The FINANCIAL — BP on March 10 officially opened its first retail fuels site in Mexico as part of its plan to invest in the growing Mexican retail fuel and convenience market over the next five years.
Opened in the Satélite area of Mexico City, the new BP retail site is the first global oil company branded site operating in Mexico, since the country approved deregulation of the fuel retailing market in 2013. BP has plans that could see it open around 1,500 retail sites in Mexico over the next five years, part of its strategic intention to grow its retail business globally, according to BP.
BP Downstream chief executive officer Tufan Erginbilgic commented: “BP’s retail strategy is focused on delivering a strong, differentiated offer built around top-quality fuels, lubricants and convenience for consumers in growing markets worldwide. We are delighted to be the first international oil company serving Mexican consumers in what is the sixth-largest consumer gasoline and diesel market globally.”
The new BP sites in Mexico will feature inviting retail stores and full-service refueling islands offering BP fuels with ACTIVE technology, that help to protect consumers’ engines. Developed and tested by BP engineers and chemists in their world-class laboratories, this technology is unique to BP and new in the Mexican market.
“BP’s retail offer is already well-known in the US and Europe for high-quality fuels, Castrol lubricants and a great convenience offer,” said Álvaro Granada, general manager of BP’s retail business in Mexico. “We are delighted to bring our BP-branded fuel and convenience offer to consumers for the first time here in Mexico and look forward to opening more BP stations throughout the country and creating thousands of new retail jobs in the process.”
BP plans to open around 200 BP-branded retail sites in Mexico this year including both dealer and company owned-and-operated sites.
BP has more than 18,000 service stations in 19 countries around the world. In December 2016, BP and Woolworths Group agreed to enter a strategic partnership where BP will acquire and operate 527 retail sites in Australia, subject to regulatory approvals.
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