Follow up: deaths in Pajaritos explosion reach 32…Pemex reported that the number of workers killed rose to 32, of whom 26 have been identified (Spanish). Six people remain missing, and the Finance Minister announced the federal government will provide support to the families of the victims (Spanish).

 

…and Mexichem's production got hit too. The Pajaritos petrochemical plant will stop vinyl chain production for up to one year, causing losses of MXN1.6bn for Pemex and Mexichem and reducing the availability of PVC in the country (Spanish). Mexichem shares suffered their biggest three-day slide since January 2015, falling 8.1% after the explosion (English).

 

Mexichem seems to be accident prone. The number of accidents at Mexichem plants worldwide during this decade are double the corresponding figures for Pemex (Spanish). Sustainability reports of both firms indicate that Mexichem had 1.2 accidents per million man-hours worked between 2011 and 2014, while Pemex had 0.52 mishaps per million man-hours.

 

Wind farm financing in Juchitán is in trouble. The PGGM pension fund of the Netherlands withdrew its 250 million Euro investment for the wind project in the Isthmus. The reason is that after four years of delays nothing has come of the project and it will not be profitable enough (Spanish).

 

 

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