BP aims to divest $20 billion by 2027, starting with Castrol sale, potential acquisitions

From Yahoo Finance: 2025-06-24 13:05:00

BP p.l.c. (NYSE:BP) aims to divest $20 billion by 2027, starting with the sale of Castrol lubricants to raise up to $10 billion. CEO Auchincloss plans further acquisitions. The company has already secured $1.5 billion in divestitures and is considering selling more assets, including the Gelsenkirchen refinery and a stake in Lightsource bp.

BP (NYSE:BP) is an integrated oil and gas company that also offers carbon-related goods and services. Divesting assets to meet investor demands, the company is exploring flexibility in spending, including potential changes in the U.S. onshore sector where current spending is around $2.4 billion annually.

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Read more at Yahoo Finance: BP Targets $20B in Divestments by 2027, Eyes Castrol Sale Amid Restructuring