Mexico’s Femsa Announces Major Expansion Of OXXO-Branded Gas Stations

7/10/2017 Forbes 

OxxoWith the liberalization of Mexico’s oil and gas market, OXXO Gas station chain, owned by Mexican multinational firm Fomento Economico Mexicano (FEMSA), where billionaire Eva Gonda Rivera and her daughters hold a large stake, is planning to consolidate its strong presence in Mexico’s newly privatized fuel retail market. “Our aim is to increase the number of OXXO Gas stations that carry our brand to 1,000 by 2020-2021,” Rolando Vazquez, OXXO Gas director told me in an interview.

OXXO Gas, which is an affiliate of OXXO, Mexico’s largest convenience stores chain, currently operates 2,500 gas stations in 16 Mexican states, but all but 336 are branded as Pemex, the acronym for the state-owned Petroleos Mexicanos.

Before Mexico’s historic 2014 energy reform, which opened oil and gas exploration and production to domestic and foreign private capital for the first time in nearly eighty years, Pemex was the only company in Mexico’s fuel retail market.

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