Thread: Exxon Mobil to Invest $300 MILLION In Mexican Fuel Market

Exxon Mobil to Invest $300 Million In Mexican Fuel Market

Giovanni Bruno
Follow May 17, 2017 2:14 PM EDT




Exxon Mobil (XOM) said today that it will invest $300 million over the next 10 years into Mexico's fuel market and open its first Mobil filling station in the country in the latter part of 2017, the Financial Times reports.

The move illustrates expanding fueling options for Mexico after a 2013 ruling on energy reform ended the national oil company Pemex's monopoly on the fuel market.

Exxon Mobil joins BP (BP) , which opened its first Mexican station in March, as the second foreign firm entering the filling station sector.

Exxon Mobil will franchise locations under the Mobil name, selling its Synergy petrol and diesel brand, and will begin sale in central Mexico.

The $300 million investment will be in fuels logistics, product inventories, and marketing over the coming decade "to provide a reliable supply of quality products to the retail, wholesale, industrial and commercial sectors," Exxon Mobil said.

https://www.thestreet.com/story/1414...el-market.html

The only large new U.S. oil refinery in 40 years will export fuel to MEXICO