ExxonMobil to enter Mexican gasoline retail market in summer
ExxonMobil announced it plans to enter the Mexican fuels market during the second half of 2017, with Mobil-branded stations and its new signature line of advanced Synergy gasoline and diesel fuels.
The company plans to open its first Mobil service station in central Mexico by summer and additional stations will open later in the year.
ExxonMobil plans to invest about US$ 300 million in fuels logistics, product inventories and marketing over the next 10 years to provide a reliable supply of quality products to the retail, wholesale, industrial and commercial sectors.
“Recent energy reforms present a unique opportunity to help meet the growing demand for reliable fuel supplies and quality service in Mexico,” said Martin Proske, Mexico fuels director for ExxonMobil Fuels, Lubricants & Specialties Marketing Company in a press release. “ExxonMobil’s presence will help give consumers new choices to purchase our high-quality products.”
ExxonMobil’s Synergy product line includes the company’s most advanced gasoline formula, which the company argues increases engine-cleaning power, helps to improve engine performance, responsiveness and fuel economy compared to gasoline meeting minimum government standards. The fuels will be marketed as Mobil Synergy Extra, Mobil Synergy Supreme+ and Mobil Synergy Diesel in Mexico.
ExxonMobil has maintained a presence in Mexico for more than 130 years with other businesses and sales in the country, including chemicals and Mobil-branded lubricants, as well as interest in oil and gas exploration.