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Article

9 Jan 2017

Author:
Gilda di Carli, The Guardian (UK)

Mexico: US Export-Import Bank provides loans to oil firm Pemex despite worker injuries & deaths, environmental damage

“Export-Import Bank gave $8.5bn to Mexico oil firm despite deadly accidents” 28 Dec 16

…Since January 2009, the US Export-Import Bank has signed almost $34bn worth of low-interest loans and guarantees to companies and foreign governments to build, expand and promote fossil fuel projects abroad…[O]ne company benefited more than any other. The Mexican state-owned oil company, Petróleos Mexicanos, or Pemex, has collected more than $8.5bn…from the Ex-Im Bank…During this period, more than 190 Pemex workers and contractors have died and more than 570 were injured as a result of fires, explosions and offshore rig collapses, according to data compiled by Columbia University’s Graduate School of Journalism’s Energy and Environmental Reporting Project and Guardian US. The Mexican oil company has also suffered at least 31 major accidents since 2009 involving fatalities, injuries or environmental destruction and contamination…Pemex refused repeated requests for comment for this article…Masud Hasan, environmental engineer at the Export-Import Bank, said safety is a primary concern when considering financing…If the bank is “financing these actors, they should be careful and call out Pemex – especially for the more vulnerable communities that have been affected by the activities,” said Karen Hudlet, a researcher and representative for Business and Human Rights Resource Center, a human rights watchdog group…