Lyondellbasell Industries N V Stock Price, News & Analysis

LyondellBasell is committed to combating food insecurity globally through significant donations and community support. In 2022, the company donated over $100,000, matched by an additional $60,000 from employee contributions, benefiting 29 partners worldwide. Its contributions include €25,000 to Stichting Voedselbank Rotterdam, supporting 2,000 families, and $25,000 to the Houston Food Bank as part of a three-year commitment, enabling the distribution of 2.3 million meals annually. Further donations included $10,000 to Tri-State Food Bank in Indiana and €10,000 to La Banque Alimentaire Des BDR in France. Through its Advancing Good program, LyondellBasell enhances food production, storage, and transport with essential materials.

LyondellBasell (NYSE: LYB) will announce its first-quarter 2023 financial results before the U.S. market opens on April 28, 2023. A webcast and teleconference will follow at 11:00 a.m. EDT to discuss the results, hosted by David Kinney, Head of Investor Relations. Participants can access the webcast via the company’s website. Replays of the call will be available from 1:00 p.m. EDT on April 28 until May 28, 2023. LyondellBasell, a leader in the global chemical industry, is focused on sustainable solutions and aims to be the best-operated company within its sector.

LyondellBasell has signed a letter of intent with EEW Energy from Waste to explore a long-term partnership aimed at extracting and recycling plastics from incineration waste streams. The collaboration may involve the construction of waste pre-sorting facilities at EEW incineration plants, along with investments in advanced sorting technology. This initiative aligns with LyondellBasell's strategy to enhance its Circular and Low Carbon Solutions business by producing plastic waste-based feedstocks, thereby reducing fossil CO2 emissions from combustion.

LyondellBasell has signed a letter of intent (LOI) with EEW Energy from Waste to explore a strategic partnership aimed at extracting and recycling plastics from incineration waste. This collaboration may involve building waste pre-sorting facilities near EEW's incineration plants and investing in advanced sorting technologies. The initiative aligns with LyondellBasell's strategy to enhance its Circular and Low Carbon Solutions business, improving recycling capabilities and reducing fossil CO2 emissions. The partnership represents a significant step towards a sustainable circular economy, targeting a more effective management of plastic waste.

LyondellBasell has entered into five long-term solar power purchase agreements (PPAs) with Grenergy, totaling approximately 329,000 megawatt-hours (MWh) annually. These contracts, which are set for 15 years, are expected to supply renewable energy equivalent to the annual consumption of over 90,000 European households, reducing LyondellBasell's greenhouse gas emissions by over one million tons. By achieving 70% of its target to procure half of its electricity from renewable sources by 2030, the company is on track to meet its sustainability goals and aims to reach net-zero emissions by 2050.