The content has been shared, if you want to share this content with other users click here.
French company Total has struck up an agreement with Gasored, an association of 30 service station owners in Mexico, to rebrand a network of around 250 service stations in and around Mexico City.
Total, which has sold its products in Mexico since 1982, is seeking to capitalize on the deregulation of the country's fuel sales and supply market as a result of the end of the monopoly of the sector enjoyed by state oil firm Pemex under the energy reform. The firm is thus aiming to significantly expand its activities in the country, the company said in a press release.
"Strengthening our presence in Mexico, Latin America's second-largest market for petroleum products, is in line with our strategy of enlarging our network in growth regions," said Momar Nguer, Total's president of marketing and services.
The first Total-branded stations will open by the end of the year, with deployment set to continue in 2018 and 2019, offering consumers and business customers the company's full lineup of fuels and lubricants, as well as a broad range of products and services, the company said.
Total also has interests in four exploration blocks it was awarded in auctions last year, two of which it operates.
The company is the latest in a string of foreign firms to enter Mexico's fuels market, which includes BP, Chevron, ExxonMobil and Glencore.