The BP share ($BP. (-1.13%) ) is showing upward trends! 🚀 The reason for this is the rumor that the British oil company could sell its lubricants business, known under the Castrol brand, for up to 10 billion US dollars. This move could be a response to pressure from activist investor Paul Singer and his hedge fund Elliott Investment Management, which has already called for cost cuts and asset sales.
The sale could be officially announced at the Capital Markets Day on February 26. This may be BP's way of regaining investor confidence after a rather modest performance in recent years.
What do you think of this strategy? Is the sale of business units the right way to get the company back on track? 💭 And how do you see BP's future with regard to renewable energies? Let's discuss it!