Shell Minimizes Its Business in Mexico by Selling Its Gas Stations to Mexican Firm Iconn

The European giant Shell’s dream of doing business in Mexico fades little by little. Seven years away since the Anglo-Dutch company installed its first petrol station in the country, in the State of Mexico, the company has decided to sell its own service stations to Mexican Iconn. “Once the transaction is complete, customers will continue to have access to Shell’s premium fuels and lubricants through a long-term brand licensing agreement between…

Shell is reconfiguring its business strategy to focus on green energy and upstream, so the sale of the gasoline business to Grupo Iconn is in line with that global plan, said Alejandro Montufar, an expert at PetroIntelligence. “Shell is trying to focus both on green issues, but also on the upstream segment. In fact, the issue they want to buy from BP has sounded, they want to buy the whole operation, so I think this is a little aligned with that…