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.
|Table 4 – I&D Financial Overview|
|Three Months Ended|
|March 31,||December 31,||March 31,|
|Millions of U.S. dollars||2018||2017||2017|
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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