Exxon to invest $300 million in Mexico gasoline stations

Exxon Mobil announced it will bring its Mobil-brand gas stations to Mexico, pumping $300 million in the coming decade as it seeks to gain a foothold in the country's retail fuel market.

Exxon expects to open its first service stations in Mexico later this year and will offer motorists its Synergy gasoline and diesel fuels, the U.S. oil company said.

The plan follows BP's announcement earlier this year that it would open about 1,500 service stations in Mexico in five years. Britain's BP told Reuters Wednesday that its foray into Mexico is proving more promising than expected, and that it would likely increase its investments in everything from exploration to retail fuel sales.

Source: Reuters