Off the wire
GE to cut 12,000 power jobs globally  • Israeli army fires at Hamas post in Gaza, no injuries  • Roundup: Iran strongly condemns U.S. decision on Jerusalem  • Jordan voices full support to Palestine on Jerusalem issue  • News Analysis: Indifference on streets of Jerusalem, while concern looms over prospects of peace after Trump's declaration  • Maltese citizens among most satisfied in Europe: survey  • U.S. gas mileage down in November  • Urgent: Ronaldo wins fifth Ballon d'Or, tying Messi's record  • FLASH: CRISTIANO RONALDO WINS 2017 BALLON D'OR  • Ghana to retool armed forces to prepare for emerging threats  
You are here:  

Exxon Mobil to open first gas stations in Mexico

Xinhua,December 08, 2017 Adjust font size:

HOUSTON, Dec. 7 (Xinhua) -- Exxon Mobil, world's largest oil and gas company, is opening its first gas stations in Mexico this week to become a major Mexican fuel supplier, local media reported Thursday.

According to the report, the first eight fuel stations are opening this week in the area of the central Mexican city. Exxon Mobil plans to open about 50 fueling station in central Mexico by the end of March, 2018.

The Texas-based company just started sending its first fuel shipments from Texas to Mexico, via private rail terminals. Exxon will primarily ship fuel from its Texas refineries to Mexico.

The company said this is just the beginning of its 300 million U.S. dollars commitment to bring its fuel logistics services and gas stations to Mexico.

Last week, Mexico's energy regulator announced the end of government-set fuel prices in the remaining central and southern regions where price caps were still being applied. After years of preparation, Mexico finished liberalizing prices for gasoline and diesel across the country.

Following the announcement, an increasing number of foreign firms plan to invest in ports terminals, fuel storage facilities and other logistics infrastructure in order to compete with state-owned Petroleos Mexicanos, the primary fuel vendor and distributor in Mexico. Enditem