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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 .
- Refining - Processes crude oil into refined products like gasoline and distillates, significantly contributing to the company's revenue.
- 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.
- 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.
- Intermediates and Derivatives (I&D) - Produces propylene oxide and derivatives, oxyfuels, and intermediate chemicals, with oxyfuels and related products contributing to consolidated revenues.
- Advanced Polymer Solutions (APS) - Focuses on compounding and solutions, including polypropylene compounds and engineered plastics.
- Technology - Develops and licenses chemical and polyolefin process technologies and manufactures polyolefin catalysts.
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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?
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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?
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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?
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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?
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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?
Competitors mentioned in the company's latest 10K filing.
- Major integrated oil companies, refineries owned or controlled by foreign governments, and independent domestic refiners .
- Multinational chemical and refining companies, as well as some regional marketers and producers .
Recent developments and announcements about LYB.
Corporate Leadership
Leadership Change
Michael McMurray is retiring as CFO of LyondellBasell effective March 1, 2025. He will be succeeded by Agustin Izquierdo, currently the Senior Vice President, Olefins & Polyolefins Americas & Refining. McMurray will continue in an advisory role until his full retirement in March 2026. Izquierdo's extensive experience at BASF and Morgan Stanley positions him well for this role .
CFO Change
Michael McMurray, the current Chief Financial Officer (CFO) of LyondellBasell Industries N.V., will retire effective March 1, 2025. Agustin Izquierdo has been appointed as his successor and will assume the role of Executive Vice President and CFO on the same date. McMurray will continue in an advisory role until his full retirement in March 2026 .