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LyondellBasell
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Latest analysis
Updated Oct 30, 2026
LyondellBasell posts 18% EBITDA margins in Q3 2026 with record I&D performance; sells Houston refinery site to Valero for $320.5M as portfolio simplification accelerates.
LyondellBasell delivered $1.5 billion EBITDA in Q3 2026 — up over 80% year-on-year — driven by a record $795 million in Intermediates and Derivatives on exceptional oxyfuels margins and the Bayport PO/TBA restart, which more than offset sequential weakness in O&P polymer margins. The $320.5 million all-cash sale of the Houston refinery site to Valero removes approximately $50-100 million in annual cash drag, closes the company's refining chapter, and redirects capital to core O&P and I&D assets. Management is unambiguous that market normalization will take quarters, not months, and that North American structural feedstock advantage and lean downstream inventories support continued pricing momentum into Q4.
Tone: cautiousRevenue
$30.2B
LYB 10-K · FY 2025
Revenue FY2024
$40.3B
Headquarters
Houston, TX
Profile
LYB 10-K Item 1 · Feb 20, 2026LyondellBasell Industries N.V. is a multinational chemical company operating across olefins, polyolefins, intermediates and derivatives, advanced polymer solutions, and technology licensing segments. The company manufactures and markets a broad range of chemicals and polymers used in packaging, automotive, construction, and other industrial applications. It also licenses polyolefin process technology to third parties.
Read filing description ↓ Collapse description ↑
LyondellBasell Industries N.V. is one of the largest plastics, chemicals and refining companies in the world. Its operations span the Olefins and Polyolefins-Americas, Olefins and Polyolefins-Europe Asia International, Intermediates and Derivatives, Advanced Polymer Solutions, and Technology segments. The company produces and markets olefins, polyolefins, oxyfuels and related products, and advanced polymer compounds globally. A portion of its business involves licensing polyolefin process technology to third-party producers. In February 2025, the company ceased business operations at its Houston refinery, and the refining segment is reported as a discontinued operation. During 2025, the company agreed to sell certain European olefins and polyolefins assets and the associated business, with the sale expected to close in the second quarter of 2026. The company operates manufacturing facilities across North America, Europe, and internationally, and maintains equity investments in joint ventures. Petrochemical markets in 2025 faced headwinds from global trade disruptions, falling oil prices, and capacity additions that outpaced global demand growth.
Primary products
- olefins
- polyolefins
- polyethylene
- oxyfuels
- advanced polymer compounds
- polyolefin process technology licensing
Business segments
End markets
Geographies
Revenue commentary · FY 2025
Revenues decreased by $3,241 million, or 10%, in 2025 compared to 2024, driven by an 8% decrease from lower average sales prices and a 4% decrease from lower sales volumes, partially offset by a 2% favorable foreign exchange impact.
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