Saudi Aramco is in the early stages of considering a potential bid for BP's lubricant business Castrol, according to a person with knowledge of the matter. BP has been exploring all options around its Castrol business,

Saudi Aramco is considering a potential offer for lubricant assets being sold by BP Plc, as the Middle Eastern company pushes for acquisitions that deepen its reach in oil consuming countries, according to people with knowledge of the matter.

Saudi Aramco, the world’s largest energy company, is evaluating the possibility of acquiring part or all of BP’s lubricant business, which operates under the Castrol brand, Bloomberg reported.

Aramco reported a drop in 2024 profits and announced a 30% reduction in total dividends for 2025, impacting Saudi Arabia's finances.

Oil giant Saudi Aramco posted a drop in annual profits on Tuesday as lower prices and volumes hit the lynchpin of the kingdom's ambitious economic reform plans.The world's biggest crude exporter said profits were down more than 12 percent to $106.