The Mexican government has taken over operations at Air Liquide's H₂ processing plant at the Miguel Hidalgo refinery in Tula (Mexico). The plant will be operated by Pemex Transformación Industrial, with Air Liquide being compensated.

The move is part of President Andres Manuel Lopez Obrador's efforts to increase state control and cement state power, which has resulted in a series of conflicts between the government and private companies. Air Liquide had been supplying H₂ to the Tula refinery since 2017 but the takeover has raised concerns for the French company.

Source: Bloomberg