The sale of the convenience stores will be completed over the next two years. The sites will continue to market BP fuels in the eastern US and Arco fuels in the western US. The franchise agreement is for 20 years and requires sites to be supplied with BP or Arco branded fuels for the term of the contract.

Fiona MacLeod, president of BP US convenience retail, said: By tapping into the entrepreneurial experience and knowledge of local station owners, we will build a strong franchise network that will help us grow our business.

The business change is in line with BP’s reorganization aimed at simplifying the company and improving performance.

Of BP’s 13,000 US retail sites, this sale of more than 700 company-owned and operated convenience stores will eliminate 9,500 convenience store positions and 350 business support staff.