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LyondellBasell Industries N.V. (LYB)

- NYSE
  • Tue, Mar. 24, 12:47 PM
    • LyondellBasell (LYB -0.2%) says it will more than double production capacity to 50M lbs./year at its ethylene oxide and ethylene glycol plant in Pasadena, Tex.
    • LYB says the site will be one of the largest sites in the U.S. specifically geared to making tri-ethylene glycol, which is used to remove water from natural gas and is an additive in hydraulic and brake fluids.
    • Separately, LYB continues to square off with the United Steelworkers employees over premium pay issues, as workers maintain their strike despite some other union members returning to work.
    | 1 Comment
  • Wed, Mar. 18, 5:43 PM
    • Top gainers, as of 5:15 p.m.: GES +12.8%. SCVL +9.4%. NQ +8.9%. CANF +8.2%. SBLK +4.5%.
    • Top losers, as of 5:15 p.m.:ANTH -3.4%HTA -3.26%. LYB -3.1%. EMC -3.0%. WSM -2.8%.
    | 5 Comments
  • Wed, Mar. 18, 12:44 PM
    • United Steelworkers union members who have been on strike at the Motiva recovery in Port Arthur, Tex. - the largest in the U.S. - ratified a final contract last night, and workers are expected to return to their jobs next week after walking off their jobs on Feb. 21.
    • The union also says workers at three Tesoro (TSO +2.1%) refineries on the west coast have made progress in finalizing contracts, with return-to-work agreements - usually the final step before ratification votes - under discussion.
    • Union negotiators reached an industry-wide agreement to settle the strike with lead refinery rep Royal Dutch Shell (RDS.A, RDS.B) last Thursday; Shell is a co-owner of Motiva.
    • The union says BP, Lyondell Basell (NYSE:LYB) and Marathon Petroleum (NYSE:MPC) "continue fights on tough local issues."
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  • Mon, Mar. 16, 4:59 PM
    • A tentative national agreement to end the six-week U.S. refinery strike has struggled to win ratification at eight plants as workers and companies try to settle local issues, union reps say.
    • The deal reached Thursday by the United Steelworkers and lead industry negotiator Royal Dutch Shell (RDS.A, RDS.B) to end the biggest walkout of its kind in 35 years appears to be showing signs of quick passage at just four plants.
    • Workers at four plants that are owned or co-owned by Shell, which include three Motiva Enterprises refineries, have scheduled or are expected to hold votes this week to ratify the agreement and could be back at work next week, but local labor talks are stalled at other plants.
    • Other relevant tickers: TSO, BP, MPC, LYB, OTCQB:HUSKF
    | 7 Comments
  • Thu, Mar. 12, 3:59 PM
    • Negotiators for the United Steelworkers union have tentatively accepted a deal from Shell Oil (RDS.A, RDS.B) to settle the six-week-long strike that has affected refineries and chemical plants across the U.S., a USW statement says.
    • The deal still requires approval of the union’s international policy committee and the local union representing workers at Shell’s Deer Park, Tex., refinery before it goes to a vote of union members nationwide.
    • The union and Shell, which is representing the industry in the talks, had been in talks since Monday.
    • Relevant tickers: TSO, BP, MPC, LYB, OTCQB:HUSKF.
    | 4 Comments
  • Thu, Mar. 12, 2:12 PM
    • Negotiators from the United Steelworkers union and Shell Oil (RDS.A, RDS.B) are continuing to meet today, part of a four-day stretch of negotiating that is the longest the two sides have met since the strike began Feb. 1.
    • In a sign that union negotiators may see a deal coming, the Steelworkers sent a message last night to members that the union’s policy committee is traveling to Houston to be available to review any proposals that come out of the talks.
    • The dispute started initially with nine facilities but has since expanded to 15 refineries and chemical plants across the U.S., affecting TSO, BP, MPC, LYB, OTCQB:HUSKF and Shell.
    | 3 Comments
  • Thu, Mar. 12, 8:43 AM
    • Authorities hope to reopen the Houston Ship Channel today after a tanker carrying 216K barrels of gasoline additive MTBE collided Monday with a bulk carrier hauling steel, prompting the shutdown of a five-mile stretch of the channel.
    • Exxon Mobil (NYSE:XOM) says it cut production rates at its 560K bbl/day refinery in Baytown, Tex. - the second-largest refinery in the U.S. - as crude deliveries continue to be delayed by wreckage that have partially closed the Houston Ship Channel.
    • Royal Dutch Shell (RDS.A, RDS.B) says it is evaluating the closure's impact on its 327K bbl/day joint venture refinery in Deer Park; LyondellBasell (NYSE:LYB) says its 263K bbl/day plant in Houston has experienced no operational impacts.
    • Enterprise Products Partners (NYSE:EPD) suspended docking operations for ships and barges at its Oiltanking Partners unit on the ship channel, applying force majeure retroactively to the shutdown on Monday.
    | 7 Comments
  • Wed, Mar. 4, 3:28 PM
    • Even as U.S. refiners and striking union workers returned to the bargaining table today for a new round of talks, the two sides appear to be digging in for a protracted struggle that could last through the spring.
    • Royal Dutch Shell (RDS.A, RDS.B) said Monday that by midsummer its Deer Park refinery in Texas will be fully staffed with newly trained employees who are not affiliated with the United Steelworkers union, and added that ~20% of striking workers at the plant have defied the union and returned to work.
    • Workers also have begun returning to their jobs at refineries owned by Shell and Saudi Aramco JV Motiva Enterprises, and LyondellBasell (NYSE:LYB) and Tesoro (NYSE:TSO) also say a growing number of employees are coming back to work.
    • LYB said yesterday it had filed a complaint with the National Labor Relations Board alleging the union had threatened and harassed people trying to cross picket lines.
    • The union has filed its own complaints to the NLRB in recent weeks, alleging Shell, LYB, TSO, BP and Marathon Petroleum (NYSE:MPC) have engaged in unfair practices, including threatening and coercing workers and failing to bargain in good faith.
    | 7 Comments
  • Tue, Feb. 24, 7:57 AM
    • LyondellBasell (NYSE:LYB) says it has reached a separation agreement with CFO Karyn Ovelmen, who will continue on the job for up to three months while LYB looks for her successor.
    • Before working at LYB, Ovelmen was finance chief of the European petroleum refiner Petroplus Holdings, and has worked at Argus Atlantic Energy and PricewaterhouseCoopers.
    • LYB appointed a new CEO in December, and reported to steeper than expected Q4 decline in revenue marked by a big inventory adjustment charge.
    | 2 Comments
  • Mon, Feb. 23, 8:26 AM
    • The United Steelworkers union expanded its strike over the weekend to the Motiva Enterprises refinery in Port Arthur, Tex., a 50-50 joint venture between Royal Dutch Shell (RDS.A, RDS.B) and Saudi Aramco which produces more than 600K bbl/day, as well as a Shell chemical plant in Louisiana.
    • The union and Shell, the lead negotiator for the refinery companies, reportedly will meet on Wednesday for the first time since negotiations broke up on Feb. 20 without a deal.
    • The union says it is seeking protections for worker safety and fatigue; Shell is now saying the strike is all about the desire of national union leaders to replace routine maintenance contractors with union-represented workers.
    • The strike already has affected refineries and chemical plants owned by LyondellBasell (NYSE:LYB), Marathon Petroleum (NYSE:MPC), Tesoro (NYSE:TSO) and BP.
    | 9 Comments
  • Sat, Feb. 21, 7:05 AM
    • Lead negotiator Shell (RDS.A, RDS.B) says last night's face-to-face negotiations with the United Steelworkers union again failed to reach an agreement to end the 20-day-old U.S. refinery strike.
    • Workers at several refineries and chemical plants were waiting for instructions to join the 5K-plus workers at 11 plants, including nine refineries accounting for 13% of U.S. production capacity.
    • The strike has hit refineries and plants owned by Shell, BP, LyondellBasell (NYSE:LYB), Marathon Petroleum (NYSE:MPC) and Tesoro (NYSE:TSO) in California, Kentucky, Texas and Washington state; temporary replacement workers so far have kept plants running at nearly normal levels.
    • The USW is seeking a three-year, industry-wide pact that would cover 30K workers at 63 U.S. refineries that together account for two-thirds of domestic capacity.
    | 56 Comments
  • Mon, Feb. 9, 4:59 PM
    • Royal Dutch Shell (RDS.A, RDS.B) says it will resume negotiations tomorrow with the United Steelworkers union over a new labor contract for U.S. refinery workers.
    • Worker walkouts affecting 11 plants including nine refineries that account for 13% of U.S. refining capacity today stretched into their ninth day.
    • Over the weekend, walkouts widened to include BP's Whiting, Ind., refinery and its joint venture refinery with Husky Energy (OTCQB:HUSKF) in Toledo, Ohio; other facilities affected so far are owned by Tesoro (NYSE:TSO), Marathon Petroleum (NYSE:MPC) and LyondellBasell (NYSE:LYB).
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  • Sat, Feb. 7, 8:25 AM
    • BP says United Steelworkers members plan to go on strike at two of its refineries beginning at midnight tonight at its Whiting, Ind., refinery and a smaller plant it owns with Husky Energy (OTCQB:HUSKF) near Toledo, Ohio.
    • The move follows the union's rejection Thursday of a sixth contract offer from Shell (RDS.A, RDS.B), the lead negotiator in talks with the union on wages, benefits and safety issues at dozens of oil facilities across the U.S.
    • The nine plants already on strike plus the two refineries account for ~13% of U.S. refining capacity; a full strike of USW members employed at more than 200 U.S. refineries, fuel terminals, pipelines and chemical plants, would threaten to disrupt nearly two-thirds of U.S. fuel output.
    • Facilities now hit by the strike are owned by BP, Shell, Tesoro (NYSE:TSO), Marathon Petroleum (NYSE:MPC) and LyondellBasell (NYSE:LYB).
    | 50 Comments
  • Thu, Feb. 5, 7:12 PM
    • The United Steelworkers union has rejected the latest offer from U.S. refiners, continuing the strike at nine plants over wages, benefits and safety issues.
    • The nine affected sites include seven refineries that account for ~10% of U.S. fuel-making capacity, but the union’s action could be expanded if its terms aren’t met, as the United Steelworkers represent hourly workers at 65 refineries as well as dozens of other plants.
    • The plants hit by the strike are owned by Royal Dutch Shell (RDS.A, RDS.B) - the lead negotiator in talks with the union - Tesoro (NYSE:TSO), Marathon Petroleum (NYSE:MPC) and LyondellBasell (NYSE:LYB), and are located in Washington, California, Texas and Kentucky.
    | 17 Comments
  • Tue, Feb. 3, 6:24 PM
    • Tesoro (NYSE:TSO) has been hit the hardest in the strike at U.S. oil refiners, with workers walking out of three of its plants, as the United Steelworkers union targets the company, according to a Bloomberg report.
    • More than 1,400 TSO employees were called to strike, more than a third of the total workers who walked out nationally, and that's no accident: TSO won a reputation in negotiations with local union members three years ago for being an especially hard bargainer, which has put a bullseye on the company during the current negotiations.
    • The union also called for strikes at two plants owned by Shell (RDS.A, RDS.B), two refineries and a co-generation unit owned by Marathon Petroleum (NYSE:MPC), and a LyondellBasell (NYSE:LYB) refinery; modern refineries are highly automated, and plant owners say they will be able to sustain normal operations during the strike by using non-union workers.
    • Negotiations are resuming tonight between union leaders and Shell, the lead negotiator for the refineries, amid increasingly strident language.
    | 15 Comments
  • Tue, Feb. 3, 7:06 AM
    • LyondellBasell (NYSE:LYB): Q4 EPS of $2.48 beats by $0.33.
    • Revenue of $10.29B (-7.6% Y/Y) misses by $560M.
    • Press Release
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Company Description
LyondellBasell Industries NV is a plastics, chemical and refining company. The Company produces polypropylene and polypropylene compounds, propylene oxide, polyethylene, ethylene and propylene. It also provides technology licenses.