{"id":7872,"date":"2017-06-12T13:00:00","date_gmt":"2017-06-12T18:00:00","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=7872"},"modified":"2017-06-12T12:42:22","modified_gmt":"2017-06-12T17:42:22","slug":"repsol-said-to-mull-entry-into-mexicos-newly-opened-fuel-market","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/repsol-said-to-mull-entry-into-mexicos-newly-opened-fuel-market\/","title":{"rendered":"Repsol Said to Mull Entry Into Mexico&#8217;s Newly Opened Fuel Market"},"content":{"rendered":"<h4 class=\"lede-text-only__byline\" style=\"text-align: justify;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-06-07\/repsol-said-to-mull-entry-into-mexico-s-newly-opened-fuel-market\"><span style=\"font-family: Helvetica; font-size: 8pt;\">by Amy Stillman,\u00a0Rodrigo Orihuela, and\u00a0Adam Williams\u00a0\/\u00a0<\/span><span style=\"font-family: Helvetica; font-size: 8pt;\"><time class=\"article-timestamp\" datetime=\"2017-06-07T17:43:00.602Z\" data-type=\"updated\" data-status=\"localized\">7 de junio de 2017 12:43 GMT-5<\/time> <time class=\"article-timestamp\" datetime=\"2017-06-08T04:01:00.004Z\" data-type=\"updated\" data-status=\"localized\">7 de junio de 2017 23:01 GMT-5<\/time><\/span><\/a><\/h4>\n<div class=\"lede-text-only__times\">\n<ul class=\"abstract\" style=\"text-align: justify;\">\n<li class=\"abstract__item\">\n<h4 class=\"abstract__item-text\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: Helvetica;\">Company is conducting market study; has met with regulators<\/span><\/strong><\/span><\/h4>\n<\/li>\n<li class=\"abstract__item\">\n<h4 class=\"abstract__item-text\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: Helvetica;\">Spanish firm could make a decision as soon as next month<\/span><\/strong><\/span><\/h4>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;<a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/REP:SM\">Repsol SA<\/a>, Spain\u2019s biggest oil company, is studying Mexico\u2019s nascent fuel market as it considers whether to open gas stations in the country, people familiar with the plans said.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;Repsol could make a decision as soon as next month, one of the people said. A Repsol press officer declined to comment. A spokeswoman at Mexico\u2019s energy regulatory commission, or CRE, said that some commissioners met with Repsol in February.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;If it proceeds, Repsol would be following in the footsteps of companies such as Exxon Mobil Corp., BP Plc, and <a title=\"Company Overview\" href=\"https:\/\/www.bloomberg.com\/quote\/GLEN:LN\">Glencore Plc<\/a>, that have recently announced plans to invest in Mexico\u2019s fuel retail market, taking advantage of rules allowing firms other than state-owned Petroleos Mexicanos to import fuel since April 2016. &#8220;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;The Madrid-based firm, which has a refinery and network of more than 400 service stations in Peru, is only likely to be interested in markets where it can have a five percent share or more, one of the people said.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\"><a href=\"https:\/\/nrgibroker.com\/wp-content\/uploads\/2015\/12\/PEMEX-en-Houston-e1449529403254.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-5655 alignleft\" src=\"https:\/\/nrgibroker.com\/wp-content\/uploads\/2015\/12\/PEMEX-en-Houston-e1449529403254.jpg\" alt=\"PEMEX\" width=\"335\" height=\"224\" \/><\/a>&#8220;Mexico\u2019s recent energy industry opening was designed to lure investment and bring competition to a market formerly controlled by Pemex. However, the gradual elimination of fuel subsidies this year has also sparked social unrest as <a title=\"Mexico Gasoline Prices to Surge by the Most in Two Decades (2)\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2016-12-27\/mexico-gasoline-prices-to-surge-by-the-most-in-two-decades\" target=\"_blank\">prices at the pump increased<\/a> by as much as 20 percent in some regions in January.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;The slow pace of new regulations and infrastructure hurdles has meant that companies continue to rely on Pemex\u2019s pipeline and terminals to transport and store fuel, as well as to supply it in many cases.&#8221;<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Helvetica; font-size: 14pt;\">&#8220;Repsol has had a rocky relationship with Pemex,\u00a0which sold a stake of about eight percent in the Spanish firm in 2014, valued at $2.8 billion. The sale followed a lengthy dispute between the companies\u2019 boards of directors, with Pemex citing differences over corporate governance as one of the factors that led to the fallout, according to a statement at the time. &#8220;<\/span><\/p>\n<h4 class=\"lede-text-only__byline\" style=\"text-align: center;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-06-07\/repsol-said-to-mull-entry-into-mexico-s-newly-opened-fuel-market\"><span style=\"font-family: Helvetica; font-size: 8pt;\">by Amy Stillman,\u00a0Rodrigo Orihuela, and\u00a0Adam Williams\u00a0\/\u00a0<\/span><span style=\"font-family: Helvetica; font-size: 8pt;\"><time class=\"article-timestamp\" datetime=\"2017-06-07T17:43:00.602Z\" data-type=\"updated\" data-status=\"localized\">7 de junio de 2017 12:43 GMT-5<\/time> <time class=\"article-timestamp\" datetime=\"2017-06-08T04:01:00.004Z\" data-type=\"updated\" data-status=\"localized\">7 de junio de 2017 23:01 GMT-5<\/time><\/span><\/a><\/h4>\n<h4 class=\"lede-text-only__times\" style=\"text-align: justify;\"><\/h4>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>by Amy Stillman,\u00a0Rodrigo Orihuela, and\u00a0Adam Williams\u00a0\/\u00a07 de junio de 2017 12:43 GMT-5 7 de junio de 2017 23:01 GMT-5 Company is conducting market study; has met with regulators Spanish firm could make a decision as soon as next month &#8220;Repsol SA, Spain\u2019s biggest oil company, is studying Mexico\u2019s nascent fuel market as it considers whether [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5655,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[],"class_list":["post-7872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=7872"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/5655"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=7872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=7872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=7872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}