BP Completes $6 Billion Sale of Castrol Stake to Stonepeak

04:30 AM EST, 11/02/2026 (MT Newswires) -- BP (BP) has completed the sale of its 65% stake in Castrol to Stonepeak, the company said Monday. The company will use its $6 billion in after-tax proceeds from the sale to reduce debt, BP said. Castrol will henceforth operate as a standalone company with its own management, governance, and priorities, with BP continuing to retain a 35% stake, the company said. BP added that it can consider selling its remaining stake after a two-year lock-up period.