Castrol is a British oil company that sells industrial and automotive lubricants, with a wide selection of oils, greases, and other lubricants for most lubrication needs.
The term Castrol was initially merely a brand name for the firm’s motor lubricants, but when the product name became more well-known than the original company name, CC Wakefield, the company changed its name to Castrol.
Castrol Limited has been a part of BP since 2000, when the firm was purchased for $4.7 billion.
Charles Wakefield established the “Wakefield Oil Company” in 1899. Wakefield had previously left Vacuum Oil to launch a new company in London that sold lubricants for trains and heavy machinery. In 1906, the business released its first lubricant. The new company was founded in London’s Cheapside to sell lubricants for trains and other heavy machinery. Wakefield’s new company now employs eight former Vacuum Oil employees.
Wakefield Co. created lubricants specifically for automobiles and aeroplanes in the early twentieth century. Researchers added measured amounts of castor oil (a vegetable oil derived from castor beans) to their lubricant compositions, giving birth to the name “Castrol.”
By 1960, the company’s name had been eclipsed by the name of the motor oil, and “CC Wakefield & Company” had become “Castrol Limited.” Castrol was purchased by Burmah Oil in 1966, and the company was renamed “Burmah-Castrol.” In the year 2000, the London-based multinational BP (then known as “BP Amoco plc”) purchased Burmah-Castrol.
Burmah-Castrol had a turnover of approximately £3 billion and operating profits of £284 million at the time of purchase. With operations in 55 countries, the corporation employed 18,000 people worldwide. BP Amoco had 80,400 people around the world and a revenue of more than £63 billion.
Castrol has remained a BP subsidiary, despite Burmah’s operations being merged into the corporation.