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Production from LyondellBasell’s Corpus not fully realized until late 2Q
HOUSTON, February 3, 2017 (PCW) – LyondellBasell does not expect to realize “the majority of benefits” of its 800 million lbs/yr expansion at the 1.7 billion lbs/yr Corpus Christi olefins plant.
CEO Bob Patel noted that an “operational issue” discovered last July was the reason for the delay. The company could see a “small share of benefits” from the expansion in terms of volumes in the first quarter.
Speaking during an earnings call with analysts, Patel said repairs at the plant are still ongoing and would take “a couple of months.”
He added the cracker would soon resume production at its pre-expansion rates and then “in 2Q, fully ramp up on that expansion.”
The plant began an extensive turnaround last April that was expected to end last August, which was then delayed until October. It returned to service in December.
LyondellBasell noted it would not have any cracker turnarounds in 2017. Patel said that would be some maintenance at a C4 co-product unit at the Channelview facility in 1Q, which would impact earnings by $40 million. -- Samantha Hartke