Lyondellbasell Industries N V Stock Price, News & Analysis

LyondellBasell (NYSE: LYB) will announce its fourth-quarter 2022 financial results on February 3, 2023, before the U.S. market opens. A teleconference discussing the results will take place at 11:00 a.m. ET. Investors can access the webcast through the company’s earnings page. A replay of the call will be available from 1:00 p.m. ET on the same day until March 3, 2023. LyondellBasell has been recognized as one of FORTUNE Magazine's "World's Most Admired Companies" for five consecutive years, underscoring its leadership and commitment to sustainable practices.

LyondellBasell is launching a new Circular and Low Carbon Solutions business unit, aimed at addressing plastic waste through innovative technologies. The company plans to build a commercial-scale advanced recycling plant in Wesseling, Germany, using its proprietary MoReTec technology to convert mixed plastic waste into feedstock for new plastic production. By 2030, LyondellBasell aims to produce two million metric tons of recycled polymers annually. Key initiatives include global recycling expansions, partnerships for waste sorting and mechanical recycling, and collaborations to recycle automotive plastics. These efforts position LyondellBasell as a leader in sustainable solutions.

LyondellBasell has appointed Trisha Conley as the new Executive Vice President of People and Culture, effective February 1, 2023. Conley will join the Executive Committee and lead initiatives to enhance employee experience and company culture. CEO Peter Vanacker emphasized the importance of a strong corporate culture for operational performance. Conley, who has over 25 years of experience in the oil and gas industry, previously served as Senior Vice President at Chevron Renewable Energy Group and VP of Human Resources at BP. LyondellBasell focuses on diversity, equity, and sustainability in its operations.

LyondellBasell (NYSE: LYB) announced an increase in its 2030 greenhouse gas (GHG) emissions reduction target for scope 1 and 2 from 30% to 42%, compared to a 2020 baseline. The company also set a scope 3 target of 30% reduction. Capital expenditures for these initiatives will be integrated into the long-range plan without altering the capital allocation strategy. Planned reductions, including the closure of the Houston refinery by December 2023, are expected to lower GHG emissions by over 3 million metric tons annually. The company aims to source 75% of its global electricity from low carbon power by 2030.

LyondellBasell (NYSE: LYB) announced that Michael McMurray, Executive Vice President and CFO, will participate in a fireside chat at the 2022 Citi Basic Materials Conference on November 29, 2022, at 11 a.m. ET. A live webcast will be available for access during the event, and a replay can be found on their website within 24 hours afterward. LyondellBasell is committed to advancing sustainable solutions in over 100 international markets, focusing on diversity, equity, and inclusion, as well as addressing plastic waste and climate challenges.

LyondellBasell announces plans to build an advanced recycling plant in Wesseling, Germany, using its proprietary MoReTec technology to convert pre-treated plastic waste into feedstock for new plastic. The final investment decision is expected by the end of 2023. The plant will have a capacity of 50,000 tonnes annually, with operations aimed to start by the end of 2025. This initiative is part of a joint venture with Source One Plastics, focusing on recycling multi-layered food packaging and other non-recyclable plastics.

LyondellBasell (NYSE: LYB) declared a quarterly dividend of $1.19 per share, set for payment on December 5, 2022. Shareholders of record as of November 28, 2022 will be eligible, with an ex-dividend date of November 25, 2022. The company continues to emphasize sustainability and has been recognized as one of FORTUNE Magazine's "World's Most Admired Companies" for five consecutive years. This dividend showcases LyondellBasell's strong commitment to returning value to its shareholders.

LyondellBasell (NYSE: LYB) is considering a significant expansion of its propylene production capacity at its Channelview Complex in Houston, TX. The proposed project aims to build a new facility that would convert ethylene into propylene, increasing annual capacity by 950 million pounds and creating 10-15 jobs. This expansion, which could boost capacity by over 35%, is anticipated to have better economics and lower carbon emissions than competing technologies. A final investment decision is expected by late next year.

LyondellBasell (NYSE: LYB) will have CFO Michael McMurray participate in a fireside chat at the Morgan Stanley Global Chemicals, Agriculture and Packaging Conference on November 9, 2022, at 8 a.m. ET. This event will be accessible via a live webcast, with a replay available within 24 hours. LyondellBasell is recognized for its commitment to sustainability and diverse market solutions, being named one of FORTUNE's "World's Most Admired Companies" for five consecutive years. The company focuses on addressing plastic waste and decarbonization in over 100 international markets.