Conoco Plans Deal To Sell Rest of Its Gas Stations

ConocoPhillips is expected to sell the remainder of its 600 company-owned gasoline stations to closely held PetroSun West LLC for $800 million, exiting a business undergoing significant change.

The sale is part of oil companies' efforts to flee low-margin U.S. retail-gasoline sales and focus on finding new supplies of crude oil. Houston-based ConocoPhillips will continue to refine oil ...