BP's (BP) strategic review of its Castrol unit has received attention from Saudi Aramco, which is weighing a potential offer for the lubricant assets, Bloomberg reported Wednesday, citing people with knowledge of the matter.
Aramco could bid for part or all of the business, and could target combining the Castrol assets with its Valvoline lubricants unit, the sources reportedly said. The company is particularly interested in Castrol's operations in markets such as India, they added, according to the report.
The Saudi Arabian oil company has not made a final decision on the potential bid and the Castrol assets also have other bidders, the sources told the news outlet.
BP and Aramco did not immediately reply to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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