Exxon Mobil Corp. plans to sell its company-owned U.S. gas stations due to low profits.
The company will sell 2,200 stations, which include 820 run by the company itself and 1,400 operated by dealers, according to the Dallas Morning News.
The fuels marketing sector is challenging and continues to be challenging, with reduced margins, significant competitive growth, Exxon spokeswoman Prem Nair told the publication.
The stations will continue to carry the Exxon and Mobil brands. Currently about 75 percent of the company's roughly 12,000 stations are owned by families or companies outside of Exxon.