Shell Refinery Royal Dutch Shell

Shell to Invest $1 Billion in Mexico

Shell opened its first service station in the country on Sept. 5, in the Mexico City suburb of Tlalnepantla.

Royal Dutch Shell said on Sept. 6  that it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country.

The investment in the world's fifth-biggest consumer of gasoline depends on market conditions continuing to develop at their current rates, said Shell executive Istvan Kapitany.

The money is earmarked for "expanding and improving the retail network, improving fuel logistics infrastructure and developing partnerships" with Mexican consumers, said Kapitany, Shell's Vice President of Retail.

Shell opened its first service station in the country on Sept. 5, in the Mexico City suburb of Tlalnepantla.

Mexico reformed its energy sector in 2014, ending the monopoly of state company Pemex and allowing foreign retailers to operate in the country for the first time since 1938.

Copyright Agence France-Presse, 2017

TAGS: The Economy
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish