$6 billion sale from BP: 65 percent stake in Castrol exited...

In the statement made by BP, it was stated that the $6 billion after-tax income the company obtained from the sale will be used in line with the priority of strengthening the balance sheet and reducing financial liabilities.

It was stated in the statement that BP will retain its 35 percent share after selling its 65 percent share in Castrol to Stonepeak company, and that the sale transaction also includes minority shares in other countries, especially Castrol's participation shares of 49 percent in India, 35 percent in Vietnam, 50 percent in Saudi Arabia and 40 percent in Thailand.

2 YEAR SALES BAN

In the statement, it was stated that Castrol will operate as an independent company with its own management, governance structure and strategic priorities, and it was shared that BP will have the option to sell its 35 percent shares in Castrol after the 2-year sales restriction period.

BP Chief Executive Meg O'Neill, whose views were included in the statement, stated that they have built "a simpler, stronger and more valuable BP" and stated that the sale in question provided a significant amount of cash inflow to BP, but also enabled them to continue to receive a share of Castrol's future growth.