BP edged closer to a deal to sell a majority stake in its Castrol lubricants business, with infrastructure investor Stonepeak reportedly in advanced talks. Castrol is one of BP’s most recognizable and consistent businesses, known globally for engine oils and industrial lubricants. A sale could value the unit at several billion dollars and would represent a significant step in BP’s broader effort to simplify its structure and free up capital.

The move reflects BP’s evolving priorities. While Castrol delivers steady cash flows, BP appears increasingly focused on strengthening its balance sheet and reallocating resources toward core energy operations and long-term strategy. For Stonepeak, Castrol offers a predictable, cash-generating asset with strong brand equity, fitting well with long-duration investment strategies. The deal underscores how even stable, legacy businesses are being reassessed in today’s capital-disciplined environment.