Activist investor Elliott Management has built a near 5% stake in BP and is pushing the oil company to take radical action to transform its performance, including a big divestment programme, a source familiar with the matter told Reuters on Thursday.

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,

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

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.

Activist investor Elliott Management has built a nearly 5% stake in BP and is pushing for major asset sales and strategic changes at the oil and gas giant.