Chevron pulls out from 1,100 gas stations in East

December 05, 2009

NEW YORK — — %HTMLlat1; %HTMLsymbol; %HTMLspecial; ]> bz.digest05.ARTChevron pulls out from 1,100 gas stations in East

NEW YORK - Chevron will pull its name from about 1,100 service stations in eastern states, the oil giant said Friday.

It's just the latest oil major to cut back on retail operations where profit margins can be razor-thin.

BP PLC, Exxon Mobil Corp. and ConocoPhillips have recently stepped away from the retail side to varying degrees.

Chevron Corp. says it will withdraw from motor fuels operations in Washington, D.C., and 12 states from Indiana to South Carolina, including Maryland, by the middle of 2010. The company ships about 2.3 million gallons of gasoline a day to those areas.

Customers in the affected states still be able to buy gas at the service stations as the owners move to other brands.

- Associated Press

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