Shell is to invest $1bn over 10 years to build a large network of petrol stations in Mexico. The Anglo-Dutch energy group said it will take advantage of the newly opened fuel market in the central American country, the Financieele Dagblad said on Wednesday, citing Bloomberg wire service and Mexcan newspaper El Financiero.
Bloomberg and the Mexican paper were quoting Alberto de la Fuente, Mexican country director for Shell who was speaking at the opening of the first Shell station in the country.
Shell said it will open one or two petrol stations every week until the end of 2017 to achieve a ‘double-digit’ market share. Some petrol stations will be rebuilt from exisiting stations, others will be completely new.
The fuel sold by Shell will be produced by refineries owned by the Mexican state oil company Pemex.