Mexico: ExxonMobil to enter fuels market with $300m investment

ExxonMobil has announced its plans to enter the Mexican fuels market in 2017 with Mobil-branded stations and its new signature line of advanced Synergy gasoline and diesel fuels.

The company plans to open its first Mobil service station in central Mexico during the second half of 2017, and additional stations will open later in the year. ExxonMobil plans to invest about $300 million in fuels logistics, product inventories and marketing over the next 10 years to provide a reliable supply of products to the retail, wholesale, industrial and commercial sectors.

“Recent energy reforms present a unique opportunity to help meet the growing demand for reliable fuel supplies and quality service in Mexico,” said Martin Proske, Mexico fuels director for ExxonMobil Fuels, Lubricants & Specialties Marketing Company.

ExxonMobil’s Synergy product line includes the company’s most advanced gasoline formula, according to a press release.

“Our new Synergy line of fuels, coupled with modern equipment and station image, is part of our continued effort to deliver innovation at our branded stations,” added Proske.

ExxonMobil has maintained a presence in Mexico for more than 130 years with other businesses and sales in the country, including chemicals and Mobil-branded lubricants, as well as interest in oil and gas exploration, where they anticipate continued growth.

The international oil company joins the like of BP, OxxoGas and Texaco in Mexico as the country begins a new era with an open fuel retailing market.