Iconic Motorsport Brand Castrol Sold for $10.1 Billion

BP sells 65% stake in legendary lubricant company to Stonepeak investment firm

Apr. 10, 2026 at 6:44pm

Got story updates? Submit your updates here. ›

An abstract, blurred image of a race car in motion, conveying the speed and energy of motorsports through vibrant streaks of color.The sale of iconic motorsport brand Castrol raises questions about the future of its racing legacy under new ownership.NYC Today

In a major shakeup, the iconic Castrol brand has been sold by BP for $10.1 billion, with the New York-based investment firm Stonepeak acquiring a 65% stake in the company. The deal marks a significant shift in the motorsport and energy sectors, raising questions about Castrol's future direction and its continued commitment to racing.

Why it matters

Castrol has been a fixture in motorsports for over a century, sponsoring legendary drivers and events. The sale raises concerns about whether the brand will maintain its racing heritage under new ownership or shift focus to other industrial sectors. The transaction also reflects broader changes in the energy industry as companies like BP look to streamline operations and strengthen their financial positions.

The details

BP has sold a 65% stake in Castrol to Stonepeak, an alternative investment firm based in New York, for $10.1 billion. BP will retain a 35% stake in the company for at least two years. Castrol is known for its long history of sponsoring motorsport icons and events, but the new ownership raises questions about whether the brand will continue to prioritize its racing legacy.

  • The deal is expected to be completed by the end of 2026.
  • BP's interim CEO, Carol Howle, framed the move as part of a broader strategy to streamline operations and strengthen the company's financial position.

The players

BP

The British multinational oil and gas company that previously owned Castrol.

Stonepeak

A New York-based alternative investment firm that has acquired a 65% stake in Castrol.

Carol Howle

The interim CEO of BP, who stated that the Castrol sale is part of the company's broader strategy to streamline operations and strengthen its financial position.

Anthony Borreca

The senior managing director of Stonepeak, who expressed the firm's excitement to partner with Castrol's talented team and drive the brand's future growth.

Got photos? Submit your photos here. ›

What they’re saying

“This sale is a pivotal moment in our reset strategy. We're simplifying our portfolio, focusing on integrated businesses, and accelerating our growth plans. This deal brings us closer to our $20 billion divestment target, significantly bolstering BP's balance sheet.”

— Carol Howle, BP Interim CEO

“Castrol's differentiated products deliver real value to customers. We're thrilled to partner with their talented team and BP's continued guidance to drive the brand's future growth.”

— Anthony Borreca, Stonepeak Senior Managing Director

What’s next

As Stonepeak takes over Castrol, the motorsport community will be closely watching to see if the brand maintains its long-standing commitment to racing or shifts its focus to other industrial sectors.

The takeaway

The sale of Castrol to Stonepeak represents a significant shift in the automotive and energy industries, raising questions about the future direction of one of motorsport's most iconic brands. While the new owners have expressed a desire to drive Castrol's growth, the brand's racing legacy remains uncertain as it navigates this transition.