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LyondellBasell Reports Second-Quarter 2013 Results

              LyondellBasell Reports Second-Quarter 2013 Results

PR Newswire

HOUSTON and LONDON, July 26, 2013

HOUSTON and LONDON, July 26, 2013 /PRNewswire/ --

Second-Quarter 2013 Highlights

  oRecord diluted earnings per share of $1.60; $923 million income from
    continuing operations
  oEBITDA of $1,652 million; strong olefins results continue
  oIncreased interim quarterly dividend by 25% to $0.50 per share
  oRepurchased approximately 5.4 million shares during the quarter
  oCredit rating upgraded by Moody's

LyondellBasell Industries (NYSE: LYB) today announced earnings from continuing
operations for the second quarter 2013 of $1.60 diluted earnings per share or
$923 million. Second quarter 2013 EBITDA was $1,652 million. The increase was
primarily due to improved operating results in the olefins and polyolefins
segments.

Comparisons with the prior quarter and second quarter 2012 are shown below:

Table 1 - Earnings
Summary
                        Three Months Ended               Six Months Ended
Millions of U.S.        June30,   March31,   June30,  June30,  June30,
dollars (except share
data)                   2013      2013        2012      2013      2012
Sales and other         $11,103    $10,669     $11,248   $21,772   $22,982
operating revenues
Net income^(a)          927        900         768       1,827     1,367
Income from continuing  923        906         768       1,829     1,362
operations
Diluted earnings per
share (U.S. dollars):
      Net income^(b)    1.61       1.55        1.33      3.16      2.37
      Income from
      continuing        1.60       1.56        1.33      3.16      2.36
      operations
Diluted share count     578        578         577       578       576
(millions)
EBITDA^(c)(d)           1,652      1,585       1,727     3,237     2,954
(a) Includes net loss attributable to non-controlling interests and loss from
discontinued operations, net of tax. See Table 11.
(b) Includes diluted loss per share attributable to discontinued operations.
(c) See the end of this release for an explanation of the Company's use of
EBITDA and Table 9 for reconciliations of EBITDA to income from continuing
operations.
(d) Includes a $71 million lower of cost or market inventory valuation
adjustment in the second quarter and first six months of 2012.

Results also reflect the following charges and benefits:

Table 2 - Charges (Benefits) Included in Income from Continuing Operations
                                 Three Months Ended          Six Months Ended
                                 June30, March31, June30, June30, June30,
Millions of U.S. dollars (except 2013     2013      2012     2013     2012
share data)
Pretax charges (benefits):
  Charges and premiums related
  to
         repayment of debt       $ - -    $ - -     $329     $ - -    $329
  Reorganization items           - -      - -       - -      - -      (5)
  Impairments                    - -      - -       - -      - -      22
  Warrants - mark to market      - -      - -       - -      - -      10
  Insurance settlement           - -      - -       (100)    - -      (100)
  Lower of cost or market        - -      - -       71       - -      71
  inventory adjustment
Total pretax charges (benefits)  - -      - -       300      - -      327
Provision for (benefit from)
income tax related
  to these items                 - -      - -       (109)    - -      (114)
After-tax effect of net charges  $ - -    $ - -     $191     $ - -    $213
(credits)
Effect on diluted earnings per   $ 0      $ 0       ($0.33)  $ 0      ($0.36)
share

"Overall, it was a strong quarter. We achieved record quarterly earnings and
advanced our plans for the future on several fronts. The back-to-basics
strategy that we put in place three years ago continues to yield strong
results and returns for our shareholders. This was particularly evident in
both our U.S. and European olefins businesses. In both regions, our plants ran
well above average industry operating rates while also utilizing additional
advantaged natural gas liquid feedstocks," said Jim Gallogly, LyondellBasell
Chief Executive Officer.

"We continue to invest in our assets, completing turnarounds at one propylene
oxide plant in the U.S. and another in Europe and concluding the butadiene
expansion at Wesseling, Germany during the second quarter. Our well positioned
assets and strong operations enabled us to increase our dividend and initiate
a share repurchase program. During the latter part of the quarter, we
purchased almost one percent of our outstanding shares and increased our
dividend by 25 percent to 50 cents per share," Gallogly said.

OUTLOOK

"Industry conditions in the U.S. are relatively unchanged from the first half
of the year. Our integrated assets and diversified portfolio of U.S. olefins
and Intermediates and Derivatives businesses remain very profitable. In
Europe, the market continues to seek equilibrium in a slow economy, and we
have seen rising naphtha prices. Refining has been a challenging industry and
continues to evolve. We believe thatthese market conditions coupled with an
imbalance within renewable fuel requirements will continue to pressure our
near term results. Our path and strategy remain unchanged, and LyondellBasell
is well-positioned to continue generating strong results and rewarding our
shareholders," Gallogly said.

LYONDELLBASELL BUSINESS RESULTS DISCUSSION BY REPORTING SEGMENT

LyondellBasell operates in five business segments: 1) Olefins and Polyolefins
– Americas; 2) Olefins and Polyolefins – EAI; 3) Intermediates and
Derivatives; 4) Refining; and 5) Technology.

Olefins and Polyolefins - Americas (O&P-Americas)  – The primary products of
this segment include ethylene and its co-products (propylene, butadiene and
benzene), polyethylene, polypropylene and Catalloy process resins.

Table 3 - O&P–Americas Financial
Overview
                            Three Months Ended              Six Months Ended
                            June30,     March31, June30, June30, June30,
Millions of U.S. dollars    2013         2013      2012     2013     2012
Operating income            $872         $821      $700     $1,693   $1,219
EBITDA                      951          898       781      1,849    1,376

Three months ended June 30, 2013 versus three months ended March 31, 2013–
The segment achieved record EBITDA results in the second quarter of 2013.
EBITDA increased $53 million versus the first quarter 2013. Compared to the
prior period, olefins results decreased approximately $30 million primarily
due to lower margins, driven by a 2 cents per pound lower average ethylene
price and lower co-product values, which more than offset higher ethylene
sales volumes. Combined polyolefin results increased by approximately $70
million from the first quarter 2013 driven by higher margins and a 13 percent
increase in polypropylene sales volumes. Joint venture equity income increased
by $4 million.

Three months ended June30, 2013 versus three months ended June30, 2012
–EBITDA increased $170 million in the second quarter 2013 versus the second
quarter 2012. Excluding the impact of a $71 million lower of cost or market
adjustment and a $29 million insurance settlement in the second quarter 2012,
EBITDA increased $128 million. Olefins results increased approximately $95
million compared to the prior year period as a result of higher olefins
volumes. Olefins production volumes were higher compared to the second quarter
2012, which was impacted by a planned maintenance turnaround. The price of
ethylene increased by approximately 1 cent per pound compared to the prior
year period. Polyethylene results improved by approximately $10 million as
sales volumes increased 5 percent versus the prior year period. Polypropylene
results declined by approximately $30 million due to a decline in spread of 2
cents per pound. Joint venture equity income increased by $4 million.

Olefins and Polyolefins - Europe, Asia, International (O&P-EAI)  – The primary
products of this segment include ethylene and its co-products (propylene and
butadiene), polyethylene, polypropylene, global polypropylene compounds,
Catalloy process resins and polybutene-1 resins.

Table4 - O&P–EAI Financial Overview
                           Three Months Ended           Six Months Ended
                           June 30,  March 31, June 30, June 30, June 30,
Millions of U.S. dollars   2013      2013      2012     2013     2012
Operating income           $189      $93       $203     $282     $206
EBITDA                     295       225       305      520      420

Three months ended June30, 2013 versus three months ended March31, 2013 –
EBITDA increased $70 million in the second quarter 2013 versus the first
quarter 2013. Olefins results improved approximately $50 million primarily due
to olefin margins expansion related to increased liquefied petroleum gas (LPG)
feedstock cracking, naphtha price volatility, and increased production rates.
Combined polyolefin results increased by approximately $10 million, driven by
an approximately 10 percent increase in sales volumes. Polypropylene compounds
and polybutene-1 results increased by approximately $30 million as a result of
margin expansion, primarily due to lower raw materials prices and higher sales
volume. Equity income from joint ventures decreased by $23 million from the
first quarter 2013.

Three months ended June30, 2013 versus three months ended June30, 2012 –
EBITDA declined $10 million versus the second quarter 2012. Olefins results
declined by approximately $65 million, primarily as a result of lower
butadiene margins. Combined polyolefin results increased by approximately $15
million primarily as a result of a 22 percent increase in sales volumes in the
second quarter 2013. Polypropylene compounds and polybutene-1 results
increased by approximately $25 million from the prior year period as a result
of higher polypropylene compounds margins. Equity income from joint ventures
was relatively unchanged from the second quarter 2012.

Intermediates and Derivatives (I&D)  – The primary products of this segment
include propylene oxide (PO) and its co-products (styrene monomer, tertiary
butyl alcohol (TBA), isobutylene and tertiary butyl hydroperoxide), and
derivatives (propylene glycol, propylene glycol ethers and butanediol),
acetyls, ethylene oxide and its derivatives, and oxyfuels.

Table 5 - I&D Financial
Overview
                                Three Months Ended          Six Months Ended
                                June30, March31, June30, June30, June30,
Millions of U.S. dollars        2013     2013      2012     2013     2012
Operating income                $285     $323      $390     $608     $760
EBITDA                          338      373       432      711      849

Three months ended June30, 2013 versus three months ended March31, 2013 –
EBITDA decreased $35 million versus the first quarter 2013. Plant turnarounds
negatively impacted segment results by approximately $30 million. Including
turnaround impacts, results for PO and PO derivatives decreased by
approximately $50 million. Competitive pressure reduced butanediol margins
while volumes declined seasonally on lower sales into aircraft deicing.
Intermediate chemicals results were relatively unchanged as higher acetyls and
ethylene glycol volumes offset lower results in styrene and C4 chemicals.
Oxyfuels results improved by approximately $15 million due to higher second
quarter 2013 volumes. Equity income from joint ventures was relatively
unchanged.

Three months ended June30, 2013 versus three months ended June30, 2012 –
EBITDA decreased $94 million compared to the second quarter 2012. Excluding
the second quarter 2012 benefit of an $18 million insurance settlement, EBITDA
decreased $76 million. Results for PO and PO derivatives declined by
approximately $70 million primarily due to higher costs related to 2013
turnarounds and lower butanediol margins. Merchant PO volumes and margins were
relatively unchanged. Intermediate chemicals results were relatively unchanged
as higher acetyls and ethylene glycol volumes were offset by lower C4 chemical
volumes due to plant turnarounds. Oxyfuels results declined by approximately
$20 million as a result of lower margins which more than offset higher sales
volumes in the 2013 period. Equity income from joint ventures increased by $10
million from the second quarter in 2012.

Refining – The primary products of this segment include gasoline, diesel fuel,
heating oil, jet fuel, and petrochemical raw materials.

Table 6 - Refining Financial Overview
                           Three Months Ended            Six Months Ended
                           June30,   March31, June30, June30, June30,
Millions of U.S. dollars   2013       2013      2012     2013     2012
Operating income (loss)    ($16)      ($17)     $124     ($33)    $134
EBITDA                     20         20        160      40       208

Three months ended June30, 2013 versus three months ended March31, 2013 –
EBITDA was relatively unchanged versus the first quarter 2013. Our refinery
operated at 265,000 barrels per day, up 92,000 barrels per day from the prior
quarter when the refinery completed a scheduled maintenance turnaround. The
volume improvement was offset by the increased cost of renewable fuel standard
requirements and a decline in margins in the second quarter 2013. Compared to
the prior quarter, the Maya 2-1-1 benchmark crack spread declined by $2.48 per
barrel, averaging $18.49 per barrel. The cost of Renewable Identification
Numbers (RINs) to meet U.S. renewable fuel standards increased by $22 million
versus the first quarter 2013.

Three months ended June30, 2013 versus three months ended June30, 2012 –
EBITDA decreased $140 million versus the second quarter 2012. Excluding the
second quarter 2012 benefit of a $53 million insurance settlement, EBITDA
decreased by $87 million. Our refinery operated at 265,000 barrels per day,
down 2,000 barrels per day from the prior year period. Compared to the second
quarter 2012, the decline in Maya 2-1-1 benchmark spread of $4.67 per barrel
and higher natural gas cost negatively impacted results. The cost of RINs
increased by $38 million compared to the same quarter last year.

Technology – The principal products of the Technology segment include
polyolefin catalysts and production process technology licenses and related
services.

Table 7 -Technology Financial Overview
                            Three Months Ended             Six Months Ended
                            June 30,    March 31, June 30, June 30, June 30,
Millions of U.S. dollars    2013        2013      2012     2013     2012
Operating income            $39         $50       $30      $89      $68
EBITDA                      59          66        50       125      106

Three months ended June30, 2013 versus three months ended March31, 2013 –
EBITDA decreased by $7 million primarily as a result of lower licensing
revenues.

Three months ended June30, 2013 versus three months ended June30, 2012 –
EBITDA increased by $9 million led by higher catalyst and licensing revenues.

Capital spending and cash balances

Capital expenditures, including growth projects, maintenance turnarounds,
catalyst and information technology related expenditures, were $387 million in
the second quarter 2013. Our cash balance was $3.2 billion at June 30, 2013.
We repurchased 5.4 million of our outstanding ordinary shares and paid $261
million in dividends during the second quarter of 2013. In early third quarter
2013, we issued 10-year and 30-year bonds with an aggregate principal amount
of $1.5 billion for which we received proceeds of approximately $1.45 billion
after deducting underwriting discounts and offering expenses.

CONFERENCE CALL

LyondellBasell will host a conference call July 26 at 11 a.m. ET.
Participants on the call will include Chief Executive Officer Jim Gallogly,
Executive Vice President and Chief Financial Officer Karyn Ovelmen, Senior
Vice President - Strategic Planning and Transactions Sergey Vasnetsov, and
Vice President of Investor Relations Doug Pike.

The toll-free dial-in number in the U.S. is 877-950-3594. For international
numbers, go to www.lyondellbasell.com/teleconference, for a complete listing
of toll-free numbers by country. The pass code for all numbers is 1231245.

A replay of the call will be available from 2 p.m. ET July 26 until Aug. 26 at
11 p.m. ET. The replay dial-in numbers are 866-460-9739 (U.S.) and +1
203-369-1347 (international). The pass code for each is 2323.

The slides that accompany the call will be available at
http://www.lyondellbasell.com/earnings.

ABOUT LYONDELLBASELL

LyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical
and refining companies and a member of the S&P 500. LyondellBasell
(www.lyondellbasell.com) manufactures products at 58 sites in 18 countries.
LyondellBasell products and technologies are used to make items that improve
the quality of life for people around the world including packaging,
electronics, automotive parts, home furnishings, construction materials and
biofuels.

FORWARD-LOOKING STATEMENTS

The statements in this release and the related teleconference relating to
matters that are not historical facts are forward-looking statements. These
forward-looking statements are based upon assumptions of management which are
believed to be reasonable at the time made and are subject to significant
risks and uncertainties. Actual results could differ materially based on
factors including, but not limited to, the business cyclicality of the
chemical, polymers and refining industries; the availability, cost and price
volatility of raw materials and utilities, particularly the cost of oil,
natural gas, and associated natural gas liquids; competitive product and
pricing pressures; labor conditions; our ability to attract and retain key
personnel; operating interruptions (including leaks, explosions, fires,
weather-related incidents, mechanical failure, unscheduled downtime, supplier
disruptions, labor shortages, strikes, work stoppages or other labor
difficulties, transportation interruptions, spills and releases and other
environmental risks); the supply/demand balances for our and our joint
ventures' products, and the related effects of industry production capacities
and operating rates; our ability to achieve expected cost savings and other
synergies; legal and environmental proceedings; tax rulings, consequences or
proceedings; technological developments, and our ability to develop new
products and process technologies; potential governmental regulatory actions;
political unrest and terrorist acts; risks and uncertainties posed by
international operations, including foreign currency fluctuations; and our
ability to comply with debt covenants and service our debt. Additional
factors that could cause results to differ materially from those described in
the forward-looking statements can be found in the "Risk Factors" section of
our Form 10-K for the year ended December 31, 2012, which can be found at
www.lyondellbasell.com on the Investor Relations page and on the Securities
and Exchange Commission's website at www.sec.gov.

NON-GAAP MEASURES

This release makes reference to certain "non-GAAP" financial measures, such as
EBITDA, as defined in Regulation G of the U.S. Securities Exchange Act of
1934, as amended. We report our financial results in accordance with U.S.
generally accepted accounting principles, but believe that certain non-GAAP
financial measures, such as EBITDA, provide useful supplemental information to
investors regarding the underlying business trends and performance of the
company's ongoing operations and are useful for period-over-period comparisons
of such operations. These non-GAAP financial measures should be considered as
a supplement to, and not as a substitute for, or superior to, the financial
measures prepared in accordance with GAAP.

EBITDA, as presented herein, may not be comparable to a similarly titled
measure reported by other companies due to differences in the way the measure
is calculated. We calculate EBITDA as income from continuing operations plus
interest expense (net), provision for (benefit from) income taxes, and
depreciation & amortization. EBITDA should not be considered an alternative
to profit or operating profit for any period as an indicator of our
performance, or as alternative to operating cash flows as a measure of our
liquidity.

Quantitative reconciliations of EBITDA to net income, the most comparable GAAP
measure, are provided in Table 9 at the end of this release.

OTHER FINANCIAL MEASURE PRESENTATION NOTES

This release contains time sensitive information that is accurate only as of
the time hereof. Information contained in this release is unaudited and
subject to change. LyondellBasell undertakes no obligation to update the
information presented herein except to the extent required by law.

Media Contact:  David A. Harpole +1 713-309-4125
Investor Contact: Douglas J. Pike +1 713-309-7141

Table 8 - Reconciliation of Segment Information to Consolidated Financial Information
                2012                                                   2013
 (Millions of   Q1         Q2         Q3         Q4         Total      Q1         Q2         YTD
 U.S. dollars)
 Sales and
 other
 operating
 revenues:
  Olefins &
  Polyolefins - $ 3,349    $ 3,283    $ 3,217    $ 3,085    $ 12,934   $ 3,244    $ 3,251    $ 6,495
  Americas
  Olefins &
  Polyolefins -   3,898      3,575      3,448      3,600      14,521     3,800      3,708      7,508
  Europe, Asia,
  International
  Intermediates   2,485      2,285      2,637      2,251      9,658      2,282      2,217      4,499
  & Derivatives
  Refining        3,203      3,496      3,272      3,320      13,291     2,468      3,077      5,545
  Technology      119        115        124        140        498        134        132        266
  Other           (1,320)    (1,506)    (1,425)    (1,299)    (5,550)    (1,259)    (1,282)    (2,541)
    Continuing  $ 11,734   $ 11,248   $ 11,273   $ 11,097   $ 45,352   $ 10,669   $ 11,103   $ 21,772
    Operations
 Operating
 income (loss):
  Olefins &
  Polyolefins - $ 519      $ 700      $ 738      $ 693      $ 2,650    $ 821      $ 872      $ 1,693
  Americas
  Olefins &
  Polyolefins -   3          203        15         (94)       127        93         189        282
  Europe, Asia,
  International
  Intermediates   370        390        424        246        1,430      323        285        608
  & Derivatives
  Refining        10         124        114        86         334        (17)       (16)       (33)
  Technology      38         30         31         23         122        50         39         89
  Other           - -        2          6          5          13         (3)        (5)        (8)
    Continuing  $ 940      $ 1,449    $ 1,328    $ 959      $ 4,676    $ 1,267    $ 1,364    $ 2,631
    Operations
 Depreciation
 and
 amortization:
  Olefins &
  Polyolefins - $ 65       $ 71       $ 69       $ 76       $ 281      $ 75       $ 69       $ 144
  Americas
  Olefins &
  Polyolefins -   69         69         63         84         285        77         76         153
  Europe, Asia,
  International
  Intermediates   47         48         49         50         194        48         50         98
  & Derivatives
  Refining        38         37         36         37         148        36         37         73
  Technology      18         19         18         18         73         17         20         37
  Other           - -        - -        1          1          2          - -        2          2
    Continuing  $ 237      $ 244      $ 236      $ 266      $ 983      $ 253      $ 254      $ 507
    Operations
 EBITDA: ^(a)
  Olefins &
  Polyolefins - $ 595      $ 781      $ 814      $ 778      $ 2,968    $ 898      $ 951      $ 1,849
  Americas
  Olefins &
  Polyolefins -   115        305        102        26         548        225        295        520
  Europe, Asia,
  International
  Intermediates   417        432        475        297        1,621      373        338        711
  & Derivatives
  Refining        48         160        150        123        481        20         20         40
  Technology      56         50         49         42         197        66         59         125
  Other           (4)        (1)        (1)        (1)        (7)        3          (11)       (8)
    Continuing  $ 1,227    $ 1,727    $ 1,589    $ 1,265    $ 5,808    $ 1,585    $ 1,652    $ 3,237
    Operations
 Capital,
 turnarounds
 and IT
 deferred
 spending:
  Olefins &
  Polyolefins - $ 102      $ 135      $ 126      $ 105      $ 468      $ 122      $ 122      $ 244
  Americas
  Olefins &
  Polyolefins -   60         39         60         95         254        63         46         109
  Europe, Asia,
  International
  Intermediates   18         24         44         73         159        106        141        247
  & Derivatives
  Refining        38         27         24         47         136        93         67         160
  Technology      9          8          12         14         43         7          6          13
  Other           2          3          1          (1)        5          - -        5          5
    Total        229        236        267        333        1,065      391        387        778
  Deferred
  charges         (1)        (3)        (1)        - -        (5)        - -        - -        - -
  included
  above
    Continuing  $ 228      $ 233      $ 266      $ 333      $ 1,060    $ 391      $ 387      $ 778
    Operations
(a) See Table 9 for EBITDA calculation.



Table 9 - EBITDA Calculation
                 2012                                         2013
 (Millions of    Q1       Q2       Q3       Q4       Total    Q1       Q2       YTD
 U.S. dollars)
 Net income
 attributable to $ 600    $ 770    $ 846    $ 632    $ 2,848  $ 901    $ 929    $ 1,830
 the Company
 shareholders
 Net loss
 attributable to   (1)      (2)      (2)      (9)      (14)     (1)      (2)      (3)
 non-controlling
 interests
 (Income) loss
 from
 discontinued      (5)      - -      7        22       24       6        (4)      2
 operations, net
 of tax
 Income from
 continuing        594      768      851      645      2,858    906      923      1,829
 operations
   Provision for   301      306      435      285      1,327    357      410      767
   income taxes
   Depreciation
   and             237      244      236      266      983      253      254      507
   amortization
   Interest        95       409      67       69       640      69       65       134
   expense, net
 EBITDA          $ 1,227  $ 1,727  $ 1,589  $ 1,265  $ 5,808  $ 1,585  $ 1,652  $ 3,237



Table 10 - Selected Segment Operating Information
                        2012                               2013
                        Q1     Q2     Q3     Q4     Total  Q1     Q2     YTD
 Olefins and
 Polyolefins -
 Americas
  Volumes (million
  pounds)
   Ethylene produced    1,988  2,134  2,401  2,449  8,972  2,337  2,412  4,749
   Propylene produced   533    615    633    582    2,363  624    529    1,153
   Polyethylene sold    1,371  1,327  1,430  1,438  5,566  1,396  1,389  2,785
   Polypropylene sold   649    634    639    576    2,498  565    637    1,202
  Benchmark Market
  Prices
   West Texas
   Intermediate crude   103.0  93.4   92.2   88.2   94.1   94.4   94.2   94.3
   oil (USD per
   barrel)
   Light Louisiana
   Sweet ("LLS") crude  119.9  108.2  109.4  109.5  111.7  113.9  104.6  109.1
   oil (USD per
   barrel)
   Natural gas (USD     2.7    2.3    2.9    3.5    2.9    3.5    4.2    3.9
   per million BTUs)
   U.S. weighted
   average cost of      28.5   18.4   19.7   18.6   21.2   13.8   15.7   14.7
   ethylene production
   (cents/pound)
   U.S. ethylene        54.9   46.9   45.4   45.7   48.3   48.0   46.3   47.2
   (cents/pound)
   U.S. polyethylene
   [high density]       67.0   63.0   59.3   59.7   62.3   66.7   68.7   67.7
   (cents/pound)
   U.S. propylene       68.7   65.7   51.3   56.0   60.4   75.0   63.3   69.2
   (cents/pound)
   U.S. polypropylene
   [homopolymer]        81.2   76.7   63.8   68.5   72.5   88.0   76.2   82.1
   (cents/pound)
 Olefins and
 Polyolefins - Europe,
 Asia, International
  Volumes (million
  pounds)
   Ethylene produced    945    930    802    833    3,510  912    991    1,903
   Propylene produced   557    561    492    502    2,112  577    610    1,187
   Polyethylene sold    1,320  1,130  1,243  1,250  4,943  1,206  1,314  2,520
   Polypropylene sold   1,614  1,433  1,727  1,623  6,397  1,657  1,821  3,478
  Benchmark Market
  Prices (€0.01 per
  pound)
   Western Europe
   weighted average     45.4   31.7   39.6   38.9   38.9   36.2   29.3   32.7
   cost of ethylene
   production
   Western Europe       55.1   58.6   53.1   58.1   56.2   58.6   54.4   56.5
   ethylene
   Western Europe
   polyethylene [high   58.6   60.9   57.2   61.0   59.4   61.2   56.8   59.0
   density]
   Western Europe       50.1   54.1   47.6   50.8   50.7   50.6   47.9   49.3
   propylene
   Western Europe
   polypropylene        57.9   60.4   56.1   58.7   58.3   59.1   56.1   57.6
   [homopolymer]
 Intermediates and
 Derivatives
  Volumes (million
  pounds)
   Propylene oxide and  774    743    762    663    2,942  683    665    1,348
   derivatives
   Ethylene oxide and   312    275    311    260    1,158  260    277    537
   derivatives
   Styrene monomer      704    678    791    782    2,955  703    589    1,292
   Acetyls              489    444    499    406    1,838  431    470    901
   TBA Intermediates    462    448    441    399    1,750  434    357    791
  Volumes (million
  gallons)
   MTBE/ETBE            205    189    256    199    849    185    235    420
  Benchmark Market
  Margins (cents per
  gallon)
   MTBE - Northwest     125.1  122.0  149.9  76.3   118.2  104.9  88.4   96.6
   Europe
 Refining
  Volumes (thousands
  of barrels per day)
   Heavy crude oil      259    267    240    255    255    173    265    219
   processing rate
  Benchmark Market
  Margins
   Light crude oil -    9.34   14.04  14.71  7.91   11.50  9.80   11.54  10.70
   2-1-1
   Light crude oil -    10.81  9.12   11.94  16.45  12.05  11.17  6.95   8.95
   Maya differential
Source: LYB and third party consultants
Note: Benchmark market prices for U.S. and Western Europe polyethylene and
polypropylene reflect discounted prices.



Table 11 - Unaudited Income Statement Information
                 2012                                              2013
 (Millions of    Q1        Q2        Q3        Q4        Total     Q1        Q2        YTD
 U.S. dollars)
 Sales and other
 operating       $ 11,734  $ 11,248  $ 11,273  $ 11,097  $ 45,352  $ 10,669  $ 11,103  $ 21,772
 revenues
 Cost of sales     10,532    9,561     9,670     9,832     39,595    9,153     9,496     18,649
 Selling,
 general and       223       201       236       249       909       213       208       421
 administrative
 expenses
 Research and
 development       39        37        39        57        172       36        35        71
 expenses
   Operating       940       1,449     1,328     959       4,676     1,267     1,364     2,631
   income
 Income from
 equity            46        27        32        38        143       59        43        102
 investments
 Interest          (95)      (409)     (67)      (69)      (640)     (69)      (65)      (134)
 expense, net
 Other income      4         7         (7)       2         6         6         (9)       (3)
 (expense), net
   Income before   895       1,074     1,286     930       4,185     1,263     1,333     2,596
   taxes
 Provision for     301       306       435       285       1,327     357       410       767
 income taxes
   Income from
   continuing      594       768       851       645       2,858     906       923       1,829
   operations
 Income (loss)
 from
 discontinued      5         - -       (7)       (22)      (24)      (6)       4         (2)
 operations, net
 of tax
   Net income      599       768       844       623       2,834     900       927       1,827
 Net loss
 attributable to   1         2         2         9         14        1         2         3
 non-controlling
 interests
   Net income
   attributable
   to the        $ 600     $ 770     $ 846     $ 632     $ 2,848   $ 901     $ 929     $ 1,830
   Company
   shareholders



Table 12 - Unaudited Cash Flow Information
            2012                                             2013
 (Millions
 of U.S.    Q1       Q2       Q3       Q4         Total      Q1         Q2       YTD
 dollars)
 Net cash
 provided
 by         $ 913    $ 504    $ 2,042  $ 1,328    $ 4,787    $ 799    $ 1,264  $ 2,063
 operating
 activities
 Net cash
 used in      (185)    (245)    (266)    (317)      (1,013)    (408)    (389)    (797)
 investing
 activities
 Net cash
 provided
 by (used     (140)    55       (234)    (1,826)    (2,145)    (234)    (526)    (760)
 in)
 financing
 activities



Table 13 - Unaudited Balance Sheet Information
                   March     June 30,  September  December  March     June 30,
                   31,                 30,        31,       31,
 (Millions of U.S. 2012      2012      2012       2012      2013      2013
 dollars)
 Cash and cash     $ 1,670   $ 1,950   $  3,527   $ 2,732   $ 2,879   $ 3,233
 equivalents
 Restricted cash     9         14         19        5         6         2
 Accounts            4,209     3,888      4,083     3,904     3,878     4,023
 receivable, net
 Inventories         5,208     5,759      5,234     5,075     5,270     5,197
 Prepaid expenses
 and other current   1,002     755        532       570       622       577
 assets
   Total current     12,098    12,366     13,395    12,286    12,655    13,032
   assets
 Property, plant
 and equipment,      7,426     7,237      7,412     7,696     7,779     7,979
 net
 Investments and
 long-term
 receivables:
   Investment in
   PO joint          415       411        405       397       401       409
   ventures
   Equity            1,605     1,521      1,581     1,583     1,607     1,622
   investments
   Other
   investments and   76        70         361       383       421       231
   long-term
   receivables
 Goodwill            595       576        585       591       582       588
 Intangible          1,149     1,103      1,073     1,038     999       966
 assets, net
 Other assets, net   245       261        292       246       233       221
   Total assets    $ 23,609  $ 23,545  $  25,104  $ 24,220  $ 24,677  $ 25,048
 Current
 maturities of     $ - -     $ - -     $  - -     $ 1       $ 1       $ 1
 long-term debt
 Short-term debt     42        48         47        95        115       114
 Accounts payable    3,545     3,004      3,297     3,285     3,217     3,324
 Accrued             1,049     915        1,177     1,157     1,217     1,047
 liabilities
 Deferred income     310       277        304       558       557       550
 taxes
   Total current     4,946     4,244      4,825     5,096     5,107     5,036
   liabilities
 Long-term debt      3,984     4,305      4,305     4,304     4,307     4,306
 Other liabilities   2,281     2,208      2,153     2,327     2,306     2,325
 Deferred income     1,035     1,245      1,460     1,314     1,277     1,312
 taxes
 Stockholders'       11,310    11,492     12,312    11,139    11,641    12,032
 equity
 Non-controlling     53        51         49        40        39        37
 interests
   Total
   liabilities and $ 23,609  $ 23,545  $  25,104  $ 24,220  $ 24,677  $ 25,048
   stockholders'
   equity

SOURCE LyondellBasell Industries

Website: http://www.lyondellbasell.com