Saudi Aramco Exploring Initial Bid for BP's Castrol Unit, Source Says
Saudi Aramco is in the early stages of considering a potential bid for BP's lubricant business Castrol, according to a person with knowledge of the matter. The Saudi oil giant's interest comes as BP reviews its Castrol business, aiming to generate $20 billion in divestments by 2027. A successful acquisition could help Aramco expand its presence in the global lubricants market.
- This potential deal highlights the growing importance of strategic partnerships and M&A activity among large energy companies seeking to diversify their portfolios.
- How will Saudi Aramco's ownership structure for Castrol impact the competition dynamics between other major players in the global lubricants market?