Printer Friendly

BP DECIDES TO RESCIND CALIFORNIA MARKET WITHDRAWAL

 CLEVELAND, Dec. 6 /PRNewswire/ -- BP Oil Company announced today that it plans to rescind its notice of a withdrawal from the retail marketing of branded gasoline in California. The company cites its inability to sell its owned properties in the market for full value as the reason for the decision.
 Harrison T. Bubb, vice president of strategic development for BP Oil Company, said, "We've been unsuccessful at selling our properties in California at full value and will rescind so that BP and its marketers can continue operations beyond February. We also will continue trying to sell stations to both our own dealers and others. Purchase offers which have already been extended to our dealers will remain in effect. Additionally, we are now prepared to offer branded supply contracts to buyers."
 BP announced its intention to withdraw from California in June of 1992. The company cited industry conditions and low market share as the reason for this withdrawal.
 -0- 12/6/93 R
 /CONTACT: Ginny Sinko of BP Oil, 216-586-6762/


CO: BP Oil Company ST: California IN: OIL SU:

BM-KL -- CL011 -- 0902 12/06/93 15:36 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 6, 1993
Words:187
Previous Article:BUDGET CONSTRAINTS PRECLUDE GOVERNMENT FROM SIGNING CONTRACT WITH STANFORD TELECOM
Next Article:McDONALD & CO. PRESENTS ECONOMIC FORECAST AND STOCK PICKS FOR 1994
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters