LONDON, Dec 24, 2025 (BSS/AFP) - British oil giant BP said Wednesday it has agreed to sell a majority stake in its Castrol lubricants business to US investment firm Stonepeak, as it seeks to cut debt. Castrol will be owned by a joint venture, with BP retaining a minority stake. "The sale marks an important milestone in the ongoing delivery of our reset strategy," said interim chief executive Carol Howle. BP extended its shakeup last week as it appointed energy industry veteran Meg O'Neill to become chief executive from April, replacing Murray Auchincloss. American national O'Neill joins BP from her position as chief executive of Australian group Woodside Energy.

Source: Bangladesh Sangbad Sangstha December 24, 2025 09:41 UTC