Gulf, the legendary oil company, is to open its first gas stations in Mexico in mid-2016. The company made the announcement in early March, putting an end to Pemex’s monopoly as gasoline retailer in Mexico. This is probably the most visible sign of the new times coming for the energy market in Mexico, and also means a new era for the fuels trade in the country.
In spite that Mexico is one of the ten top oil producers in the world, the country imports an increasing chunk of the refined fuels it consumes, being an important customer for the US southern oil refineries. In 2014, Mexico imported 641.000 b/d of refined petroleum products, mainly gasoline. The country represented 44% of the US exports of motor gasoline that year, according to the EIA. Competition in the Mexican retail gasoline market opens new opportunities for refineries, traders and transport and logistics companies.Older postNewer post