Photo caption: Shell logo
Shell Mobility is exiting Mexico’s fuel retail market, transferring its operations to local conglomerate Iconn, the parent company of Petro Seven and 7-Eleven. The move includes over 200 service stations, convenience stores, and key fuel import infrastructure—an acquisition that positions Iconn as a leading player in Mexico’s evolving energy and retail space.
The deal, pending regulatory approval, is expected to close by Q3 2025 and marks a major realignment in Mexico’s fuel distribution sector. Among the assets acquired are Shell’s import license, logistics networks, and retail stations located in high-traffic areas and transport corridors.
Through this acquisition, Iconn gains end-to-end control of the fuel value chain—from imports and logistics to retail and fleet fueling. The integration of Shell’s proprietary technologies, loyalty programs, and advanced digital tools will further enhance Iconn’s offerings and operational capabilities.
Already a dominant force through Petro Seven and 7-Eleven, Iconn now has the scale and infrastructure to compete directly with Pemex and other major brands. Whether maintaining Shell branding through licensing or rebranding under its own banners, Iconn will inherit a premium network and critical supply flexibility.
Shell’s departure highlights the challenges foreign firms face in Mexico’s downstream energy market, including tighter fuel import regulations and a tougher regulatory environment. The move echoes recent setbacks experienced by other international players, such as Valero.
For Iconn, however, the acquisition signals opportunity. By taking over Shell’s high-standard facilities and supply systems, the company is poised to raise the bar in service, safety, and customer experience. It also reflects a shift in Mexico’s energy landscape—where local firms are increasingly stepping into leadership roles once held by global players.
=== Oilprice ===
