The Global Impact Coalition (GIC), a CEO-led collaborative platform originally incubated at the World Economic Forum, launches the world’s first Automotive Plastics Circularity pilot together with seven global leaders in the chemical and recycling industries.
The path to a sustainable, net-zero future for the chemical industry is paved with challenges – and also opportunities.
The path to a sustainable, net-zero future for the chemical industry is paved with challenges – and also opportunities.
LyondellBasell (LYB) has completed its acquisition of APK in Merseburg, Germany. The company will be fully integrated and continue as part of LYB. The deal was first announced in August of this year.
In a move to grow and upgrade its circular and low carbon solutions business, chemical producer LyondellBasell is to acquire full ownership of plastic recycler APK in Merseburg, Germany. Closing of the transaction is subject to customary closing conditions. Financial details of the deal have not been disclosed.
In this interview, Charlie Tan, CEO of the Global Impact Coalition (GIC), explains the initiative’s scope and describes some key activities.
LyondellBasell (LYB) has completed the acquisition of a 35% interest in Saudi Arabia-based National Petrochemical Industrial Company (Natpet) from Alujain. The transaction was announced in January of this year.
Ineos Oxide and LyondellBasell have completed the sale of LyondellBasell’s Ethylene Oxide & Derivatives (EO&D) business and associated production facilities located in Bayport, Texas to Ineos.
Last week, LyondellBasell and Genox Recycling have opened their plastics recycling joint venture (JV) in Zhaoqing, Guangdong Province, China, which will operate under the name Guangdong Genox LyondellBasell New Material Co.
Olefins and polyolefins giant LyondellBasell (LYB) has acquired mechanical recycling assets containing rigid plastics recycling processing lines in the US from PreZero, a recycling and waste management service provider. The transaction, LYB said, includes the lease of the processing facility in Jurupa Valley, California, with a production capacity of approx. 23 million kg/year for recycled materials.
LyondellBasell (LYB) has agreed to acquire a 35% stake in Saudi Arabia-based National Petrochemical Industrial Company (Natpet) from Alujain for approximately $500 million. Closing of the transaction is subject to regulatory and other customary closing conditions.
LyondellBasell has acquired a 25% stake in Cyclyx International, a joint venture between Agilyx and ExxonMobil formed in December 2020. Cyclyx is working with industry participants to develop innovative recycling solutions for all types of post-use plastics and aims at increasing the recyclability of plastics from 10% to 90%.
LyondellBasell acquired its 50% share from De Paauw Sustainable Resources (DPSR) CEO Roy de Paauw and ING Corporate Investments. DPSR is a plastics waste recycling company based out of the Netherlands.
LyondellBasell plans to permanently close one of its two polypropylene (PP) plants at Brindisi, Italy, due to increasingly difficult market conditions and a poor outlook. The company has not disclosed which plant is affected, nor has it provided a timeline for the planned closure.
LyondellBasell, a global leader in polymer and polyolefin technologies, has successfully acquired Mepol Group, a manufacturer of high-performing recycled compounds based in Italy and Poland.
LyondellBasell, Technip Energies and Chevron Phillips Chemical (CPChem) have signed a memorandum of understanding (MOU) to design, build and operate a demonstration unit using Technip’s electric steam cracking furnace technology.
LyondellBasell plans to keep its oil refining business in operation longer than planned. Rather than pull the plug at the end of 2023 as announced earlier, the olefins and polyolefins giant said this week it would delay its exit until the end of the 2025 first quarter.
LyondellBasell said it plans to acquire Veolia Belgium‘s stake in the joint venture Quality Circular Polymers (QCP), which has recycling facilities in Belgium and the Netherlands. Currently, the Paris-headquartered waste management group supplies soiled plastic waste to the recycling units, a role it will continue on an independent basis.
Chemical producer LyondellBasell has signed five 15-year solar power purchase agreements (PPAs) with Spanish renewable energy producer Grenergy. The purchases cover the supply of energy from the La Cereal solar farm project in Spain, which is expected to be operational at the end of 2025.
LyondellBasell has entered into a definitive agreement to acquire Mepol Group, a manufacturer of recycled, high-performing engineering compounds based in Italy and Poland.
ExxonMobil has started up what it says is one of the largest advanced recycling facilities in North America at its integrated manufacturing complex in Baytown, Texas, where the company uses proprietary Exxtend technology to break down hard-to-recycle plastics and process them into chemical feedstock.
LyondellBasell (LYB) said it is moving ahead with engineering for a commercial scale advanced plastics waste recycling plant it intends to build at its Wesseling, Germany, production site together with Germany’s 23 Oaks Investments.
LyondellBasell is evaluating an expansion of propylene production at its Channelview complex on the US Gulf coast, widening output by 400,000 t/y. A final decision is expected at the end of 2023. The expansion would lift output by more than 35% and create some 10-15 new jobs.
LyondellBasell has won contracts for two PP projects, one in China and the other in Vietnam. The value of the contracts was not disclosed.
ExxonMobil, LyondellBasell and Cyclyx International have agreed to jointly establish a plastic waste sorting and processing facility in Houston, Texas, USA, providing feedstock for both mechanical and advanced recycling technologies.
LyondellBasell has won two separate contracts to supply its Lupotech T high-pressure technology for new PE plants.
LyondellBasell (LYB) has pledged to cover at least 50% of its energy needs from renewable sources by 2030.
A collaboration between Neste, Covestro and SK Geo Centric aims to use renewable raw materials to produce MDI – a key feedstock for polyurethane production.
Olefins and polyolefins giant LyondellBasell (LYB) has become the latest multinational chemical company to announce plans to pull out of Russia partly or altogether. The Rotterdam-registered, Houston-managed company said this week it has decided “to cease operations” at two office locations in in the country. Its offices in Moscow and Togliatti have now begun winding down activities.
LyondellBasell has won contracts to provide its Lupotech PE technology to two separate Chinese companies. The value of the contracts was not disclosed.
LyondellBasell (LYB) is finally calling it quits on the refinery business and has announced plans to close its Houston facility “no later than December 31, 2023.” The plant in the Houston Ship Channel has a rated capacity to transform 268,000 barrels per day of crude oil into transportation fuels and other products including lubricants, chemical intermediates and petroleum coke.
Peter Vannacker will step into his new role as CEO of LyondellBasell (LYB) on May 23. The company's Board of Directors appointed the 55-year-old German-Belgian dual national to the position in December 2021.
Peter Vanacker, currently president and CEO of Finnish refiner Neste, has been tapped to be the new CEO of LyondellBasell (LYB) starting at the latest in June 2022. He will succeed Bhavesh (Bob) Patel, who is leaving the company at the end of 2021 to become chief executive of W. R. Grace from January 2022. Vanacker will also sit on LYB’s board.
LyondellBasell has won two separate contracts from Chinese companies to license its PE and PP technology. In the first, Lianyungang Petrochemical, owned by Zhejiang Satellite, has chosen the company’s Hostalen Advanced Cascade Process (ACP) for a second 400,000 t/y HDPE plant to be built at Lianyungang, Jiangsu province.
In a sign that the administration of US president Joe Biden will be tougher on environmental offenses than that of former president Donald Trump, three companies belonging to petrochemicals producer LyondellBasell have received fines for improper operation, maintenance and monitoring of flares that the Environmental Protection Agency (EPA) said used too much steam.
