LyondellBasell Industries announced financial results for the second quarter of 2026 – the company earned net income of US$559 million.

Comparisons with the prior quarter and second quarter 2025.

“In a dynamic macroeconomic environment, we delivered exceptional results through deliberate commercial actions, the strength of our advantaged portfolio and improved market conditions supporting margin expansion,” said Peter Vanacker, Chief Executive Officer of LyondellBasell.

Geopolitical instability constrains supply chain across all business segments

In the second quarter, geopolitical instability resulted in dynamic and supply-constrained market conditions across all business segments.

In the O&P – Americas segment, results substantially improved relative to the prior quarter on expanding polymer margins and favorable co-product pricing due to tighter global market supply. The company operated its advantaged North American assets at approximately 90% utilization capitalizing on favorable market conditions.

O&P – Europe, Asia and International also benefited from improved polymer spreads driven by supply chain disruptions and stronger joint venture contributions.

Intermediates and Derivatives (I&D) delivered higher earnings driven by improving oxyfuels, methanol and PO derivatives margins partially offset by the Bayport PO/TBA unplanned outage during the quarter.

Bayport was successfully restarted in June, exiting the quarter at full operating rates and positioning the business for improved volume performance in the second half of the year.

Strategy highlights “Grow and Upgrade the Core”

LyondellBasell reached an important milestone in its portfolio transformation with the completion of the divestiture of four European assets during the second quarter. This demonstrates the company's continued progress to “Grow and Upgrade the Core” as part of its three-pillar strategy.

The company is now better positioned with increased resilience and greater flexibility to navigate the cycle and capture market upside by increasing the proportion of its assets connected to advantaged feedstocks.

Outlook: Supply uncertainty remains

Recently, conditions in the Middle East remain fluid – LyondellBasell expected this to continue to be a source of volatility for energy and petrochemical value chains. The pace, timing and magnitude at which conflict-impacted supply will return to the market remains uncertain with the recovery period likely extending into 2027.

While the company does not anticipate material demand deterioration in its key end markets, uncertainty on the near-term price outlook could temporarily impact normal buying patterns.