Exxon to take its gas stations to Mexico with $300 million investment

5/17/2017 Reuters

exxonExxon Mobil Corp said on Wednesday it plans to invest about $300 million over the coming decade to enter the Mexican fuels market, opening its first Mobil-branded station in the country later this year.

Exxon will sell its Synergy gasoline and diesel fuels and will direct investments to logistics, products and marketing, the company said.

“Recent energy reforms present a unique opportunity to help meet the growing demand for reliable fuel supplies and quality service in Mexico,” Martin Proske, a company official, said in a statement.

Mexico’s 2013 energy reform ended the monopoly that state-run oil company Pemex once enjoyed in everything from crude production to retail sales.

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