France said on Wednesday that it would renationalize its state-backed electricity giant to help ensure the country’s energy sovereignty as Europe faces a worsening energy crisis from Russia’s war in Ukraine.
President López Obrador wants to halt most oil exports and imports of gasoline and other fuels. Critics say he is reneging on Mexico’s climate change commitments.
Venezuela’s oil reserves, the world’s largest, transformed the country and the global energy market. Now its oil sector is grinding to a halt — perhaps never to recover.
The state oil company was under pressure after ConocoPhillips, which had won an arbitration ruling in a decade-long fight, seized cargoes and terminals to force compliance.
