press release

Mumbai – 20 September 2016

BP completes sale of partial interest in India, confirming intent to remain majority shareholder

BP today announced that its wholly-owned subsidiary, Castrol Limited, has sold a further tranche of the shareholding it holds in Castrol India.

Castrol Limited today sold 8.5% shareholding held in Castrol India to a range of domestic and international investors. The sale followed a similar sale in May of an 11.5% shareholding in Castrol India. As a result of the two sales, BP now holds 51% interest in Castrol India. BP, through Castrol Limited, intends to continue as the majority shareholder in Castrol India.

Bob Dudley, BP Group Chief Executive said: “BP remains the majority shareholder in Castrol India and we remain committed to long-term investment in India, including both progressing natural gas developments with our partners as well as growing our downstream businesses in the country which include both fuels marketing and lubricants.”

Sashi Mukundan, BP’s Head of Country, India, said: "Castrol India has grown successfully over decades and, as majority shareholder, BP remains committed to supporting its continued growth." BP does not expect this transaction to impact staff or customers of Castrol India or its existing contracts.

Notes to editors

 With many investments and employing around 8,500 people in the oil, gas, lubricants and petrochemicals businesses, BP is the largest international oil company in India. In addition to its gas value chain alliance with Ltd., BP’s activities include lubricants, through its interest in Castrol India; the licensing of petrochemical technologies; oil and gas trading; IT, procurement and financial services for global operations; staffing and training for its global marine fleet; and the recruitment of skilled Indian employees for its global businesses.

 Castrol India Limited is a public limited company with its corporate office in and regional offices at New Delhi, Kolkata, Mumbai and Chennai. Castrol India is listed on the Mumbai Stock Exchange (BSE: CSTRL IB EQUITY) and the Indian National Stock Exchange (NSE: CSTRL IS EQUITY). The company manufactures and markets automotive, industrial and marine lubricants distributed through 370+ distributors from over 80,000 retail outlets. Castrol India Ltd. has three manufacturing plants located in Silvassa, Patalganga and Paharpur.

Further enquiries:

BP Press office, New Delhi +91 11 43755000 IndiaPressOffice@se1..com