Billionaire Zuber Issa Eyes MultiBillion Pound Bid for Castrol Oils

British billionaire Zuber Issa, widely recognised for his pivotal role in acquiring Asda, is reported to be exploring a daring multibillion-pound bid to purchase Castrol Oils. The lubricant business, owned by energy giant BP, has been placed on the market with an estimated valuation of up to £7.5 billion ($10 billion).

Issa, who sold his stake in Asda last year, is said to be considering leading a consortium bid for Castrol. Sources suggest the tycoon may also act as an “operating partner” in a joint effort with other interested buyers, including private equity firms and global competitors such as Indian giant Reliance Industries and oil titan Saudi Aramco. The potential move marks another ambitious step in Issa’s career, which has seen him and his brother establish EG Group, now operating nearly 6,000 forecourts across nine countries.

The Castrol brand, founded in 1899 as the Wakefield Oil Company, remains a major player in the global lubricant market. Despite the automotive shift toward zero-emission vehicles, analysts note continued medium-term demand for motor oils and related fluids. This aligns closely with Issa’s recent investment in Duckhams, a smaller but heritage-rich lubricants firm known for its connections to motor racing.

BP’s decision to offload Castrol comes as part of a larger strategy to streamline its portfolio, aiming to raise approximately $20 billion by 2027 to reduce debt. Banking heavyweight Goldman Sachs has been engaged to manage the sales process, which is expected to formally launch in the coming months. Current offers are believed to range between $6 billion and $10 billion, though valuations could climb higher based on varying market perspectives regarding the future of internal combustion engines.

Issa’s bold interest in Castrol reflects his confidence in the lubricants market amid industry shifts. Electric vehicles, which require fewer lubricants than traditional engines, may still sustain demand for fluids such as brake and transmission oils. The evolving automotive landscape presents both challenges and opportunities for Castrol and its prospective buyers.

As negotiations take shape, analysts remain divided on Castrol’s ultimate valuation, with some suggesting a potential breakup of the business into regional units. Regardless of the outcome, Issa’s entry into the bidding war underscores his continuing influence in high-stakes acquisitions.

Bankers, private equity giants, and industrial powerhouses are already positioning themselves for what could be one of 2025’s headline-making corporate deals. For Issa, whose estimated fortune stands at £5 billion, the sale of BP’s prized lubricant division presents another chance to expand his already impressive entrepreneurial legacy.