Repsol SA, Spain’s biggest oil company, plans to enter Mexico’s nascent retail fuel market, people familiar with the matter said Bloomberg.
“Repsol could make a decision as soon as next month, one of the people said. A Repsol press officer declined to comment. A spokeswoman at Mexico’s energy regulatory commission, or CRE, said that some commissioners met with Repsol in February,” releaved the media outlet.
If it proceeds, Repsol would be following in the footsteps of companies such as Exxon Mobil Corp., British Petroleum (BP), and Costco, that have recently announced plans to invest in Mexico’s fuel retail market, taking advantage of rules allowing firms other than state-owned Petroleos Mexicanos to import fuel since April 2016.