Wal-Mart will open at least 200 gas stations in Mexico, José Antonio González, the director of state-owned oil giant Pemex, informed reporters this week.
Although Wal-Mart representatives have not yet confirmed the report, which was also revealed via a leak from the Mexican president’s office, it is clear the retailer has examined the possibility of entering this market.
Reforms approved during the beginning of Enrique Peña Nieto presidency have allowed private companies to compete with Pemex in the country’s energy sector. Several privately-operated gas station enterprises have already started up, including Gulf, Hidrosina, Oxxo Gas, Petro-7 and La Gas. Several are operating in the Guadalajara metropolitan area.
Through a partnership with the Murphy Oil Corporation, Wal-Mart operates around 1,100 gas stations in 24 U.S. states, most of them located on or near the forecourts of their stores.
Economic analysts say that while the margins for Wal-Mart in Mexico’s gas station market look slim, the diversification move should help bring more traffic to their stores.
Pemex’s González mentioned that oil giant Exxon is also looking at the Mexican market and could also open gas stations here in the near future.