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LONDON -- British petroleum giant BP here said it plans to sell its retail business in Colorado and withdraw its brand name by early next year, so that the company can concentrate on larger markets closer to its refineries.
The company informed all its direct employees on Wednesday of its plan to sell the stations, according to published reports. BP also reportedly told its dealers and jobbers that it plans to terminate their franchise or marketing agreements.
BP's presence in Colorado includes 50 of its own service stations, 32 stations operated by dealers, 35 in the hands of jobbers or wholesalers who own and operate the stations, and five run by commission marketers.