Petrol giant BP is planning to sell off more than 700 of its US convenience forecourt stores.

It will sell all of its company-owned and operated stores in the country over the next two years, with most going to franchise holders and the rest to dealers and large distributors, according to reports in the Financial Times.

“By tapping into the entrepreneurial experience and knowledge of local station owners, we will build a strong franchise network that will help us grow our business,” said Fiona MacLeod, president of BP US Convenience Retail.

BP had no plans to extend the model to the UK, according to The Times. “This is an American thing,” a spokeswoman told the paper.