New From PetroChem Wire . . . .
NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.
For more information, click here.
For all of our products and services,
LyondellBasell says Channelview cracker outage to occur 1Q-2Q
HOUSTON, February 2, 2018 (PCW) –- LyondellBasell on Friday said a turnaround at one of its Channelview olefins units will occur between the first and second quarters, resulting in an earnings impact of $100 million, half of which will be felt in 1Q.
The Channelview facility has two olefins units with a total ethylene production capacity of 4.2 billion lbs/yr.
The company announced it would be spending about $2.4 billion for capital projects this year, the bulk of which would be spend on its new propylene oxide/tertiary butyl alcohol plant at Channelview. Going forward, the company expects to spend $3 billion every year through 2022. LyondellBasell announced it was moving forward with a debottleneck at the Channelview cracker in 2020 with a potential second debottleneck occurring in 2024.
Along the propylene value chain, the company said preliminary engineering and analysis was occurring for a possible 1.1 billion lbs/yr polypropylene unit in North America in the 2022-23 period and a 1.6 billion lbs/yr PDH unit, also in the same time frame.
LyondellBasell on Friday reported 4Q net income of $1.894 billion, up from $763 million in the year-ago period. The increase was attributed to an $819 million one-time, non-cash benefit from US tax reform.
The Americas olefins and polyolefins segment reported 4Q EBITDA of $784 million, compared to $563 million in 4Q 2016. The increase was due to a margin improvement of about 5 cpp cents per pound due to higher ethylene prices, higher co-product contribution and lower feedstock costs. -- Samantha Hartke