UK oil and gas major steps up asset sales under new chair Albert Manifold

UK oil and gas major steps up asset sales under new chair Albert Manifold

The oil giant is looking to divest $20 billion of its assets by the end of 2027.

BP has sold a 65% stake in its motor lubricant arm Castrol to US-based investment firm Stonepeak.

BP is selling its $10 billion, majority stake in Castrol to U.S. investment company Stonepeak in an effort to pay down its debt. It will keep 35%.