<div id="readability-page-1"><div><p>(Alliance News) - BP PLC is in advanced talks to sell its Castrol lubrications business to Stonepeak Partners LP at a value of more than USD8 billion, which would match BP's current expectations, the Financial Times reported on Thursday.</p><p>New York-based investment firm has emerged as the leading contender to buy Castrol, the FT said citing &#34;people familiar with the matter&#34;. However, they said no deal has been finalised and talks could still fail, or other bidders could emerge.</p><p>The London-based oil major had put the division of its Downstream business up for sale back in February, as it aims to raise USD20 billion from assets sales by 2027. However, initial bidders explored offers below USD8 billion, the FT said, compared to analyst estimates of a value as high as USD10 billion.</p><p>BP shares were down 1.9% to 456.06 pence in London early Friday. It has a market capitalisation of GBP70.29 billion.</p><p>By Tom Waite, Alliance News editor</p><p>Comments and questions to newsroom@alliancenews.com</p><p>Copyright 2025 Alliance News Ltd. All Rights Reserved.</p></div></div>

<p>BP PLC is in advanced talks to sell its Castrol lubrications business to Stonepeak Partners LP for over USD8 billion, aligning with BP's expectations. The sale is part of BP's strategy to raise USD20 billion from asset sales by 2027. Although Stonepeak is the leading contender, no deal has been finalized, and other bidders may emerge. BP shares fell 1.9% in London following the news.</p>

Stonepeak eyes Castrol offer at BP's USD8 billion asking price