Premium Industrial NewsLyondellBasell: Maintenance Can Wait--Chemical Supply is Tight, Demand is Skyrocketing
LyondellBasell: Maintenance Can Wait--Chemical Supply is Tight, Demand is Skyrocketing
Industry Segment: Chemical Processing | Word Count: 844 Words
SUGAR LAND--May 4, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Persistently high demand, coupled with low inventories, has been driving higher margins for LyondellBasell Industries NV (NYSE:LYB) (Houston, Texas) so far this year. But the chemical producer and petroleum refiner is warning customers that the North American chemicals market will remain tight through the end of the year, as demand is rapidly outpacing supply--a problem that is only likely to worsen in the second half of the year. The company is delaying most major second-quarter maintenance projects as its competitors tackle turnarounds deferred from 2020. Industrial Info is tracking $6.4 billion in active projects worldwide from LyondellBasell, including $4.8 billion worth in the U.S.
Within this article: Details on LyondellBasell's outlook for the near term, along with details on some of the company's highest-valued active projects, including chemical unit expansions and refinery additions in Texas.
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