Royal Dutch Shell said Wednesday it would invest $ 1 billion in Mexico over the next decade after the oil giant opened its first retail gas station in the country .
The investment in the world ’ s fifth -biggest consumer of gasoline depends on market conditions continuing to develop at their current rates, said Shell executive Istvan Kapitany.
The money is earmarked for “ expanding and improving the retail network , improving fuel logistics infrastructure and developing partnerships ” with Mexican consumers , said Kapitany , Shell ’ s Vice President of Retail .
Shell opened its first service station in the country on Tuesday , in the Mexico City suburb of Tlalnepantla.
Mexico reformed its energy sector in 2014 , ending the monopoly of state company Pemex and allowing foreign retailers to operate in the country for the first time since 1938 .
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