THE PATH FORWARD

Press release

28 February 2023

Castrol unveils refreshed brand to reflect the changing needs of customers

Castrol, a global leader in lubricants, part of the bp group, today unveils its refreshed brand, including an updated look and feel. The brand refresh is aimed at better reflecting its unique positioning in the market and the opportunities it sees in meeting the changing needs of customers.

Castrol is exploring opportunities to provide solutions and services that will complement its core lubricants business and provide additional value to customers. For example, the company already has a range of advanced EV Fluids including EV Transmission Fluids, EV Thermal Fluids and EV Greases - Castrol ON; and has announced plans to invest around $60 million in a new, state-of-the-art electric vehicle (EV) battery testing centre and analytical laboratory in the UK. Castrol’s ON immersion cooling fluid for use in data centres has now been fully approved by Submer for use across their portfolio of products.
 
The refreshed brand identity is the result of a comprehensive brand strategy process, which included extensive research, analysis, and input from stakeholders, customers, and industry experts. The updated logo features a more modern, dynamic, and vibrant design, with a focus on our core strengths and differentiators as Castrol aims to broaden appeal with a more diverse customer base in lubricants, services and solutions. It maintains Castrol’s iconic red, green and white colours, which are strongly associated with the brand and is set to improve brand memorability digitally.

"We are excited to launch our refreshed brand, which represents an exciting chapter for our company," said Nicola Buck, chief marketing officer of Castrol. "Our refreshed brand identity reflects our commitment to investing in the future and creating new opportunities for growth and success."

“The worlds of mobility and industry are facing faster-than-ever changes as the world transforms and aims for net zero, and customers want more sustainable solutions. Change is vital for Castrol to thrive. We’re signalling to the world that we are set for the future.”

“I believe that refreshing a globally recognised brand is not just about changing its appearance or messaging,” adds Michelle Jou, CEO of Castrol. “It's about reinvigorating its essence, and relevance in today's world. We need to listen to our customers, understand their evolving needs and aspirations, and leverage our core strengths to be a brand that inspires them. A refreshed brand should not be just a cosmetic exercise; in my view it's a strategic imperative that drives growth, differentiation, and long-term success.”

The brand refresh also includes a new sonic identity. It has been crafted to enhance the refreshed visual look and feel, with music and sound design that strongly elicits feelings of acceleration, forward-momentum and dynamic movement. Castrol's new sonic identity is a powerful future distinctive brand asset that will drive awareness and memorability.
Castrol believe that these changes will provide a more engaging, memorable, and effective brand experience for our audience.

Castrol worked with top branding and design agency Landor & Fitch and leading sonic branding agency MassiveMusic to develop its refreshed brand identity whose expertise and creativity has been instrumental in shaping the refreshed brand.
 
Further information:
bp press office London, bppress@bp.com, +44 7919 217511

About Castrol:
Castrol, one of the world’s leading lubricant brands, has a proud heritage of innovation and fueling the dreams of pioneers. Our passion for performance, combined with a philosophy of working in partnership, has enabled Castrol to develop lubricants, coolants and greases that have been at the heart of numerous technological feats on land, air, sea and in space for over 100 years.
 
Castrol is part of the bp group and serves customers and consumers in the automotive, marine, industrial and energy sectors. Our branded products are recognized globally for innovation and high performance through our commitment to premium quality and cutting-edge technology.
 
For more information about Castrol, please visit: www.castrol.com/forward
 
Cautionary statement:
In order to utilize the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 (the 'PSLRA'), bp is providing the following cautionary statement. This press release contains certain forward-looking statements – that is, statements related to future, not past events and circumstances – which may relate to one or more of the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. These statements are generally, but not always, identified by the use of words such as 'will', 'expects', 'is expected to', 'aims', 'should', 'may', 'objective', 'is likely to', 'intends', 'believes', 'anticipates', 'plans', 'we see' or similar expressions. Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under "Risk factors" and in any of our more recent public reports.
Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.

Moving forward with the new packaging design