LyondellBasell Propylene Oxide Results for Q2
Intermediates & Derivatives (I&D)– Our I&D segment produces and markets Propylene Oxide & Derivatives, Oxyfuels & Related Products and Intermediate Chemicals, such as styrene monomer, acetyls, ethylene oxide and ethylene glycol.
Three months ended June 30, 2020 versus three months ended March 31, 2020 – EBITDA decreased $160 million versus the first quarter 2020, excluding a favorable variance of $58 million due to LCM inventory charges. Second quarter 2020 Propylene Oxide & Derivatives results decreased about $55 million due to lower volumes driven by reduced demand from automotive, construction and furniture end markets. Intermediate Chemicals results were relatively unchanged. Oxyfuels & Related Products results decreased approximately $95 million with oxyfuels margins compressed by lower gasoline prices and volume declines due to lower demand for automotive fuels and isobutylene.
Three months ended June 30, 2020 versus three months ended June 30, 2019 – EBITDA decreased $327 million versus the second quarter 2019, excluding an unfavorable variance of $20 million due to second quarter 2020 LCM inventory charges. Compared with the prior period, Propylene Oxide & Derivatives results decreased approximately $40 million driven by lower volumes due to reduced demand and lower margins. Intermediate Chemicals results decreased $130 million. Margin declined, primarily in styrene, and volumes were lower due to planned maintenance and reduced demand. Oxyfuels & Related Products results decreased about $145 million driven by lower margins due to lower gasoline prices. Volume declines due to reduced demand were muted by impacts from a third party terminal incident that reduced volumes during the first half of 2019.« Previous Post Next Post »