MEXICO CITY, Sept 5 (Reuters) – Anglo-Dutch oil major Royal Dutch Shell opened its first gas station in Mexico on Tuesday, adding to a growing list of foreign-branded pumps in a market still dominated by the green-colored outlets of state-owned company Pemex.
Following a 2013 constitutional energy overhaul that ended Pemex’ decades-long monopoly, private companies can now brand gas stations and sell non-Pemex brand gasoline and diesel, as well as import fuels.
The opportunities are huge for the private sector in the fuel market of Latin America’s second-biggest economy, with Mexico now one of the world’s biggest gasoline consumers and the top foreign importer of U.S. gasoline.
Shell said in a statement it plans to open an unspecified number of additional service stations and that investment in Mexico’s fuel sector could reach about $1 billion over the next decade “if current market conditions are maintained.”
The company’s inaugural gas station, which also features a convenience store, is located in a northwestern suburb of the sprawling Mexican capital.
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