Walmex to enter newly opened Mexican retail fuel market [Reuters]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
Walmex to enter newly opened Mexican retail fuel market | Reuters 3 Min Read MEXICO CITY, Aug 16 (Reuters) - Wal Mart de Mexico , Mexico’s biggest retailer, said on Thursday that it will open gas stations alongside its domestic stores, joining other private companies that are now competing with Pemex, the country’s former monopoly fuel seller. Retail and convenience store chains are especially well positioned to tap into Mexico’s retail gasoline market, given their existing networks of stores where motorists can buy snacks and sodas while filling up their tanks. Wal-Mart de Mexico, known as Walmex, said its “first phase” includes six sites in the states of Tabasco, Nuevo Leon, Veracruz and Mexico, installed in shopping centers or parking lots of its Walmart, Sam’s Club and Bodega Aurrera stores. Private companies began jumping into Mexico’s retail fuel market after a 2013-14 energy sector overhaul ended state-owned oil company Pemex’s monopoly, which ranged from crude oil production t
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