The table below provides a comparison to the previous quarter and the second quarter of 2021:

“With a diversified portfolio, strong cash generation and disciplined capital allocation, LyondellBasell has been recognized as one of the best-run companies in our industry. After my first two months as CEO of LyondellBasell, I believe Our team is full of passion and the dedication needed to develop these capabilities. Our aim is to build on our strong position, our scale and our reach, to establish LyondellBasell as a place to meet the world’s growing demand for circular and sustainable materials A leader in growing demand while reducing our carbon footprint. I look forward to sharing LyondellBasell CEO Peter
“We plan to advance our strategy and unlock additional value in the coming months,” Vanacker said.

“Particularly in the second quarter, LyondellBasell’s global portfolio delivered strong earnings and cash generation driven by record performance and excellent refining margins in our Intermediates and Derivatives segment. In addition, LyondellBasell is moving towards Real progress on our goal of helping to solve the global challenges of climate change and plastic waste,” Vanacker said.

LyondellBasell’s broad portfolio supported 18% sequential EBITDA growth in the second quarter. The Intermediates and Derivatives segment achieved record profitability. houston
Refinery at nearly 95%
operations to support growing demand for gasoline, diesel and jet fuel. The olefins and polyolefins market reflects different regional dynamics. While North American demand for products used in consumer packaging end markets remains strong,
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As well as slowing regional demand towards the end of the quarter, the company’s sales in Europe declined. In China, the market remains weak due to zero COVID measures and logistical challenges. Results for advanced polymer solutions continue to be hampered by automotive production constraints.

LyondellBasell generated $1.6 billion in cash from operating activities during the quarter. The company remains committed to a disciplined approach to capital allocation. In the second quarter,
$532 million was reinvested in the business, $2.1 billion
Returned to shareholders through a combination of special dividends, increased quarterly dividends and modest share repurchases. Strong shareholder returns remain LyondellBasell’s capital allocation priority.

During the quarter, LyondellBasell signed several renewable energy purchase agreements that will help reduce the carbon footprint of operations. Since launching its Circulen portfolio in 2019, the company has sold more than 140,000 tons of polymer made from recycled and renewable feedstocks; representing the annual demand for polyethylene and polypropylene for Houston’s population. LyondellBasell is expanding the Circulen product line to meet the growing demand from customers and society for renewable and circular materials.

Prospects

“The strength of our business mix provided resilience in the third quarter, with continued strong demand in the packaging market and high margins on our oxyfuel and refined products. As consumer demand shifts from durable goods to services and mobility Sex, LyondellBasell’s diversified business is well-positioned to meet changing trends in global demand,” Vanacker said.

Slowing demand for raw materials and energy and rising costs could squeeze margins across most of the company’s businesses in the third quarter. Potential benefits of China’s reopening may come in 2022
Provide a tailwind to our business by the end of the year. Companies are carefully monitoring the impact of inflation, supply chain challenges and slowing economic conditions, while positioning the business appropriately.

LyondellBasell is starting commissioning activities for its largest growth investment in the third quarter. The world-class U.S. Gulf Coast propylene oxide and oxyfuel facility will provide the capacity needed to meet growing demand for polyurethane and high-octane, clean-burning oxyfuels. Polyurethane is a key material for insulation, windmill blades and light vehicles.

“We expect our new propylene oxide capacity to provide a meaningful addition to our revenue from 2023 and help contribute to a more sustainable world,” Vanacker said.