eNews
BP sells majority Castrol stake to Stonepeak in $10bn Deal
MUMBAI: BP has struck a $10 billion deal to sell a 65 per cent stake in Castrol to US investment firm Stonepeak, signalling a decisive pivot in the oil major’s strategy and a fresh chapter for one of the world’s most recognisable lubricant brands.
The agreement, announced on Tuesday, values Castrol at an enterprise value of about $10.1 billion and will see BP pocket roughly $6 billion in net proceeds, including accelerated dividend payments. The cash will be channelled straight into debt reduction as BP sharpens its focus on a leaner balance sheet and a more streamlined portfolio.
Once the deal closes, expected by the end of 2026 subject to regulatory approvals, Castrol will be housed in a new joint venture owned 65 per cent by Stonepeak and 35 per cent by BP. The oil major will retain exposure to Castrol’s growth story while keeping the option to exit fully after a two year lock up period.
For BP, the transaction is another firm step in its $20 billion divestment drive. With completed and announced asset sales now touching around $11 billion, the company is racing towards its target of cutting net debt to between $14 billion and $18 billion by the end of 2027. Net debt stood at $26.1 billion at the close of the third quarter of 2025.
Castrol, founded 126 years ago, remains a steady performer. The business has clocked nine consecutive quarters of year on year earnings growth, underpinned by demand for lubricants across vehicles, machinery and industrial processes worldwide. A sizeable chunk of its minority interests sit in India, where Castrol India is publicly listed.
BP interim chief executive Carol Howle, described the sale as a strong outcome for shareholders. She said the deal unlocks value while allowing BP to continue benefiting from Castrol’s momentum, all while simplifying the group and accelerating delivery of its reset strategy.
Stonepeak, which manages around $80 billion in assets, sees Castrol as a dependable engine of long term value. Stonepeak senior managing director and co head of energy Anthony Borreca, said lubricants remain mission critical products and praised Castrol’s iconic brand and deep market presence.
In short, BP is lightening its load while keeping a foot in a business that still has plenty of mileage left. For Castrol, the change of ownership could mean a faster lane to growth, with a new partner in the driver’s seat and a familiar one still riding shotgun.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
