Olaf Carrera, the director of British Petroleum (BP), has confirmed that his company will enter the gas station market in Mexico.
Founded in 1909, this UK-based company has a value of $99 billion. Now, it is planning to penetrate a market that has generated around $18.8 billion annually in gasoline sales from the period of 2011 to 2015.
BP has actually been doing business in Mexico for 50 years, distributing and marketing Castrol lubricants since 1960. But today, the company is largely engaged in marketing oil, natural gas, and other refined petrochemicals, and it wants to take this business to the South American country. It has already around 70 employees in Mexico, with offices located in the capital.
In 2012, the company faced a huge environmental scandal, following an oil spill in the Gulf of Mexico that was sanctioned by American authorities.
Now, BP is entering a highly competitive market in the region with other big players, such as Hidrosina, Gulf, OxxoGas, Petro Seven, LaGas, and Petróleos Mexicanos (Pemex).