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@bp_plc

Delivering energy to the world, today and tomorrow.
Global bp.com/CommentsGuide Joined August 2013
265 Following 114K Followers 16K Posts

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bp @bp_plc
We have agreed to sell a 65% stake in Castrol to Stonepeak at an enterprise value of $10 billion, following a thorough strategic review and extensive interest.

It’s the latest example of bp in action to deliver our reset strategy and means we have now completed or announced over half of our $20 billion divestment programme.

Carol Howle, interim CEO said: “The transaction allows us to realise value for our shareholders, generating significant proceeds while continuing to benefit from Castrol’s strong growth momentum.

“This marks an important milestone in the ongoing delivery of our reset strategy. We are reducing complexity, focusing the downstream on our leading integrated businesses, and accelerating delivery of our plan.”

The transaction is expected to close at the end of 2026 – read more here: bp.com/en/global/corp…
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bp @bp_plc
Meg O’Neill has been appointed as bp’s next CEO, effective April next year.

Murray Auchincloss has decided to step down as CEO and will serve in an advisory role until December 2026 to ensure a smooth transition.

Carol Howle, currently bp’s EVP supply, trading & shipping, will serve as interim CEO until Meg joins in April. bp.com/en/global/corp…