BP (BP) is considering a potential sale of its lubricants business, Bloomberg News reported Tuesday citing people familiar with the matter.
A deal could value the unit operating under the Castrol brand at about $10 billion, the sources said.
The oil major could disclose a potential divestment during its capital markets day on Feb. 26, however no final decision has yet been made, Bloomberg reported, citing the sources.
BP declined MT Newswires' request for comment.
(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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