Exxon Mobil to invest $ 300 million over the next decade in Mexico

Exxon Mobil will open its first gas station in Mexico in the second half of 2017 and invest $ 300 million over the next decade in logistics, products and marketing, the US oil company said on Wednesday.

The first service station will be inaugurated in the central zone of the country and, later, during the course of 2017, more gas stations will enter into operation, the company said in a statement in which it did not specify the number of them.

The company pointed out that during the next decade it plans to invest 300 million dollars in Mexico in logistics, products and marketing, in order to provide a reliable supply of products in the country.

“The recent energy reform presents a unique opportunity in the Mexican market to help meet growing fuel demand and a more competitive service,” said Exxon Mobil Mexico fuel director Martin Proske.

Worldwide, Exxon Mobil has more than 26,000 service stations in more than 35 countries.

The US oil company has been present in Mexico for over 130 years in the lubricants business and recently in the oil and gas exploration sector, in which it anticipates continued growth.

Last March, British oil company BP inaugurated the first of 1,500 gas stations it plans to build in the next five years in Mexico.

In the country there are about 1,000 gas stations in the hands of private firms, of a total of about 12,000, after the market opened last year.

This opening process will entail investments worth about $ 16 billion, according to estimates by the Energy Regulatory Commission (CRE).

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