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.

Elliott Management reveals a sizable stake in London-based BP plc. RBC analysts expect the activist investor to push for three changes.

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,

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.

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.