503 Backend fetch failed

Error 503 Backend fetch failed

Backend fetch failed

Guru Meditation:

XID: 861104139


Varnish cache server

LYONDELLBASELL INDUSTRIES N.V.

(LYB)
  Report
Delayed Nyse  -  04:04 2022-08-10 pm EDT
89.00 USD   +1.99%
08/03Mizuho Securities Lowers LyondellBasell Industries Price Target to $113 From $132, Maintains Buy Rating
MT
08/03WALL STREET STOCK EXCHANGE : A couple of hopes dashed
MS
08/03ANALYST RECOMMENDATIONS : Advanced Micro Devices, Uber, SBA Communications, Global Payments, Simon Property...
MS
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LyondellBasell Announces Renewable Energy Power Purchase Agreements

06/29/2022 | 08:01am EDT

HOUSTON, June 29, 2022 /CNW/ -- LyondellBasell has signed its first two U.S. power purchase agreements (PPA) supporting the company's climate goal to procure a minimum of 50 percent of electricity from renewable sources by 2030. The combined agreements represent 216 megawatts (MW) of renewable energy, which is estimated to generate approximately 628,000 megawatt-hours (MWh) of clean power annually. Approximately 15 percent of LyondellBasell's total scope 1 and 2 greenhouse gas emissions come from its electricity consumption. These agreements will enable the company to reduce its carbon dioxide emissions by approximately 225,000 metric tons annually.

"Creating a better future for the next generation is important to us, which is one reason we are focused on delivering on our climate goal to achieve net zero emissions from our global operations," said Peter Vanacker, LyondellBasell CEO. "Renewable energy is an important component for how we will get there, and power purchase agreements are our preferred approach to decarbonizing our electricity supply. These strategic projects propel us forward in greenhouse gas emissions reduction, but they also provide scalability and support investment in new renewable energy capability."

ENGIE Limestone Wind Project
LyondellBasell signed a PPA with ENGIE North America (ENGIE) for 100 MW of renewable electricity sourced from ENGIE's new Limestone wind project in Texas' Navarro and Limestone counties. The project is expected to commence operations late in 2022. 

The 12-year agreement is estimated to generate approximately 377,000 MWh of clean power annually, equivalent to around 135,000 metric tons of carbon dioxide or the yearly electricity consumption of more than 35,000 average American homes.

"This agreement demonstrates a collaboration to create a path forward that helps address the collective global challenge of climate change," said ENGIE Chief Renewables Officer David Carroll. "We are particularly honored to work with LyondellBasell on their first PPA agreement which will deliver steady economic and environmental value in the long run for both parties."

Buckeye Files Solar Project
LyondellBasell also signed a PPA with Buckeye Partners for 116 MW of renewable electricity sourced from its Files solar project located in Hill County outside of Dallas, Texas. The solar farm is expected to begin operations in the second quarter of 2023.

The 10-year agreement is estimated to generate approximately 251,000 MWh of clean power annually, equivalent to around 90,000 metric tons of carbon dioxide or the yearly electricity consumption of more than 23,300 average American homes.

"Buckeye is pleased to partner with LyondellBasell on this new power purchase agreement and to support their sustainability goals," said Buckeye CEO Todd Russo. "This partnership is illustrative of our focus on providing for the increasingly diverse energy needs of our customers, including solar power."

LyondellBasell's climate-related goals support the ambitions of the Paris Agreement and the transition to a low-carbon economy. By procuring at least half of its electricity from renewable sources by 2030, LyondellBasell estimates the company's scope 2 greenhouse emissions will be reduced by approximately 1.5 million metric tons. LyondellBasell's renewable energy goal supports its commitment to achieve net zero scope 1 and 2 greenhouse gas emissions by 2050.

About LyondellBasell

As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce.  The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

Forward-Looking Statements

The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this presentation, the words "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, the availability, cost and price volatility of utilities; our ability to meet our sustainability goals, including our ability to  reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to procure energy from renewable sources; and the successful construction and operation of the projects described in this release. 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, 2021, 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. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/lyondellbasell-announces-renewable-energy-power-purchase-agreements-301575887.html

SOURCE LyondellBasell Industries

© Canada Newswire, source Canada Newswire English

503 Backend fetch failed

Error 503 Backend fetch failed

Backend fetch failed

Guru Meditation:

XID: 861104147


Varnish cache server

All news about LYONDELLBASELL INDUSTRIES N.V.
08/03Mizuho Securities Lowers LyondellBasell Industries Price Target to $113 From $132, Main..
MT
08/03WALL STREET STOCK EXCHANGE : A couple of hopes dashed
MS
08/03ANALYST RECOMMENDATIONS : Advanced Micro Devices, Uber, SBA Communications, Global Payment..
MS
08/02BMO Capital Adjusts LyondellBasell Industries Price Target to $101 From $114, Maintains..
MT
08/02Wells Fargo Securities Lowers LyondellBasell Industries NV's Price Target to $115 From ..
MT
08/02Morgan Stanley Lowers Price Target for LyondellBasell Industries NV to $115 From $127, ..
MT
08/02RBC Cuts Price Target on LyondellBasell Industries to $97 From $99, Notes Impacts From ..
MT
08/02Barclays Adjusts Price Target on LyondellBasell Industries to $102 From $110, Reiterate..
MT
08/02Deutsche Bank Adjusts Price Target on LyondellBasell Industries to $95 From $120, Maint..
MT
08/01UBS Adjusts LyondellBasell Industries Price Target to $96 From $93, Maintains Neutral R..
MT
More news
Analyst Recommendations on LYONDELLBASELL INDUSTRIES N.V.
More recommendations
Financials (USD)
Sales 2022 54 988 M - -
Net income 2022 5 510 M - -
Net Debt 2022 10 164 M - -
P/E ratio 2022 5,33x
Yield 2022 5,13%
Capitalization 29 032 M 29 032 M -
EV / Sales 2022 0,71x
EV / Sales 2023 0,74x
Nbr of Employees 19 100
Free-Float 75,2%
Chart LYONDELLBASELL INDUSTRIES N.V.
Duration : Period :
LyondellBasell Industries N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LYONDELLBASELL INDUSTRIES N.V.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 89,00 $
Average target price 102,30 $
Spread / Average Target 14,9%
EPS Revisions
Managers and Directors
Peter Vanacker Chief Executive Officer & Director
Michael C. McMurray CFO, Principal Accounting Officer & Executive VP
Jacques Aigrain Chairman
James Seward SVP-Research & Development, Technology
Jagjeet Singh Bindra Independent Director
Sector and Competitors