LyondellBasell Industries will turn down new business opportunities with Russian state-owned entities, and plans to discontinue existing business with those entities as well, said Plasticsnews.
Houston-based LyondellBasell also is donating 200,000 euros (USD220,000) to relief efforts in Ukraine. "We are closely monitoring the Russia-Ukraine situation as it continues to evolve," officials said in a statement sent to Plastics News. "LyondellBasell condemns the unprovoked attacks on Ukraine, and we are taking action to support the humanitarian efforts as a result of this conflict.
"In addition to abiding by all sanctions, effective immediately, LyondellBasell will not enter into any new business transactions or relationships, and to the extent legally possible, intends to discontinue business relationships with Russian state-owned entities. We are in the process of assessing how this will impact our operations, including feedstocks, utilities, supply chain providers, and customers."
Officials added that although LyondellBasell doesn't have operations in Ukraine, the firm has seen the rising number of refugees and dislocated families and is supporting the humanitarian crisis through its global corporate citizenship program, Advancing Good.
Half of LyondellBasell's donation will go to the United Nations High Commissioner for Refugees to provide shelter, emergency relief items, cash assistance and mental health support. The other half will go to the International Medical Corps to support their mobile medical units programs.
LyondellBasell ranks as a global leader in production of polyethylene and polypropylene resins and as North America's largest plastics compounder. The firm has operations in more than 100 countries — including Russian offices in Moscow and Togliatti — and posted sales of USD27.7 bn in 2020.
As MRC wrote earlier, in July, 2021, Neste and LyondellBasell announced a long-term commercial agreement under which LyondellBasell will source Neste RE, a feedstock from Neste that has been produced from 100% renewable feedstock from bio-based sources, such as waste and residue oils and fats. This feedstock will be processed through the cracker at LyondellBasell’s Wesseling, Germany, plant into polymers and sold under the CirculenRenew brand name.
As MRC informed earlier, three US subsidiaries of Dutch chemical giant LyondellBasell Industries N.V. (LBI) have agreed to make upgrades and perform compliance measures estimated to cost USD50 million to resolve allegations they violated the Clean Air Act and state air pollution control laws at six petrochemical manufacturing facilities located in Channelview, Corpus Christi, and LaPorte, Texas, and Clinton, Iowa, according to the Department of Justice and the US Environmental Protection Agency's (EPA) statement.
LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 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, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world"s largest producer of polymer compounds and the largest licensor of polyolefin technologies. In 2020, LyondellBasell was named to Fortune Magazine"s list of the "World"s Most Admired Companies" for the third consecutive year.
MRC