Mexico: Petro-7 Fuel Retail Network 2017 Expansion Plans

Mexico: Petro-7 Fuel Retail Network 2017 Expansion Plans

Target of 30 new fuel service stations to be opened this year by Petro 7, which is owned by the convenience store chain, 7-Eleven

Investing as much as 400 million pesos, or US $21 million, the 7-Eleven convenience store chain has plans to open 30 more fuel service stations this year in Mexico under its Petro-7 brand. Based in Texas, 7-Eleven is an international company operating over 1,700 convenience stores in Mexico.

Though at present the company owns 215, only three operate under the Petro-7 brand, and many are in the process of being converted from Pemex fuel service stations. Between 25 and 50 new fuel service stations a year are being planned to be opened by the company. Sales increased 25%-30% at the three fuel service stations after the company introduced its new brand recently. Gross profit has remained consistently at 0.91 pesos per liter since last year proving that the increase was not related to the January hike in fuel prices. 

FullGas, which is a Mexican firm interested in the fuel service station sector has intentions of bringing the Texaco brand to Mexico. Currently operating seven fuel stations, Hidrosina expects to close the year with up to 12. It has signed an agreement with state fuel company Pemex putting the firm closer to its goal of 20 fuel service stations. British Petroleum had recently declared its intention of opening 1,500 fuel service stations in Mexico in the next five years.

These companies, in addition to several others, are placing their hopes on a market that was hitherto open only to Pemex. Source: MND PWKD11052017

Last modified onSunday, 14 May 2017 19:27
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