MEXICO CITY May 18 ExxonMobil Corp said
on Thursday that it will start importing its own gasoline into
Mexico before the end of the year to supply the Mobil-brand gas
stations it will be opening in Latin America's second largest
ExxonMobil expects to open its first service stations in
Mexico later this year and will sell gasoline and diesel fuels,
as it pumps $300 million in the coming decade in an effort to
gain a foothold in the country's retail fuel market.
"The start of this will be before year end, either through
open season or through commitments with infrastructure
developers," said Martin Proske, the company's director of fuels
in Mexico, of when ExxonMobil would start importing its own
gasoline to supply the service stations.
The so-called open season auctions, which will be staggered
throughout this year, will allow private companies to bid for
access to surplus pipeline capacity within state-owned Pemex's
For decades, Mexico's fuel market was closed, by law, to any
company but Pemex. But in 2013, reforms ended Pemex's monopoly
in everything from crude oil production to retail sales.
Proske said future supply options included importing fuel
via train or boat or buying gasoline from Pemex.
The plan follows BP Plc's announcement earlier this
year that the British oil giant would open about 1,500 service
stations in Mexico within five years.
Mexico is home to about 11,400 gas stations and is the
world's fourth biggest gasoline market, Mexico's energy minister
(Reporting by David Alire Garcia; Writing by Anthony Esposito;
Editing by Leslie Adler)