Home Business-newBusiness Fullgas expands due to withdrawal of foreign brands

Fullgas expands due to withdrawal of foreign brands

by Yucatan Times
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In the last six months, the gas station company, originally from Yucatán, added 21 new establishments thanks to the fact that brands such as BP, Total, and Gulf have left the business.

Sebastián Figueroa, general director of the gas station brand originally from Yucatán, Fullgas, which already has more than 180 service stations in the country and Guatemala, said that in six months they managed to open 21 establishments in Puebla, one of the cities with the most competition, thanks to the fact that brands like BP, Total and Gulf have left the business, just as in oil exploration and production, both because they did not find favorable conditions for their business, and because the rules and their changes have caused uncertainty among foreigners, a situation that benefits Mexican gas stations.

In an interview in Mérida, Yucatán, after the presentation of his classic car team with which he will compete for the second year in the Pan-American race next October, he recalled that the sector did have a delay in opening to competition after the pandemic and The administrative slowness of the Energy Regulatory Commission (CRE), but with patience and understanding of the dynamics of this administration, has improved.

In Puebla, Fullgas bought four service stations from BP, three from Gulf, and the rest from the French franchise Total.

“Many companies only came to speculate and that must be said. It’s good that they did it, that’s what the opening was for, but when it comes to taking risks for the country, we are the Mexican brands, who without stopping doing business understand and seek the growth of everyone,” Figueroa told to El Economista.

In an interview, he explained that there were undoubtedly delays in the delivery of permits for new gas stations by the authority during the six-year term and that they were largely caused by the Covid-19 pandemic, but with patience, groups like the one he directs managed to grow. For example, Fullgas opened an average of five new gas stations for $2 million each year of the current administration.

“Yes, we have always said that we are overregulated, that there are too many obstacles in the rules and the way they are implemented, there may be those who choose not to follow it, but there are others who take the risk.”

In 2017, Fullgas had 60 service stations in Mexico. Today it supplies 150, with its brand or white flag, but owned by it. The group also has 32 establishments in Guatemala and both in the neighboring country and here, they buy gasoline in spot markets and with long-term contracts from the highest bidders, whether Pemex or whoever is more convenient.

Fullgas has plans to open new establishments in Campeche and Quintana Roo, the region where this one originates, which began as a family business and today has even expanded into other branches, such as Yucatecan culture through a free-visit showroom that exhibits in the state capital. some of its 53 classic car models from around the world.

TYT Newsroom

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