Oil major BP is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a deal, Bloomberg News reported on Tuesday, citing people familiar with the matter.

BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor Elliott Management

BP is reportedly considering a potential sale of its lubricants business. Bloomberg cited people familiar with the matter as saying that the oil major’s unit - which operates under the Castrol brand - could be worth about $10 billion in a deal.

BP (NYSE:BP) is considering a potential sale of its lubricants business in a deal that could fetch ~$10B, in one of the many options the company is considering to win back investor confidence after years of lagging performance,

A sale of the business is one of the many options BP is considering to win back investor confidence after years of under performance

BP Plc (BP) stock garnered retail attention on Tuesday after Bloomberg News reported that the company is considering selling its lubricants business. Shares were up marginally in after-hours trading.