British oil company BP plans to sell all its 310 petrol stations and 25 charging centres in the Netherlands, a spokesman has confirmed, following reports in the AD newspaper.

BP said the investment needed to grow in the relatively small Dutch market was too high, news agency Reuters reported.

The plan is to sell all the outlets in one go, rather than break the network up into smaller units. The deal should be completed by the end of next year.

BP opened its first Dutch petrol station in 1971. Its refinery in Rotterdam, the aviation fuel division and Castrol subsidiary are not affected by the sale, the AD said.