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Saudi Aramco Weighs Bid for BP’s Castrol Lubricant Assets
Saudi Aramco is considering a potential offer for lubricant assets being sold by BP Plc, as the Middle Eastern company pushes for acquisitions that deepen its reach in oil consuming countries, according to people with knowledge of the matter.
The world’s biggest energy company is studying whether to bid for part or all of the business, which operates under the Castrol brand name, the people said. Aramco could look to combine the Castrol assets with its Valvoline lubricants unit, which it bought in a $2.65 billion deal completed in 2023.