Mexico's Pemex to enter the United States market

Mexico's state-owned fuel giant Pemex has announced it will be opening five gas stations in Houston, Texas, as it looks to jump over the border and enter the U.S. market.

Petroleos Mexicanos (Pemex) is currently undergoing major changes as it prepares for the opening of Mexico´s fuel retailing market, which until now the state-owned company had totally controlled.

The company said it had selected Houston as the starting point for the U.S. entry due to its large population of Latinos.

“We want to be put to the toughest test,” said José Manuel Carrera Panizzo, chief of alliances and new business developments, as reported by Fuel Fix. “We´re trying to bring Mexico closer to American consumers.”

This is the first gas station Pemex opens outside of Mexico, where the brand currently suffers from a low valuation amongst consumers due to the reported number of irregularities many gas stations incur in.

“In terms of historic importance, it’s the first time Pemex puts a gas station outside the Mexican borders,” said Carrera.