BP Carrying Out Strategic Review Of Castrol Global Lubricants Business With Focus On Value Creation

(RTTNews) - British energy major BP plc (BP, BP.L) announced Wednesday it is carrying out a strategic review of its Castrol global lubricants business with the intention of accelerating Castrol's next phase of value delivery.

Castrol markets premium products in more than 150 countries and serving customers and consumers in the automotive, marine, industrial and energy sectors.

Castrol has significant growth ambitions, including growing its core mobility businesses, expanding participation in industrial lubricants, enhancing its mobility services and diversifying into data centre fluids.

The strategic review of Castrol will consider all options with a focus on value creation. The proceeds from any potential transaction that may arise as a result of the review will be allocated to strengthening bp's balance sheet.