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    LyondellBasell Industries NV (LYB)

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    LyondellBasell Industries N.V. is a global chemical company engaged in the production and marketing of chemicals, plastics, and refining products across the petrochemical value chain. The company operates through six segments, offering a diverse range of products including olefins, polyolefins, propylene oxide, and refined products . LyondellBasell's strategic operations and product lines enable it to maintain a strong presence in the global chemical industry .

    1. Refining - Processes crude oil into refined products like gasoline and distillates, significantly contributing to the company's revenue.
    2. Olefins and Polyolefins-Americas (O&P-Americas) - Produces and markets olefins, co-products, polyethylene, and polypropylene, with polyethylene and polypropylene being major contributors to consolidated revenues.
    3. Olefins and Polyolefins-Europe, Asia, International (O&P-EAI) - Engages in the production and marketing of olefins, co-products, polyethylene, and polypropylene across Europe, Asia, and international markets.
    4. Intermediates and Derivatives (I&D) - Produces propylene oxide and derivatives, oxyfuels, and intermediate chemicals, with oxyfuels and related products contributing to consolidated revenues.
    5. Advanced Polymer Solutions (APS) - Focuses on compounding and solutions, including polypropylene compounds and engineered plastics.
    6. Technology - Develops and licenses chemical and polyolefin process technologies and manufactures polyolefin catalysts.
    NamePositionExternal RolesShort Bio

    Agustin Izquierdo

    Executive

    Executive Vice President and Chief Financial Officer

    None

    Agustin Izquierdo became CFO in March 2025, having joined LYB in 2022. He has a background in finance and strategy from BASF and Morgan Stanley.

    Dale Friedrichs

    Executive

    Executive Vice President, Operational Excellence and HSE

    None

    Dale Friedrichs has been with LYB for 28 years and is leading the Value Enhancement Program to improve operational excellence.

    James Seward

    Executive

    Executive Vice President and Chief Innovation Officer

    None

    James Seward has been with LYB for over 30 years, driving innovation and sustainability initiatives, including the MoReTec technology.

    Jeffrey Kaplan

    Executive

    Executive Vice President and General Counsel

    None

    Jeffrey Kaplan is the EVP and General Counsel, with his signature on filings as recent as August 2024.

    Kim Foley

    Executive

    Executive Vice President, Global Olefins & Polyolefins, Refining and Supply Chain

    None

    Kim Foley has been with LYB for over 35 years and became EVP in March 2024. She has led various business segments and played a key role in sustainability initiatives.

    Michael McMurray

    Executive

    Executive Vice President and Chief Financial Officer

    None

    Michael McMurray is retiring effective March 1, 2025, and will serve in an advisory role until March 2026. He has been instrumental in LYB's financial strategy and performance.

    Peter Vanacker

    Executive

    Chief Executive Officer

    Supervisory Board Member at Symrise AG

    Peter Vanacker has been CEO since May 2022, focusing on sustainability and circular economy initiatives. He previously held leadership roles at Neste Corporation and CABB Group GmbH.

    View Report →

    Torkel Rhenman

    Executive

    Executive Vice President of Advanced Polymer Solutions

    None

    Torkel Rhenman joined LYB in July 2019 and leads the APS segment, focusing on customer service and operational excellence.

    Yvonne van der Laan

    Executive

    Executive Vice President of Circular and Low Carbon Solutions

    None

    Yvonne van der Laan joined LYB in 2019 and leads the Circular and Low Carbon Solutions business, focusing on sustainability and recycling initiatives.

    Anthony Chase

    Board

    Non-Executive Director

    Director at Cullen/Frost Bankers, Inc., Nabors Industries Ltd., and Par Pacific Holdings, Inc.

    Anthony Chase has been a Non-Executive Director since 2021, with a background in entrepreneurship and law. He is involved in various non-profit boards and organizations.

    Jacques Aigrain

    Board

    Chair of the Board

    Director at Clearwater Analytics Holdings Inc. and TradeWeb Markets Inc.

    Jacques Aigrain has been a Non-Executive Director since 2011 and Chair since 2018. He has extensive experience in financial services and board governance.

    Lincoln Benet

    Board

    Non-Executive Director

    Director at Warner Music Group Corp.

    Lincoln Benet has been a Non-Executive Director since 2015, with a background in finance and strategic planning. He is the Chair of the Finance Committee.

    Michael Hanley

    Board

    Non-Executive Director

    Chair of the Board at EQB Inc.

    Michael Hanley has been a Non-Executive Director since 2018, with extensive experience in finance and capital markets. He is the Chair of the Audit Committee.

    1. You mentioned that shutting down the Houston refinery by no later than the end of the first quarter of 2025 will expand your average EBITDA margin by about 4 percentage points . How do you plan to offset the loss of revenue from the refinery operations and ensure sustainable profitability during this transition?

    2. With only 13% of your global capacity in the European assets under strategic review , what specific criteria are you using to decide whether to divest or rationalize these assets, and how will this reshape your presence in the European market?

    3. Despite the positive contributions from the new PO/TBA facility, you are idling PO11 due to current demand in the region . How do you plan to manage capacity utilization in the I&D segment if durable goods demand remains soft, and what are your strategies to maintain profitability?

    4. You have unlocked nearly one-third of your goal to add $3 billion in incremental normalized EBITDA by 2027 during 2023 . Can you provide more details on the specific initiatives and investments that will drive the remaining two-thirds, particularly in the face of challenging market conditions?

    5. The impact of Hurricane Beryl is estimated to reduce third-quarter EBITDA by approximately $65 million, with 75% in your O&P-Americas segment . Given the increasing risk of such weather events, what measures are you taking to mitigate future operational disruptions and financial impacts?

    Program DetailsProgram 1
    Approval DateMay 24, 2024
    End Date/DurationNovember 24, 2025
    Total additional amount34.0 million shares
    Remaining authorization32.8 million shares
    DetailsThe program allows repurchase through open market purchases, private transactions, or other structured transactions. Shares may be retired or used for corporate purposes, including employee benefit plans.
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt Calculation
    2024$121Precious Metal Financings1.21.1% = (121 / 11,260) * 100
    2024$7Current Maturities of Long-Term DebtN/A0.1% = (7 / 11,260) * 100
    2025$486Guaranteed Notes1.254.3% = (486 / 11,260) * 100
    2026$553Guaranteed Notes0.8754.9% = (553 / 11,260) * 100
    2027$888Guaranteed Notes3.5 / 8.17.9% = (888 / 11,260) * 100
    2030$605Guaranteed Notes3.375 / 2.255.4% = (605 / 11,260) * 100
    2031$552Guaranteed Notes1.6254.9% = (552 / 11,260) * 100
    2033$495Guaranteed Notes5.6254.4% = (495 / 11,260) * 100
    2034$738Guaranteed Notes5.56.6% = (738 / 11,260) * 100
    2040$742Guaranteed Notes3.3756.6% = (742 / 11,260) * 100
    2043$726Guaranteed Notes5.256.4% = (726 / 11,260) * 100
    2044$982Guaranteed Notes4.8758.7% = (982 / 11,260) * 100
    2049$976Guaranteed Notes4.28.7% = (976 / 11,260) * 100
    2050$981Guaranteed Notes4.28.7% = (981 / 11,260) * 100
    2051$935Guaranteed Notes3.6258.3% = (935 / 11,260) * 100
    2055$975Senior Notes4.6258.7% = (975 / 11,260) * 100
    2060$486Guaranteed Notes3.84.3% = (486 / 11,260) * 100
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2008 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    APK AG

    2024

    In August 2024, LyondellBasell acquired full ownership of APK AG to expand its Circular and Low Carbon Solutions business, enhancing its recycling portfolio with solvent-based recycling technology that targets hard-to-recycle flexible plastic waste.

    National Petrochemical Industrial Company (NATPET)

    2024

    In 2024, LyondellBasell acquired a 35% interest in NATPET for approximately $500 million, leveraging its Spheripol PP technology to boost its global polypropylene business and exploring future capacity expansion via PDH and PP investments in line with Saudi Vision 2030.

    Mepol Group

    2023

    Completed in early July 2023, the acquisition of Mepol Group, a producer of recycled high-performing technical compounds in Italy and Poland, aligns with LyondellBasell’s sustainable solutions strategy by strengthening its expertise in circular recycling and compounding.

    Quality Circular Polymers (QCP)

    2023

    In April 2023, LyondellBasell acquired the remaining 50% interest in QCP, integrating mechanical recycling facilities in The Netherlands and Belgium with an annual capacity of 55,000 tons, to support its strategy for circular and renewable solutions.

    Recent press releases and 8-K filings for LYB.

    LyondellBasell Outlines Strategic Progress and New Investment Projects
    LYB
    New Projects/Investments
    Dividends
    • EBITDA Growth Targets: The company aims to add $2 billion in normalized EBITDA by 2025 and $3 billion by 2027, with significant contributions from its Value Enhancement Program generating over $800 million in recurring annual EBITDA improvements.
    • New Investment Initiatives: LyondellBasell discussed plans for a second flex unit in North America converting ethylene to propylene and a strategic feedstock allocation project in Saudi Arabia that leverages competitively priced ethane and butane for a cost-advantaged position.
    • Portfolio Optimization: The company is actively optimizing its asset portfolio by divesting noncore ethylene oxide and derivatives and reassessing European assets to focus on more sustainable and profitable operations.
    • Capital Discipline and Cash Flow Focus: Emphasis was placed on maintaining strong cash generation, disciplined capital allocation, and efficient working capital management, supporting continuous dividend increases and a robust balance sheet.
    Mar 12, 2025, 3:16 PM
    LyondellBasell Provides Strategy and Financial Update at J.P. Morgan Industrials Conference 2025
    LYB
    New Projects/Investments
    Guidance Update
    • Strategy focus: The presentation detailed how LyondellBasell is advancing its strategy by growing and upgrading its core business, developing a profitable Circular & Low Carbon Solutions segment, and reshaping its culture to drive continuous value creation.
    • Financial guidance: The company outlined its incremental normalized EBITDA targets for 2025—ranging from $0.4B to $0.7B with potential unlocks of up to $0.9B—and highlighted recent successes including a mid-cycle EBITDA start-up providing approximately $450M and recurring annual benefits from its Value Enhancement Program.
    • Strong cash and market outlook: Emphasis was placed on robust cash generation, with $3.8B cash from operating activities in 2024 and a strong net debt to EBITDA ratio of 1.8x, while also noting a stable near-term demand environment in North America despite varied global conditions.
    Mar 12, 2025, 3:15 PM