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Dallas Fed appoints LyondellBasell CEO to Houston branch board

January 11/2021

MOSCOW (MRC) -- The Federal Reserve Bank of Dallas has appointed LyondellBasell CEO Bob Patel to its Houston branch board of directors for a term ending 31 December 2023, according to Chemweek.

Patel has served as LyondellBasell CEO since 2015. Patel also serves on the board of Union Pacific.

As MRC reported previously, in early December 2020, LyondellBasell, one of the world's largest plastics, chemicals and refining companies, announced it had joined the United Nations (U.N.) Global Compact, the world's largest corporate sustainability initiative. Under the U.N. Global Compact, signatories are encouraged to align their operations and strategies with key principles on human rights, labor and anti-corruption.

We remind that in September 2020, LyondellBasell announced that Duqm Refinery and Petrochemical Industries Company LLC (DRPIC) selected LyondellBasell's world-leading polypropylene (PP) and high-density polyethylene (HDPE) technologies for a new facility. The new plants will comprise of a PP plant that will utilize LyondellBasell's Spheripol PP process technology to produce 280,000 metric tons per year (m.t./yr) of PP and a 480-m.t./yr high-density polyethylene (HDPE) plant which will utilize LyondellBasell's Hostalen ACP process technology and will be built in Al Duqm, Oman.

According to MRC's ScanPlast report, Russia's estimated polyethylene (PE) consumption totalled 1,990,280 tonnes in the first eleven months of 2020, up by 1% year on year. Only high density polyethylene (HDPE) shipments increased. At the same time, polypropylene (PP) shipments to the Russian market reached 1 090,900 tonnes in the first eleven months of 2020 (calculated using the formula: production, minus exports, plus imports, excluding producers' inventories as of 1 January, 2020). Supply of exclusively PP random copolymer increased.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world"s largest licensor of polyolefin technologies.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, PP random copolymer, HDPE, petrochemistry, LyondellBasell, sustainable development, Russia.
Category:General News
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