Mexico's Pemex Chain Joins U.S. C-store Market
HOUSTON — Pemex, Mexico's state-run oil company, entered the U.S. market with its first gas station in Houston on Thursday. Located at 9722 Park Place Boulevard, it is the first of five franchised Pemex gas stations scheduled to open in the city during December.
The company selected Houston based on its large Hispanic population and competitive gas station market.
Gasoline sold at Pemex's Houston stations will come from the U.S. wholesale market rather than Mexico's.
"This pilot program will allow us to judge the impact of the Pemex brand against others and will identify business opportunities as part of our evaluation process to enter other external markets," Pemex officials said in a released statement.
Pemex's expansion into the U.S. was prompted by a major energy reform in Mexico that ended the company's domestic monopoly and will require it to generate value and compete with other oil companies.
The new Houston Pemex station is self-service, although Mexican Pemex stations are all full-service. The station also includes a Taco Shack restaurant and a convenience store.