bp to Sell 65% Stake in Castrol to Stonepeak

26 Dec 2025 CW Team

bp has agreed to sell a 65 per cent shareholding in Castrol to Stonepeak at an enterprise value of about USD 10 billion, marking a key milestone in bp’s ongoing portfolio reset and divestment programme.

The transaction is expected to generate net proceeds of around USD 6 billion for bp, including accelerated dividend payments, all of which will be used to reduce net debt. The deal accelerates bp’s strategy to simplify its portfolio, strengthen its balance sheet and sharpen its focus on downstream businesses.

Following completion, a new joint venture will be formed with 65 per cent ownership by Stonepeak and 35 per cent retained by bp. The retained stake provides bp with exposure to Castrol’s growth plan, while preserving optionality to realise further value after a two-year lock-up period.

The sale forms part of bp’s previously announced USD 20 billion divestment programme and is expected to be completed by the end of 2026, subject to regulatory approvals.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..