LyondellBasell has benefited from high oil and low gas prices, but we think record profits are over.
LyondellBasell reported adjusted EBITDA of $6.6 billion for 2016, down 18% from the prior year. Declines in Americas olefins and polyolefins, intermediates and derivatives, and refining more than offset slight gains in Europe, Asia, and international olefins and polyolefins. While we believe investments and maintenance position the company better for the coming years, LyondellBasell continues to face headwinds of sustained lower ethylene margins versus its prior peak years. We do not plan to mak...LyondellBasell Industries is a chemical company. Co.'s chemicals businesses consist of processing plants that convert liquid and gaseous hydrocarbon feedstocks into plastic resins and other chemicals, and used by its customers to manufacture a range of products including food packaging, home furnishings, automotive components, paints and coatings. Co.'s refining business consists of its Houston refinery, which processes crude oil into products such as gasoline, diesel and jet fuel. Co. manages its operations through five operating segments: Olefins and Polyolefins - Americas; Olefins and Polyolefins - Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology.
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