Boston, MA 08/19/2014 (wallstreetpr) – LyondellBasell Industries NV (NYSE:LYB) continued to surge in the market on Monday especially after overturning its 52 week high, last week, closing the day on a high of $111.16 after surging by 0.51%. With a market cap of around $57 billion, LyondellBasell stock has surged by 40% this year beating the S&P 500 average of 7% for the same period.
LyondellBasell Impressive Run
The rally in the market comes at the back of the company reporting impressive second quarter earnings that showed improvement in all its key segments. Olefins and Polyolefins are some of the segments that have continued to post impressive results. Going forward, LyondellBasell Industries NV (NYSE:LYB) expects strong production of oil and natural gas in the U.S to spur its margins.
Having successfully emerged from Chapter 11 bankruptcy at the epitome of the financial crisis in 2011, LyondellBasell Industries NV (NYSE:LYB) continues to benefit a great deal from the growing energy sector in America LyondellBasell has already stated that it remains focused in executing expansion projects that are set to leverage the U.S NGLs advantage at the back of its ethylene project expansion.
LyondellBasell Upcoming Projects
The Ethylene project represents’ approximately $1.3 billion worth of investments and expected to benefit from the booming shale gas production in North America. Once complete, the project is expected to expand annual ethylene capacity by up to 1.85 billion pounds with a projected aggregate capacity of 11.8 billion pounds in North America. LyondellBasell Industries NV (NYSE:LYB) has already restarted its methanol plant at Channelview along with other de-bottleneck projects that are sure to guarantee new capacity at lower costs.
Production in the La Porte ethylene expansion project is set to start in the third quarter. The company remains vulnerable to high levels of volatility especially on its raw materials as well as energy costs. Despite all this headwinds, the company remains focused on challenging the European markets.
