Mexico: Hidrosina eyes petrol storage and distribution business
Grupo Hidrosina, one of Mexico’s largest petrol station groups, does not discount the possibility of venturing into profitable businesses such as storage and distribution of oil products, reported Dinero en Imagen.
Hidrosina general director Paul Karam, in an interview with Mexican daily Excelsior, said that an alliance formed with other gas station groups will allow it to take advantage of business opportunities not only from petroleum sales but also from other areas which will generate revenues in the long run.
Earlier this month, eight gasoline station groups, composed of Hidrosina, Corpogas, Lodemo, Esges, Enerkom, Octan Fuel, Gasored, and Grupo Cargo, formed an alliance that will help them make the most of the opening of Mexico’s oil industry and at the same time protect their market. The alliance results in the country’s largest network of gasoline stations, numbering to more than 1,264.
With the country’s Energy Reforms, “important opportunities such as distribution and storage become available. The idea is to explore, expand the business chain of selling petroleum. One has to take a few steps back in storage and distribution at a given time in order to improve and make the business profitable,” Karam said in Spanish.
