LyondellBasell Industries N.V. (LYB) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that LyondellBasell Industries N.V. surfaced in its latest filing.

• Third quarter 2025 non-cash impairment charges of $1,182 million due to a prolonged downturn in the European petrochemical and global automotive industries, combined with a sustained decline in market capitalization.2025
• March 2025 permanent closure of the PO/SM production unit at the Maasvlakte site in the Netherlands, a joint venture with Covestro, resulting in $126 million in shutdown costs.March 2025
• In 2025, the company agreed to sell certain European olefins and polyolefins assets and the associated business. The sites to be sold are located in Berre l'Etang (France), Munchsmunster (Germany), Carrington (United Kingdom), and Tarragona (Spain). Closing is expected in the second quarter of 2026.2025
• In a November 2024 Netherlands court decision, Royal Dutch Shell was held to have an obligation to take measures to combat climate change.November 2024
• In 2024, the company and eight other industry defendants were named in a proposed class action in Kansas related to industry-wide claims about plastics recyclability. Causes of action include public nuisance, antitrust, unfair competition, consumer protection, and unjust enrichment.2024
• Beginning construction in 2024 on the first industrial-scale chemical recycling plant at the Wesseling, Germany site. The Wesseling plant utilizes proprietary MoReTec technology.2024
• Temporary shutdowns of plants on the U.S. Gulf Coast due to hurricanes and cold weather events impacting Texas and Louisiana.
• Higher costs from delaying construction of the Houston PO/TBA plant impacted the projected rate of return.
• Deferred construction on Flex-2 project in Channelview to preserve capital during market downturn.
• Postponed final investment decision on MoReTec-2 which could result in increased costs.
• As of December 31, 2025, no borrowings or letters of credit outstanding under the $3,750 million revolving credit facility, leaving $3,750 million unused.December 31, 2025
• $900 million U.S. Receivables Facility available, with no borrowings or letters of credit outstanding as of December 31, 2025.December 31, 2025
• Many pension plans have projected benefit obligations exceeding plan assets, with aggregate deficit of $863 million as of December 31, 2025.December 31, 2025
• EU Single Use Plastics Directive adopted in 2019, with bans, product design requirements, EPR obligations, and labeling requirements.2019
• EU Packaging and Packaging Waste Regulation replacing the Packaging and Packaging Waste Directive.
• UN Environment Program overseeing development of a new international legally binding instrument on plastic pollution; negotiations ended in 2025 without agreement.2025