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.

Saudi Aramco is considering a potential acquisition of bp's Castrol lubricant business, which could value the division at approximately $10bn (£7.77bn), reported Bloomberg. BP has been contemplating various options for its Castrol division,