LyondellBasell Propylene Oxide Results

Intermediates & Derivatives (I&D) – Our I&D segment produces and markets propylene oxide (PO) and its derivatives, oxyfuels and related products and intermediate chemicals, such as styrene monomer, acetyls, ethylene oxide and ethylene glycol.

Three months ended March 31, 2018 versus three months ended December 31, 2017 – EBITDA increased $76 million versus the fourth quarter 2017.  Fourth quarter 2017 results included a LIFO inventory charge of $17 million.  Compared to the prior period, PO and derivatives results were relatively unchanged.  In intermediate chemicals, an improvement of approximately $30 million was driven by higher styrene margins partially offset by lower methanol volume.  Oxyfuels and related products results improved approximately $20 million primarily due to higher margins.

Three months ended March 31, 2018 versus three months ended March 31, 2017 – EBITDA increased $147 million versus the first quarter 2017.  Results for first quarter 2017 included charges of approximately $40 million related to precious metal catalysts.  Compared to the prior period, PO and derivatives results improved by approximately $55 million primarily due to higher margins.  In intermediate chemicals, an improvement of approximately $15 million was driven by increased margins partially offset by reduced methanol volumes.  Oxyfuels and related products improved by approximately $40 million primarily due to higher oxyfuels margins.

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