New Delhi, Jan 14 (IANS) British oil major BP said on Wednesday that it expects to see $4 billion to $5 billion of impairments in the fourth quarter, largely tied to its energy‑transition businesses, as the oil major pivots spending back to oil and gas.The announcement follows a strategic reallocation of capital away from lower‑carbon ventures, under Chair Albert Manifold as BP seeks to simplify its portfolio. Meg O’Neill will take over as chief executive officer in April, replacing interi…
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New Delhi, Dec 24 (IANS) BP on Wednesday announced that it has agreed to sell a 65 per cent stake in its lubricants business Castrol to global investment firm Stonepeak for around $6 billion. The transaction values Castrol at about $10.1 billion, including debt. After the deal, BP will continue to hold a minority stake in Castrol through a joint venture structure.Following the announcement, shares of Castrol India surged about 8 per cent in early trade and were quoted at around Rs 201 per share….