……..Chevron Announces $18.3 Billion Capital and Exploratory Budget for 2018
….Crude oil exports from both the U.S. and Canada are increasing to higher-priced Asian and other foreign markets.
…….That combines with the fact that American refineries already lead the world in the export of oil products.
………LNG exports from North America to both Asia and Europe are on the rise.
…..All of this presents exciting opportunities for U.S. oil and gas producers to sell abroad, even if the domestic usage side of the equation only changes marginally.
………The next two years – and beyond – will be brimming with profitable energy plays.
ExxonMobil announced today a partnership with retailer Grupo Orsan to open eight Mobil-branded service stations this week in Querétaro as part of the company’s entry in Mexico’s fuels market. ExxonMobil plans to open 50 Mobil stations in the Bajio region by the end of the first quarter of 2018.
ExxonMobil is the first company to fully leverage Mexico’s new energy model and provide an integrated product offering along the entire fuels value chain. The new Mobil-branded stations will be operated by Grupo Orsan and supplied with gasoline and diesel produced by ExxonMobil’s refineries in Texas. Fuels will be distributed by rail through two private fuels terminals located in San Luis Potosi and San Jose Iturbide. This is part of ExxonMobil’s long-term commitment to invest $300 million in fuels logistics, product inventories and marketing in Mexico over the next 10 years.
“The opening of these first eight Mobil service stations, made possible by Mexico’s new energy policy regime, is a significant milestone for the country and our company,” said Carlos Rivas, fuels director for ExxonMobil Mexico. “We look forward to helping meet the country’s growing demand for energy with a reliable supply of high-quality fuels and a positive customer experience.”
“Orsan’s partnership with ExxonMobil will increase our competitiveness in the fully deregulated fuels market, supported by a globally prestigious brand like Mobil and a unique marketing offer designed to attract consumers,” said Carlos Sandoval, chief executive officer of Grupo Orsan.
With the introduction of Mobil-branded stations and Synergy™-branded fuels in Mexico, ExxonMobil is presenting a breakthrough forecourt and our most advanced fuel formulations. ExxonMobil’s Synergy product line increases engine-cleaning power, helping improve engine performance, responsiveness and fuel economy compared to gasoline meeting minimum Mexican government standards. The fuels will be marketed as Mobil Synergy Supreme+, Mobil Synergy Extra and Mobil Synergy Diesel.
ExxonMobil will also launch a Guaranteed Fuels program to help assure Mobil customers, through routine visits to stations, that the fuels meet ExxonMobil’s stringent quality requirements and correct quantities are being sold. The program will be supported by an independent company that specializes in inspection, product testing and certification.
ExxonMobil has maintained a presence in Mexico for more than 130 years with other businesses and sales in the country, including chemicals and Mobil-branded lubricants, as well as interest in oil and gas exploration, where the company anticipates continued growth.
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, and is one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers. Follow ExxonMobil on Twitter: www.twitter.com/exxonmobil.
About Grupo ORSAN
Grupo Orsan is one of the leading Mexican companies in the domestic fuel sales market. Founded in 1968, it has more than 150 service stations, 1,400 affiliated service stations in its eWallet network, and a fuel distribution service for self-consumption facilities. Its experience has positioned Grupo Orsan as the top diesel distributor in Mexico.