BP sells stake in motor oil arm Castrol for $6bn

BP has sold a majority stake in its motor oil division Castrol to US investment firm Stonepeak for $6bn, valuing Castrol at $10.1bn. The deal will allow BP to focus on its core business of crude oil and gas, reducing debt and costs. The sale is part of BP's plan to sell off $20bn worth of assets and shift its strategy back to oil and gas after pressure from investors.