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May 27, 2017

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Mexicans line up at first foreign-owned gas station

MEXICO CITY- Mexicans are lining up at the first private gasoline station operated by a foreign firm.

Until last year, all Mexican gas stations operated under the brand of the state-owned petroleum company Pemex.

Now Pemex has competition from BP, whose first station opened this week on the outskirts of Mexico City.

Customers were drawn by what BP calls its "Active technology," apparently a gasoline additive.

The opening of the retail sector to competition was part of energy reforms passed in 2014.

Two private Mexican companies opened three gas stations under their own brands in June.

Mexico's oil industry was nationalized in 1938, but recent reforms aim to attract private investment to bolster the country's falling crude production.

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