The company was founded in London on 19 March 1899 by businessman Charles Cheers Wakefield and was originally named the Wakefield Oil Company.
In 1909, the company began production of a new automotive lubricant named Castrol (a contraction of Castor oil, from which it was made). The company developed specific oil applications for various applications of the new internal combustion engine, including automobiles, motorcycles and aircraft.
In 1917 the firm became titled C. C. Wakefield & Co. In the following years Castrol oil products were to be found in all aspects of the transport industry, in particular working with pioneering aviators and motorists.
In 1960 the company name was changed to Castrol Ltd. At this time the head office was moved into a new building ‘Castrol House’, in the Marylebone Road, London. In 1966 Castrol Ltd. was acquired by British oil company Burmah, which was renamed Burmah-Castrol in 1967.
In 2000, Burmah-Castrol was acquired by the then BP Amoco plc (now renamed BP plc). Castrol branded lubricants continue to be sold around the world and are, in many countries, market leaders.