Repsol looking to have a network of 1,200 gas stations in Mexico
Repsol is looking to profit from the reform to the fuel retail market in Mexico, which was open to investors by Enrique Peña Nieto’s Government on April 2016. Following into the steps of its major competitors, like Exxon Mobil, BP or Glencore, the Spanish Oil Company has been working for months on a project to enter a market that had been reserved for the State controlled company, Petroleos Mexicanos (Pemex) until now. According to sources close to the Company presided by Antonio Brufau, their corporate objective is to reach between 8% and 10% of market participation within five years, which would amount to roughly 1,200 service stations. This way, the downstream business model would be driven strong.