Spain’s Repsol has opened its first gas stations in Mexico and says it’s aiming for up to 10 percent market share within five years.
A company statement says 10 stations launched Monday including one in Mexico City that employs 50 workers and can handle over 2,000 clients a day.
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Repsol adds that it plans to operate 200 stations in the country by the end of 2018 and add 250 per year after that.
Before 2016, all gas stations in Mexico operated under the brand of state oil company Pemex. But an energy overhaul pushed through by President Enrique Pena Nieto now allows competition.
Some private Mexican companies and BP have since opened their own stations in the country. Exxon Mobil also has plans to open stations in Mexico this year.
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