GULF to start operations in Mexico on June 2016

3/14/2016 The Yucatan Times 

GULFAccording to the Associated Press, U.S.-based Gulf Oil LP announced on Friday March 11th that it is entering Mexico’s gasoline retail market, becoming the first foreign company to do so under an energy overhaul that loosened more than seven decades of government monopoly in the sector.

The company will open its first four gas stations in Mexico City and Monterrey by the month of June, and aims to operate at least 100 nationwide by the end of the year, said Sergio de la Vega, Gulf’s director for Mexico. In the next three years it hopes to reach 2,000.

De la Vega said Gulf has a target of 25 percent of the national market, which currently comprises more than 10,000 gas stations across Mexico.

The company intends “to give Mexicans a choice,” de la Vega said.

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