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LyondellBasell expanded cracker to be in service ‘latter half’ of 3Q
HOUSTON, April 22, 2016 (PCW) -– LyondellBasell’s expanded Corpus Christi cracker is expected to be completed and up and running “during the latter half of the third quarter,” CEO Bob Patel said in an earnings call with analysts on Friday.
The 1.7 billion lb/yr cracker was shut down Monday; its capacity will be expanded by 800 million lb/yr.
Patel added the turnaround would financially impact the company’s earnings by $10 million in 2Q and $40 million in 3Q.
Meanwhile, the company said its Houston refinery that was damaged by a fire at one of its coker units a few weeks ago was now running at 75% of its operating capacity. Repairs are expected to be completed by the end of the second quarter. It is expected to impact 2Q earnings by $40-70 million, Patel said. –- Samantha Hartke