Argentina: YPF to open 30 new stations in 2020

The Argentinian oil company wants to open new stations and cater for low-density areas.

Argentina’s YPF has announced expansion plans for its network of petrol stations. After opening 11 sites between December and January, Argentina’s leading fuel retailer will open another 30 throughout 2020.

YPF wants to continue expanding its current network, which accounts for a 56,3% market share and sees 1.5 million cars passing through every day, with 30 new petrol stations, reports infobae.

The company wants to put more pumps across Argentina to cater those areas that are currently undersupplied. By adding to its current 1,600 fuel pumps, YPF hopes to achieve that goal.

YPF has also announced plans to raise a $30 million fund by issuing various bonds.