Updated at 10:30 a.m. Tuesday

Hess spokesman Dennis Moynihan said Tuesday morning that reports that Hess is closing its gas stations couldn't be further from the truth.

"We have absolutely no plans to close any of our stores," said Moynihan in a press statement.

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Original Report

Hess, which has a gas station in Winchester, 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 the gas station located at 279 Cambridge St. in Winchester, 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.