BP Corrects Reports On ARCO

BP intends to sell its Carson refinery, associated businesses and the ARCO-branded retail network in 2012 as an on-going business.

BP has corrected a number of inaccurate reports that the ARCO brand would be withdrawn from Southern California. BP noted that it remains committed to the ARCO and ampm convenience store brands.

BP announced plans to divest its Carson, Calif. refinery and Southern California retail network in February 2011. The company intends to sell the refinery, associated businesses and the ARCO-branded retail network in 2012 as an on-going business. A number of prospective buyers have already expressed interest in the refinery and ARCO brand.

There are about 920 ARCO-branded stations in Southern California operated by independent dealers and franchisees. Approximately 130 of these ARCO-branded retail sites were leased from Thrifty Oil Co.  The leases of these 130 sites will expire over the next two years and will revert back to Thrifty.  The other 790 ARCO-branded sites are unaffected.

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