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English Español Mexico: Gulf Oil to operate 2,000 gas stations in 3 years

Oil giant Gulf plans to dominate between 17% and 25% of Mexico's fuel retailing market with the opening of 2,000 gas stations over the next three years.

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After the opening of Mexico´s national fuel retailing market, which has been in the hands of state-owned Pemex for years, a number of international oil companies have showed their interest in entering this promising market. However, Gulf has quickly got ahead with ambitious plans that start by opening 100 new service stations this year.

The American oil company has set itself a ceiling of a 25% market share, while its target for the near future is to control 17% of the country´s fuel retailing market – around 2,000 gas stations, according to Expansión México.

“We have to set a limit to where we want to get. If you expand too much, too quickly, you end up betraying the customer,” explained Sergio de la Vega, General Director for Gulf México.

For the initial opening of 100 gas stations during 2016 Gulf will require an investment of $100 million. The first step in the expansion campaign is to open four service stations in each major city of Mexico.

Mexico closed 2015 with 11,431 gas stations, according to data from the Secretaría de Energía (Sener), which means Gulf would have to open around 2,800 sites to attain a 25 percent market share. 

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