LyondellBasell says has seen a good start to 2013 The company said, "We have seen a good start in 2013. Our assets have run well through the early weeks of the new year. Overall, the fundamentals that supported our success during 2012 have continued. Our employees remain very focused, and we anticipate another strong year in 2013. Olefins in North America continue to benefit from strong margins created by low priced natural gas liquid raw materials. However, outside of North America, the global olefins industry continues to experience low operating rates and profitability, negatively impacting our European olefins and commodity polyolefin businesses. The diversified portfolio of businesses in our Intermediates and Derivatives segment continues to realize solid performance. Our Refining segment will be impacted by a turnaround in the first quarter as we complete scheduled maintenance at our Houston refinery."
Nomura taking a bullish long-term view on ethylene Nomura believes the market is overestimating the potential decline in ethylene/polyethylene margins. The sees the current global tightness as a bullish sign for 2016-2017 and recommends positioning Dow Chemical (DOW) over LyondellBasell (LYB) due to lower reliance on an upside ethylene margin story.