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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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December 22, 2014
06:00 EDTLYBStocks with implied volatility below IV index mean; LYB GDP
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December 18, 2014
07:31 EDTLYBLyondellBasell names Bhavesh Patel as new CEO
LyondellBasell announced that the supervisory board has appointed Bhavesh V. "Bob" Patel as CEO, effective January 12, 2015. Patel has served as executive vice president, Olefins and Polyolefins Europe, Asia & International and Technology since October 2013. Patel succeeds James Gallogly, who previously announced his plan to retire.
December 16, 2014
08:18 EDTLYBLyondellBasell initiated with a Buy at Nomura
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December 10, 2014
07:40 EDTLYBBofA/Merrill to hold a conference
2014 U.S. Basic Materials Conference is being held in Boston on December 10-11.

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