WASHINGTON (dpa-AFX) - LyondellBasell Wednesday said it has launched a
strategic review of the European assets of its Olefins & Polyolefins and
Intermediates & Derivatives business units.

The assessment will evaluate the assets through the lens of the company's
strategy to Grow & Upgrade the Core, Build a Profitable Circular and Low Carbon
Solutions Business, and Step Up Performance & Culture.

'At the 2023 Capital Markets Day, we stated our intent to concentrate our
portfolio around businesses with long-lasting competitive advantage and to
reinvest around those advantaged areas generating superior returns at meaningful
scale,' said Peter Vanacker, LyondellBasell chief executive officer. 'These
criteria have not changed.'

The company's investments in a commercial-scale MoReTec plant, LyondellBasell's
proprietary technology to convert plastic waste into liquid raw materials, and
the development of a circularity hub in the Cologne, Germany region will
continue as planned. LyondellBasell will also continue to invest and leverage
its differential technology position as a key enabler to grow and upgrade the
core asset base.

'The company will prioritize its investments to align operations with our
circularity and net zero ambitions,' Vanacker added. 'We understand that
strategic assessments can create uncertainty for our employees and customers,
but we are committed to operate our assets safely and reliably throughout this
process.'



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