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Spanish energy company Repsol has opened 10 service stations in Mexico, the company announced in a press statement

Repsol enters Mexico’s retail sector

MEXICO CITY, March 13, 2018 – Spain’s Repsol has opened 10 service stations in Mexico, the energy company announced in a press statement on Monday.

With an investment of EUR 400 million in its Mexican fuel retail business, Repsol aims to have an 8-10% market share within five years. By the end of 2018, Repsol should have around 200 operational stations.

 

“Mexico is a country with great potential for growth and to which we are clearly committed as a strategic market for the company,” said María Victoria Zingoni, the company’s downstream general director. “We have a strong interest in participating in logistics infrastructure projects in order to optimise the country’s fuel distribution model. The opening of these service stations is just the first step in a strategic plan through which we hope to become relevant throughout the sector’s value chain in Mexico.”

According to the statement, Repsol is also in negotiations with interested parties seeking to establish partnerships in the sector, and “an additional 40 service stations will soon be added.”

The company joins the ranks of other major foreign players that have recently stepped into the domestic fuel retail and distribution sector over the past year, including BP, Chevron, ExxonMobil and Total.

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