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LyondellBasell (LYB) PE Technology Chosen by PetroChina
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LyondellBasell Industries N.V. (LYB - Free Report) has announced that PetroChina Guangxi Petrochemical Company will license its polyethylene (PE) technology at the latter’s Qinzhou City, Guangxi, P.R. of China facility. The newly licensed technology will encompass LYB's leading high-pressure Lupotech process technology, which will be used for both a 100 kiloton per year (KTA) Autoclave and 300 KTA Tubular line.
Low-density polyethylene and ethylene vinyl acetate copolymers are the principal products that both production trains will manufacture. Additionally, a 300 KTA Hostalen Advanced Cascade Process plant for manufacturing high density polyethylene will be constructed onsite.
This acknowledgment from PetroChina builds on the company's long history of working with LyondellBasell, as around 6,000 KTA of capacity has been licensed to the PetroChina group. PetroChina will be able to compete in the market and create benchmark resins using the selected polyolefin technologies.
Shares of LYB have gained 10.1% over the past year compared with a 18% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, said it anticipates a slight increase in global demand driven by usual seasonal trends. The demand for transportation fuels is expected to increase over the summer, supporting oxyfuels and refining margins. Delays at the beginning of industry-wide capacity expansions for PE in North America are likely to lower new market supply and support PE margins.
To keep pace with the market expectation, LyondellBasell estimates operating Intermediates & Derivatives assets at 80%. It expects to modestly raise global olefins and polyolefins operating rates to 85%. The company will continue to monitor the impact on petrochemical markets in the second half of 2023 of shifting global monetary policies and strengthening economic conditions in China.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) and PPG Industries, Inc. (PPG - Free Report) .
CRS currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for current-year earnings for CRS is currently pegged at $1.04, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 198.1%, on average. The stock has gained around 108.3% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Silvercorp Metals currently flaunts a Zacks Rank #1. The consensus estimate for current fiscal-year earnings for Silvercorp Metals is currently pegged at 27 cents, suggesting year-over-year growth of 28.6%. The stock has jumped roughly 29.3% in the past year.
PPG Industries currently sports a Zacks Rank #1. The Zacks Consensus Estimate for PPG's current-year earnings has been revised 0.7% upward over the past 60 days. PPG Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed once. It has a trailing four-quarter earnings surprise of roughly 6.8%, on average. PPG shares have gained around 32% in a year.
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LyondellBasell (LYB) PE Technology Chosen by PetroChina
LyondellBasell Industries N.V. (LYB - Free Report) has announced that PetroChina Guangxi Petrochemical Company will license its polyethylene (PE) technology at the latter’s Qinzhou City, Guangxi, P.R. of China facility. The newly licensed technology will encompass LYB's leading high-pressure Lupotech process technology, which will be used for both a 100 kiloton per year (KTA) Autoclave and 300 KTA Tubular line.
Low-density polyethylene and ethylene vinyl acetate copolymers are the principal products that both production trains will manufacture. Additionally, a 300 KTA Hostalen Advanced Cascade Process plant for manufacturing high density polyethylene will be constructed onsite.
This acknowledgment from PetroChina builds on the company's long history of working with LyondellBasell, as around 6,000 KTA of capacity has been licensed to the PetroChina group. PetroChina will be able to compete in the market and create benchmark resins using the selected polyolefin technologies.
Shares of LYB have gained 10.1% over the past year compared with a 18% rise of its industry.
Image Source: Zacks Investment Research
The company, on its first-quarter call, said it anticipates a slight increase in global demand driven by usual seasonal trends. The demand for transportation fuels is expected to increase over the summer, supporting oxyfuels and refining margins. Delays at the beginning of industry-wide capacity expansions for PE in North America are likely to lower new market supply and support PE margins.
To keep pace with the market expectation, LyondellBasell estimates operating Intermediates & Derivatives assets at 80%. It expects to modestly raise global olefins and polyolefins operating rates to 85%. The company will continue to monitor the impact on petrochemical markets in the second half of 2023 of shifting global monetary policies and strengthening economic conditions in China.
LyondellBasell Industries N.V. Price and Consensus
LyondellBasell Industries N.V. price-consensus-chart | LyondellBasell Industries N.V. Quote
Zacks Rank & Key Picks
LyondellBasell currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks to consider in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Silvercorp Metals Inc. (SVM - Free Report) and PPG Industries, Inc. (PPG - Free Report) .
CRS currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for current-year earnings for CRS is currently pegged at $1.04, implying year-over-year growth of 6.3%. It has a trailing four-quarter earnings surprise of roughly 198.1%, on average. The stock has gained around 108.3% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Silvercorp Metals currently flaunts a Zacks Rank #1. The consensus estimate for current fiscal-year earnings for Silvercorp Metals is currently pegged at 27 cents, suggesting year-over-year growth of 28.6%. The stock has jumped roughly 29.3% in the past year.
PPG Industries currently sports a Zacks Rank #1. The Zacks Consensus Estimate for PPG's current-year earnings has been revised 0.7% upward over the past 60 days. PPG Industries’ earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed once. It has a trailing four-quarter earnings surprise of roughly 6.8%, on average. PPG shares have gained around 32% in a year.