Report: BP is actively negotiating the sale of Castrol with Stonepeak.

According to two informed sources, British Petroleum is actively negotiating with investment company Stonepeak to discuss the sale of its Castrol lubricants business unit, which will be an important step for the energy company to achieve its goal of divesting $20 billion in assets. Both Stonepeak and private equity firm One Rock submitted bids for the department in September. Analysts at the Royal Bank of Canada have estimated that the market value of Castrol's sale is around $8 billion in recent weeks.