UPDATE: Hess to Stay Open
The company will instead focus on oil production and exploration.
Update: A Hess spokesman says that the Associated Press report was erroneous.
Original story: Hess has announced it's closing its gas stations and will focus on “exploration and production,” according to media sources on Monday.
Recently, Elliott Management, one of the company’s largest shareholders, "accused the board of ‘poor oversight,’ and said that the company’s management was responsible for more than a ‘decade of failures,’” reported the Associated Press.
Hess will close its gas stations, including it's Broadway location in Malden, and focus on other parts of the business, including oil exploration and production.
Many of the stations are owned by Hess rather than franchises, reported AP.