Atlas notes it remains committed to growing its fuel distribution and supply management businesses.

Atlas Oil Co. has announced Atlas Oil’s planned sale of its BP branded assets in Chicago and NW Indiana to Parent Petroleum Inc. and Lehigh Gas Partners LP.

Atlas Oil supplies BP branded gasoline stations in Chicago and NW Indiana with BP branded gasoline and other fuel products. The transaction is expected to close during the second quarter 2014.

“Atlas and BP have had a strong relationship and have been brand partners for a number of years,” said Michael Evans, president and chief operating officer for Atlas Oil Co. “After careful analysis, we determined this to be the right decision. Atlas Oil remains committed to the growth of its fuel distribution and supply management businesses.”