NEW YORK — ConocoPhillips will sell the remainder of its gas stations in the United States, the company said Wednesday, though Conoco, Phillips 66 and 76 will continue to operate under those familiar signs. The 600 or so stations are being sold to Pacific Convenience & Fuel, a subsidiary of PetroSun Fuel.
The deal is “in the ballpark” of $800 million, said Sam Hirbod, chairman and chief executive of PetroSun and Pacific Convenience. It includes a long-term contract in which ConocoPhillips would provide fuel for the stations.
The purchase will help boost Pacific Convenience’s presence in major West Coast urban areas, Hirbod said.
Houston-based ConocoPhillips began several years ago to spin off its retail stores, focusing more on exploration and refining. The Associated Press
