In just four months of operations, the Spanish company Repsol has scooped up 50 service stations of the Petróleos Mexicanos (Pemex) franchise.
According to data from the Secretary of Energy new brands such as Repsol have snatched 21 percent of the Mexican market. “The service stations associated with the company are benefiting from the strengths and attributes of Repsol and counter-acting the negative reputation of Pemex gas stations.
“Already, they have increased their sales by 35 percent on average since they work under their brand,” the Spanish firm said in a statement.
But the Mexican oil company maintains the million-dollar fuel supply business in most of the country, with a value of over 400,000 million pesos.
Since its arrival in Mexican territory on March 12, Repsol has inaugurated 10 gas stations in Mexico City and the State of Mexico. Thanks to its partnerships with Mexican gasolineros, the firm has extended to the states of Veracruz, Jalisco, Oaxaca, Puebla, Hidalgo, Baja California Sur and Tlaxcala.
In March, Repsol said it would invest 8 billion peso for its gas stations in Mexico over the next five years with the opening of up to 250 stations per year.
Previously, María Victoria Zingoni, general director of Repsol, mentioned that between 20 and 30 percent of their stations will be built and the rest reconverted.