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,

Shares of lubes maker Castrol India, a unit of BP, surged more than 13 per cent on the bourses on Thursday amid reports that Saudi Arabia's state-owned oil giant Aramco is considering taking ownership of BP's lubricant brand.

Saudi Aramco, the world’s largest energy company, is exploring the possibility of bidding for part or all of BP’s lubricant business, which operates under the Castrol brand name.

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.

Castrol India stock skyrocketed over 13% on news of Aramco's potential acquisition of BP's lubricant division, which operates under the Castrol brand. The move could see Castrol assets combined with Aramco's Valvoline lubricants unit.

According to reports, Saudi Aramco is considering to buy BP's lubricant division, which operates under the Castrol brand

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.