BP to open 1,500 stations in Mexico before 2022

Global oil company BP plans to open 3,000 branded gas stations across the globe over the next five years with half of them destined for Mexico, according to Reuters.

Mexico’s new open policy on fuel retailing companies has attracted a lot of attention from international players. BP has made its intentions clear by announcing plans for opening 1,500 sites in the 2017-2021 period.

“BP has drawn an ambitious growth plan for its network of service stations on a global level. There are a number of important markets in which we are participating and Mexico, without a doubt, is very relevant due to its enormous potential,” told El Financiero a BP source via email.

Currently, there are 123 BP branded stations across Mexico with many operated by distributors that previously worked for Pemex.

Other major players that have announced aggressive expansion plans for Mexico include Shell with a proposed $1 billion investment; ExxonMobil, which will use $300 million to boost its fuels logistics, product inventories and marketing; and 7-Eleven with the launch of its own brand for Mexican market, Petro-7.