The expected $6 billion proceeds helped BP reach its debt goal early. Selling most of Castrol also leaves BP with no expected earnings or dividends from its remaining stake in the near to medium term, balancing the benefit.
The cash helps BP cut debt, and it reached its debt goal a year early. But BP gave up most of Castrol and says its remaining stake will bring no earnings or dividends in the near to medium term. Those gains and lost income pull in opposite directions.
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