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WPRO Newsroom

A news release from Hess said Monday that the gas and oil company would be shedding its retail operation as it begins a multi-year transition into a full exploration and production company (E&P). 

The release said Hess will be "fully exiting the Company’s downstream businesses, including retail, energy marketing, and energy trading."

There are currently nine Hess Express gas station locations across Rhode Island. 

The release said Hess plans to be a full E&P company by 2014, which could mean the stores will be sold off within the next year.

Already, Hess' stock jumped 3.5 percent Monday following the announcement that they would sell their retail business.