BP in talks to sell Castrol lubricants business to Stonepeak for $8 billion.

BP is in talks with Stonepeak to sell its Castrol lubricants business. The deal, which could value the unit at around $8 billion, is part of BP's strategy to meet its $20 billion divestment goal. BP has been reviewing the unit since February and has also received bids from One Rock. The sale is seen as a major step towards BP's goal of increasing profitability and cutting costs.