BP SAYS WILL TREAT RETAINED STAKE IN CASTROL AS EQUITY ACCOUNTED INVESTMENT, DOES NOT EXPECT TO GET EARNINGS OR RECEIVE DIVIDEND IN SHORT TO MEDIUM TERM
BP SAYS USING $6 BLN IN AFTER-TAX PROCEEDS FROM CASTROL TRANSACTION TO FURTHER REDUCE FINANCIAL OBLIGATIONS; FOLLOWING TWO-YEAR LOCK-UP PERIOD, BP HAS OPTIONALITY TO SELL ITS 35% STAKE IN CASTROL