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LyondellBasell Industries N.V. reports news about its global chemical and polymers business, including quarterly earnings, segment performance and management discussion of petrochemical market conditions. The company develops, manufactures and markets polymers and polyolefin technologies used in applications such as transportation, food safety, clean water and healthcare, while also discussing circular and low-carbon initiatives.
Recurring updates cover operating rates, production optimization, cost reduction, capital-spending discipline, portfolio and site-footprint actions, dividend policy, annual shareholder meeting materials, investor presentations and leadership changes in investor relations. News also addresses how industry cost curves, cost-advantaged production and pricing conditions affect the company's financial results.
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.
LyondellBasell (NYSE: LYB) has announced the startup of the world's largest propylene oxide (PO) and tertiary butyl alcohol (TBA) unit in Texas, with a capacity of 470,000 metric tons of PO and 1 million metric tons of TBA annually. This facility is part of a multi-billion dollar investment strategy along the U.S. Gulf Coast and is estimated to generate over $450 million in tax benefits over a decade. The plant emphasizes energy efficiency and sustainability, positioning LyondellBasell to meet increasing global demand for essential products used in various applications, from automotive to household goods.
LyondellBasell has announced a definitive agreement to acquire Mepol Group, a manufacturer of recycled technical compounds based in Italy and Poland. The acquisition aims to enhance LyondellBasell's sustainable product portfolio, particularly in CirculenRecover solutions. The transaction aligns with LyondellBasell's commitment to advancing the circular economy and addressing plastic waste challenges. Regulatory approval and other customary conditions are required before closing, while Mepol will continue to operate independently during this period. The deal is seen as a strategic move to leverage Mepol's expertise in eco-sustainable products.
LyondellBasell has entered into five long-term solar power purchase agreements (PPAs) with Grenergy, aiming to procure renewable energy from the La Cereal solar farm, expected to become operational by the end of 2025. These agreements will generate approximately 329,000 megawatt-hours (MWh) of solar power annually, sufficient to power over 90,000 European homes. This initiative brings LyondellBasell closer to its goal of sourcing at least half of its electricity from renewable sources by 2030, achieving 70% of that target. The company's PPA portfolio is poised to cut greenhouse gas emissions by over one million tons annually.
LyondellBasell (NYSE: LYB) will host its Capital Markets Day on March 14, 2023, from 8:30 a.m. to 12:30 p.m. EDT. CEO Peter Vanacker and the Executive Committee will discuss the company's long-term strategy, business objectives, capital allocation priorities, and financial outlook. The event will be held at the New York Stock Exchange and is available via webcast. Presentation slides will be accessible during the event and recorded for later viewing. Attendees can find additional disclosures, including non-GAAP reconciliations, on the company’s website.
LyondellBasell (NYSE:LYB) and KIRKBI have committed approximately 130 million Euros to invest in APK, known for its innovative solvent-based recycling technology for low-density polyethylene (LDPE).
The investment aims to enhance the recycling of multi-layer flexible packaging, which constitutes a significant portion of plastic waste. With this partnership, both LyondellBasell and KIRKBI will gain minority stakes in APK, facilitating the construction of more Newcycling plants that will increase production capacity. This move supports broader sustainability objectives and addresses the demand for high-quality recycled materials, contributing to a circular economy.
LyondellBasell (NYSE: LYB) has declared a dividend of $1.19 per share, scheduled for payment on March 13, 2023. This dividend will be issued to shareholders of record on March 6, 2023, with an ex-dividend date set for March 3, 2023. The company aims to enhance its leadership in the global chemical industry by focusing on safe operations and innovation in sustainable solutions across various markets. LyondellBasell is committed to advancing sustainability, particularly in addressing plastic waste and reducing greenhouse gas emissions.