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Stock Market & Financial Investment News

News Breaks
March 1, 2013
12:21 EDTLYBLyondellBasell spikes higher, levels to watch
The Houston Biz Journal noted that the CEO of LyondellBasell (LYB) is studying the possibility of converting an ethylene cracker to a Master Limited Partnership, or MLP, structure. The stock spiked higher on that news, but has come in a bit from the highs of the session at $60.64, which is now resistance. Support is at $58.94.
News For LYB From The Last 14 Days
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September 29, 2014
16:44 EDTLYBLyondellBasell CEO Gallogly to retire in early 2015
LyondellBasell announced that CEO James L. Gallogly will retire from the company in early 2015. Gallogly will continue to serve as CEO and chairman of the LyondellBasell management board in the interim to ensure an orderly transition pending the selection of his replacement. The LyondellBasell supervisory board of directors has formed a committee to choose Gallogly's successor.
September 24, 2014
06:04 EDTLYBLyondellBasell evaluating further expansion at Channelview
LyondellBasell announced that it is evaluating a further expansion project at its petrochemical plant in Channelview, Texas, that would potentially add up to 550M pounds-per-year of ethylene capacity. Preliminary engineering work is already underway to assess expansion feasibility. If the project proceeds, the anticipated time frame for completion would be 2017. The proposed expansion project would be in addition to work already underway to install two large cracking furnaces at the Channelview site that are slated to increase production by 250M pounds-per- year when construction work is expected to be completed early next year. In addition to expansion at Channelview, LyondellBasell is increasing ethylene capacity at two other Texas plants. An 800 million pounds-per-year expansion has just been completed in La Porte. And an additional 800 million pounds of capacity are being added at the company's site in Corpus Christi, which is scheduled for completion in late 2015. When all three are completed, a total of 1.85B pounds of ethylene capacity are expected each year. This figure will increase to 2.4B if the additional expansion project is finalized.
September 16, 2014
07:39 EDTLYBCredit Suisse to hold a conference
Basic Materials Conference to be held in New York on September 16-18.

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