Lyondellbasell Industries N V Stock Price, News & Analysis

LyondellBasell and Shakti Plastic Industries have signed a Memorandum of Understanding to establish a joint venture for a fully-automated mechanical recycling plant in India. This facility will process post-consumer waste, producing 50,000 tonnes of recycled polyethylene and polypropylene annually, equivalent to the waste generated by 12.5 million citizens. The plant, expected to be operational by late 2024, aims to enhance LyondellBasell's Circulen Recover range, addressing the rising demand for recycled materials in India.

Air Liquide, Chevron (CVX), LyondellBasell (LYB), and Uniper have announced a collaborative study to evaluate the development of a hydrogen and ammonia production facility along the U.S. Gulf Coast. This project aims to support decarbonization efforts and increase clean ammonia exports. The consortium intends to utilize each participant's expertise in various technologies, focusing on producing hydrogen through natural gas with carbon capture and renewable hydrogen via electrolysis. The development could leverage existing Gulf Coast infrastructure for lower carbon energy supplies.

LyondellBasell (LYB) will announce its Q3 2022 financial results before the U.S. market opens on October 28, 2022. A webcast and teleconference will follow at 11:00 a.m. EDT to discuss these results, hosted by David Kinney, Head of Investor Relations. Interested parties can access the webcast 10 to 15 minutes prior at www.lyondellbasell.com/earnings. A replay will be available after the call until November 29, 2022. LyondellBasell is committed to advancing sustainable solutions in the chemical industry.

LyondellBasell and 23 Oaks Investments have established a joint venture, Source One Plastics, to create a state-of-the-art plastic waste sorting and recycling facility in Germany. This facility aims to process plastic packaging waste generated by 1.3 million citizens annually, converting hard-to-recycle plastics into feedstock for new materials using advanced MoReTec technology. The initiative aligns with LyondellBasell's sustainability goals to produce 2 million tonnes of recycled polymers by 2030, supporting a circular economy.

LyondellBasell has begun operations at a new catalyst production plant in Frankfurt, Germany. This expansion aligns with investments in infrastructure and rising demand for high-performance polyethylene (PE) resins, particularly in emerging markets. The new facility will enhance the supply of Ziegler Avant Z catalysts for global customers. With over 60 years of experience and multiple production sites, LyondellBasell is committed to addressing the increased demand for catalysts essential for safely transporting water and storing food.

LyondellBasell (NYSE: LYB) announced that its ethylene cracker in Berre, France, will remain offline until early 2023 due to a fire on August 2. Although repairs are expected to be completed by November, the company cited high energy costs, declining margins, and reduced demand for products in the region as reasons for the delay. This decision may impact the company's production capabilities and financial performance in the near term.

LyondellBasell (NYSE: LYB) announced organizational changes effective October 1, 2022, aimed at enhancing asset value and focusing on circular and low-carbon solutions. New executives include Kimberly Foley and Kenneth Lane, overseeing refining and olefins respectively. The restructured organization will centralize global manufacturing operations, with results from the Circular and Low Carbon Solutions reported within the Olefins and Polyolefins segment. CEO Peter Vanacker emphasized a commitment to operational excellence and sustainability to meet market demands.

LyondellBasell (NYSE: LYB) has been included in the FTSE4Good Index Series, recognizing its strong Environmental, Social, and Governance (ESG) practices. The FTSE4Good Index, created by FTSE Russell, assesses companies' performance in various areas like Corporate Governance, Health & Safety, and Climate Change. CEO Peter Vanacker emphasized that this recognition reflects the company's commitment to sustainability, although he noted that further improvements are necessary. LyondellBasell aims to enhance its sustainability initiatives to benefit future generations.

LyondellBasell (NYSE: LYB) announced that Kenneth Lane, Executive Vice President of Global Olefins & Polyolefins, will participate in a virtual fireside chat at the Credit Suisse 35th Annual Specialties & Basics Conference on September 14, 2022, at 12:30 p.m. ET. A live webcast will be accessible at LyondellBasell's investor events page, with a replay available within 24 hours. The company emphasizes its commitment to sustainability, diversity, and addressing global challenges such as plastic waste and decarbonization, reinforcing its reputation as an industry leader.