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Stock Market & Financial Investment News

News Breaks
March 20, 2013
10:00 EDTLYBLyondellBasell seeks approval to buy back up to 10% of shares
LyondellBasell will seek approval at its May 22 annual meeting for the repurchase of up to 10% of its issued share capital, the company disclosed last night in a regulatory filing.
News For LYB From The Last 14 Days
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September 30, 2014
14:31 EDTLYBLyondellBasell shares defended at JPMorgan
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.

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