LYB · 8-K · 20261030PR000067

Margin Drivers

LyondellBasell Industries N.V. · 2026-10-30 · Importance 51 · Surprise 64

O&P–Americas profitability declined compared with the second quarter as polymer and olefin prices fell, although integrated polyethylene industry margins ended the quarter approximately 50% above 2025 levels. O&P–Europe, Asia and International margins were pressured by falling polymer prices. I&D profitability rose materially, primarily because higher crack spreads and favorable gasoline-blend economics significantly expanded oxyfuels margins in Europe and the United States. LYB increased utilization of its Channelview PO/TBA asset to approximately 110%, while Bayport PO/TBA operated at full rates after its June restart.

Key facts

• The industry's integrated polyethylene margins ended the third quarter of 2026 approximately 50% above 2025 levels, supported by positive polyethylene price momentum in September. source
• LYB increased utilization of the Channelview PO/TBA asset to approximately 110% through its Value Enhancement Program. source
• The company completed the planned Clinton turnaround on time and under budget. source
• Profitability fell sequentially in O&P – Americas during the third quarter, driven by lower prices for polymers and olefin products. source
• In O&P – Europe, Asia and International, falling polymer prices pressured margins during the third quarter of 2026. source
• Intermediates and Derivatives delivered materially higher quarterly profitability, largely driven by oxyfuels. source
• Global supply disruptions raised crack spreads, while favorable gasoline blend economics boosted octane values and significantly expanded Europe and U.S. oxyfuel margins. source
• Acetyls benefited from improved reliability at LaPorte in the third quarter of 2026. source