Total Expands Presence in Mexico
Although it’s maintained a presence in Mexico for more than three decades, French supermajor Total will soon say hello to another segment of the country’s petroleum industry.
“We are pleased with this commercial arrangement with GASORED,” Momar Nguer, Total’s president of marketing and services, said in a company statement Thursday announcing a deal with the group of service station owners to rebrand approximately 250 Mexico City-area retail outlets under the Total brand. “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.”
Total’s agreement with the 30-member GASORED group opens a new chapter in Mexico for Total, which already operates in the country’s specialty chemicals, lubricants, additives, special fluids and exploration sectors. Thanks to energy market reforms, various internationally recognized branded fuel retailers – BP, ExxonMobil and others – have been entering Mexico.
Total-branded service stations should begin to open in Mexico by the end of this year, and the rollout should continue through 2018 and 2019, Total noted.
“The Total-branded outlets will offer consumers and business customers the company’s full lineup of fuels and lubricants, as well as a broad range of products and services,” Total stated.
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