Plastics Reclamation Plant Liquidation
Sortation, Grinding, Washing and Starlinger Equipment For Sale
Equipment sold individually
Bids accepted first come, first served basis.
Subject to prior sale.
All offers due by Nov. 7
Click here for pictures and detailed equipment list
Contact David for additional information at 1-630-235-8171
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LyondellBasell’s 3Q net income 19.6% lower on olefins ops maintenance
HOUSTON, November 1, 2016 (PCW) – LyondellBasell on Tuesday reported third-quarter net income of $953 million, down 19.6% from the $1.186 billion in 3Q 2015, with the decrease largely attributed to a heavy planned maintenance schedule in North America.
EBITDA for the company’s Americas olefins and polyolefins segment was $682 million in the third quarter, compared to $841 million in 3Q 2015. Underlying olefin results increased about $15 million, as ethylene prices rose some 4 cpp. Combined polyolefin results declined by $70 million as PE spreads decreased by about 4 cpp. Polypropylene spreads declined by 9 cpp.
During the quarter, the firm’s 1.21 billion lbs/yr Morris plant in Illinois went down for a planned turnaround. Still down is its 1.7 billion lbs/yr Corpus Christi olefins plant, which is also undergoing a planned expansion of some 600 million lbs/yr. The unit is expected to return to service this month.
The European, Asian and International segment saw 3Q EBITDA of $584 million, up from $549 million in 3Q 2015. The third quarter benefited $11 million from the restructuring of Asian polypropylene joint ventures and the sale of Australian polypropylene assets. Olefin results increased about $95 million as margins increased by around 7 cpp, LyondellBasell said.
The intermediates and derivatives group saw 3Q EBITDA of $304 million, down from $460 million in the year-ago period. Results for propylene oxide and its derivatives declined by about $15 million due to declining margins. Intermediate chemicals results fell by about $60 million, due to a styrene margin decline of some 3 cpp.
The refining group fell to a $10 million loss for 3Q EBITDA, compared to $93 million seen in the year-ago period. The company attributed the losses to lower operating rates of 209,000 b/d due to operational disruptions, as well as the lower weaker Maya 2-1-1 industry crack spread.
During the quarter, the company’s 280,400 b/d Houston refinery saw several outages due to chemicals release and power disruptions. LyondellBasell has put the refinery up for sale. -- Samantha Hartke