Mexican motorists will be able to fill their tanks at around 1,500 new BP fuel stations the British oil giant plans to roll out across the country over the next 5 years. It marks the first time a large international oil company will capitalize on Mexico’s liberalized gasoline market, which was previously closed to outside players under PEMEX’s decades-long monopoly.
“We’ve positioned ourselves as a leading fuel retailer in all of those markets,” Richard Harding, a vice president with BP’s downstream unit, said at a ceremony in Mexico City on Thursday. “Going forward, Mexico will be no exception.” The ceremony was attended by Mexico’s Energy Minister Pedro Joaquín and British Embassy representatives.
Con nuevos participantes en el mercado de los petrolíferos el consumidor tendrá una diversidad de opciones de servicio y marcas. pic.twitter.com/RacP1MDVK1
— P. Joaquín Coldwell (@JoaquinColdwell) March 9, 2017
BP’s first Mexican station opened for business on Thursday in the middle-class suburban area of Satélite in the greater Mexico City urban area. It will start out selling fuel purchased from PEMEX, since the Mexican NOC is still the only available provider.
Director General of BP Mexico Downstream Álvaro Granada said that BP will begin selling its own products when the capacity of nearby terminals is freed up for private usage, but offered no details regarding the location of future gas stations and the projected investment involved.
“We are delighted to bring our BP-branded fuel and convenience offer to consumers for the first time here in Mexico and look forward to opening more BP stations throughout the country and creating thousands of new retail jobs in the process,” Granada commented in a press release by BP on Friday.
As the Mexican government continues to roll out gasoline price liberalization during 2017, BP executives said the new stations will sell fuel at “market prices” and that superior customer service will be their distinguishing feature, as reported by Reuters. Mexico’s historic Energy Reform, passed in 2013 by incumbent President Enrique Peña Nieto, paved the way for private players to enter the market after years of sole state control.