LyondellBasell Posts Record 2014

Here's segment info on propylene oxide:

Intermediates and Derivatives (I&D) – The primary products of this segment include propylene oxide (PO) and its co-products (styrene monomer, tertiary butyl alcohol (TBA), isobutylene and tertiary butyl hydroperoxide), and derivatives (propylene glycol, propylene glycol ethers and butanediol); acetyls (including methanol), ethylene oxide and its derivatives, and oxyfuels.   

Three months ended December 31, 2014 versus three months ended September 30, 2014 – EBITDA decreased $19 million versus the third quarter 2014, excluding a $93 million LCM inventory adjustment. Results for PO and PO derivatives decreased approximately $20 million from strong third quarter results. Compared to the prior quarter, intermediate chemicals results increased by approximately $10 million as improved styrene margins from declining benzene were partially offset by lower C4 chemical sales volume due to maintenance at our Bayport site.  Oxyfuels results decreased approximately $10 million due to declining gasoline prices and typical seasonal declines.  Equity income from joint ventures was relatively unchanged.

Three months ended December 31, 2014 versus three months ended December 31, 2013 – EBITDA increased $10 million versus the fourth quarter 2013, excluding a $93 million LCM inventory adjustment. Fourth quarter 2013 results include $26 million of charges related to our exit from the NOC joint venture, including $10 million that impacted our equity income.  Results for PO and PO derivatives increased approximately $10 million as higher margins and PO sales volumes were partially offset by lower derivative volume.  Intermediate chemicals results decreased by approximately $45 million driven by lower styrene margins and lower ethylene glycol results due to unscheduled maintenance, partially offset by improved acetyls results with the additional capacity from Channelview methanol in 2014.  Oxyfuels increased approximately $25 million primarily as a result of higher octane premium in 2014. Equity income from joint ventures increased by $10 million.

Full year ended December 31, 2014 versus full year ended December 31, 2013 – EBITDA increased $60 million versus 2013, excluding a $93 million LCM inventory adjustment. Results in 2013 included charges of $26 million related to our exit from the NOC joint venture, including $10 million that impacted our equity income. PO and PO derivatives results increased by approximately $65 million as both volume and margin increased.  Intermediate chemicals results increased by approximately $10 million as higher methanol volume was mostly offset by lower styrene, C4 chemicals, and ethylene glycol results.  Oxyfuels results declined by approximately $30 million compared to the prior year due to lower volume.  Equity income from joint ventures increased by $3 million from 2013.

http://lyondellbasell.mediaroom.com/index.php?s=43&item=1063