Carlos Reyes, general manager of Texaco in El Salvador, told La Prensa Gráfica, "It is true that we are going to leave the service station business, our strategy is to make the sale of fuel a profitable business for both Texaco and for Salvadoran entrepreneurs working with us.”

The executive's statements were caused by rumors from different distributors about the possibility of the multinational selling its assets.

Source: laprensagrafica.com

More on this topic

Puma Changes Business Model in Gas Stations

June 2012

The multinational Puma Energy is passing on administration of service stations operations to Nicaraguan entrepreneurs.

The Swiss company Puma Energy, which bought Exxon Mobil's operations in Central America, is applying a decentralization policy to the management of its gas stations in Nicaragua.

Puma Energy Announces Continued Expansion in Guatemala

January 2012

The company plans to open 80 new service stations in an attempt to consolidate themselves as the second largest in the Guatemalan market.

During the course of this year, share purchases will be completed with ExxonMobil in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama.

Puma Energy to Invest in New Gas Stations in Guatemala

September 2010

The investment, worth almost $2 million, will enable the fuel importer to open new stations by the end of 2010.

Puma Energy's General Manager, Juan Ángel Díaz, indicated that their expansion plan seeks to position the company as an alternative to traditional companies, particularly outside urban centers.

Texaco Expands in Guatemala

April 2010

The company’s plans include investing $2 million in building 4 new gas stations.

Mario Castellanos, general manager of Chevron Guatemala, Inc., that runs Texaco in the country, explained these investments will be executed by third parties. Currently there are 86 Texaco gas stations in Guatemala.