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Stock Market & Financial Investment News

News Breaks
March 13, 2013
12:02 EDTLYBLyondellBasell to expand Corpus Christi, Texas, cracker
LyondellBasel executives, led by CEO Jim Gallogly, told participants at the company's Investor Day in New York how LyondellBasell is preparing to build upon its record 2012 performance which included $5.8B of EBITDA and earnings of $4.96 per share. LyondellBasell expects to begin construction this month on the first of several projects that will expand U.S. ethylene capacity by approximately 20%. LyondellBasell announced plans to expand its Corpus Christi, Texas, cracker by 800 million pounds per year of ethylene, with construction scheduled to begin in 2014 and projected completion in 2015. Construction associated with the La Porte, Texas, expansion is expected to begin this month and will add 800 million pounds per year of ethylene upon completion in 2014. A third project will add 250 million pounds per year of ethylene at Channelview, Texas, with completion projected in 2015. In another project to take advantage of low-cost natural gas supplies in the United States, LyondellBasell announced that construction has commenced on the restart of a 260 million gallon-per-year methanol plant at Channelview. Startup of the methanol plant is projected for fourth quarter 2013. Additionally, LyondellBasell said that the ongoing retrofit at the Houston refinery will enhance operating flexibility and accommodate a greater percentage of light domestic crude oil and heavy Canadian crude oil. In Europe, the 40% expansion of butadiene capacity at Wesseling, Germany is scheduled for completion later in 2013.
News For LYB From The Last 14 Days
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October 16, 2014
07:27 EDTLYBLyondellBasell recent sell-off overdone, says Deutsche Bank
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October 9, 2014
10:00 EDTLYBOn The Fly: Analyst Initiation Summary
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October 8, 2014
16:29 EDTLYBU.S. Chemicals sector initiated with an Overweight at RBC Capital
RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.
16:19 EDTLYBLyondellBasell initiated with a Top Pick at RBC Capital
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October 7, 2014
07:27 EDTLYBEU repreive on oil sands label a victory for Canada, WSJ says
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