LyondellBasell

Overview

LyondellBasell Industries N.V.

type	Public
traded as	nyse: LYB S&P 500 component
isin	isin: NL0009434992
predecessor	Basell Polyolefins Lyondell Chemical Company ARCO Chemical
foundation	December 2007
location city	Houston, Texas, United States and London, UK; Rotterdam, Netherlands (legal domicile)
key people	Peter Vanacker (CEO) Michael McMurray (CFO) Jeffrey Kaplan (CLO)
industry	Chemicals
products	Chemicals, Polymers
revenue	US$40.3 billion (2024)
operating income	US$1.82 billion (2024)
net income	US$1.36 billion (2024)
assets	US$35.7 billion (2024)
equity	US$12.5 billion (2024)
num employees	20,000 (2024)
homepage	https://lyondellbasell.com
footnotes	‡R1R‡‡R2R‡

LyondellBasell Industries N.V. is an American multinational chemical company, incorporated in the Netherlands with U.S. operations headquartered in Houston, Texas and offices in London, UK. The company is the largest licensor of polyethylene and polypropylene technologies.[3] It also produces ethylene, propylene, polyolefins, and oxyfuels.[4][5]

LyondellBasell was formed in December 2007 by the acquisition of Lyondell Chemical Company by Basell Polyolefins for $12.7 billion.[6] As of 2016, Lyondell was the third largest independent chemical manufacturer in the United States.[7]

History

Early history

Since its establishment in 1985 from facilities belonging to the Atlantic Richfield Company (ARCO), the company grew through stock swaps with Occidental Chemicals and Millennium Chemicals in 1997, which formed Equistar Chemicals of which each entity were partners. Lyondell purchased the outstanding shares from each of its partners to gain total control of Equistar which is a wholly owned subsidiary of Lyondell. Lyondell bought ARCO Chemical in 1998 for $5.6 billion including ARCO's entire 82.2% ownership stake.[9] In 2004, Lyondell purchased Millennium Chemicals in a stock-swap deal valued at $2.3 billion.[10] In August 2006, Lyondell acquired Citgo's interest in the Lyondell-Citgo Refinery for $2.1 billion, and renamed the facility Houston Refining.[11] Chemical maker Basell Polyolefins purchased Lyondell in December 2007, creating the new company LyondellBasell Industries AF S.C.A., one of the largest chemical companies in the world at that time. It was owned by Access Industries, a privately held, U.S.-based industrial group. LyondellBasell is the third largest independent chemical manufacturer in the world and is headquartered in Houston and Rotterdam.

Expansion

LyondellBasell's United States operations filed for Chapter 11 bankruptcy protection in January 2009, and emerged from bankruptcy in April 2010.[12] Its former parent company, LyondellBasell Industries AF S.C.A. was replaced by LyondellBasell Industries N.V.[13] It was listed on the New York Stock Exchange on October 14, 2010.[14]

In 2012, 1 Houston Center, the building housing LyondellBasell's Houston headquarters since 1986, was renamed LyondellBasell Tower.[15] In 2014, LyondellBasell announced that it was installing two large cracking furnaces at its Channelview plant, and the following year the company announced it would double production capacity at the Bayport Underwood plant.[16] LyondellBasell acquired the compounding assets of Zylog Plastalloys, an India-based company, in November 2015.[17]

Houston refinery shutdown

In April 2022, LyondellBasell announced plans to shutter its Houston refinery by the end of 2023, following two failed attempts to sell it.[36] These plans were later pushed back to Q1 2025 due to a period of strong refining margins.[37]

LyondellBasell

History

Early history

Expansion

Houston refinery shutdown

Philanthropy

Awards and recognition

Environmental issues

Manufacturing facilities

External links

References