July 28th, 2015

LyondellBasell Reports Record Quarter

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), ethanol, oxyfuels, and ethylene oxide and its derivatives.  

Three months ended June 30, 2015 versus three months ended March 31, 2015 – EBITDA increased by $102 million versus the first quarter 2015, excluding a $27 million quarter to quarter variance as a result of the LCM inventory adjustments.  Propylene oxide and derivative results decreased by approximately $20 million primarily due to lower volumes.  The first quarter benefitted from industry outages and seasonally strong aircraft deicer demand.  Intermediate chemical results increased by $55 million due to strength in styrene margins and higher methanol volume following first quarter maintenance at the Channelview plant.  Oxyfuels results improved by approximately $65 million due to higher seasonal margins and volume.  Equity income decreased by $2 million.

Three months ended June 30, 2015 versus three months ended June 30, 2014 – EBITDA increased by $53 million versus the second quarter 2014, excluding a $17 million quarter to quarter variance as a result of the LCM inventory adjustment.  Propylene oxide and derivative results were relatively unchanged.  Intermediate chemical results improved by approximately $45 million primarily from the strength in styrene margins.  Oxyfuels results were relatively unchanged.  Equity income increased by $4 million.

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