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LyondellBasell

LyondellBasell

Industry: 
Chemicals, Energy
Symbol: 
NYSE:LYB
States: 
TX
Country: 
Netherlands
Sources: 

“LyondellBasell Industries NV, one of the world's biggest plastic and chemical producers, will end its business operations in Iran to shield itself against penalties the U.S. could soon impose on companies for violating trade sanctions.” (The Wall Street Journal, “LyondellBasell Will Quit Iran,” 8/5/10)

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Firm/country: LyondelBasell/The Netherlands;

Firm activity: Supplying technology for new HDPE petrochemical plant in Kermanshah, increasing capacity by 300,000 metric tons per year;

Status: Expected completion 2009 to 2010;

Commercial activity: Not reported;

Firm comment: Confirmed activities. Noted that profits from the two projects are small compared to its European operations.

(GAO report 2010 - "Firms Reported in Open Sources as Having Commercial Activity in Iran’s Oil, Gas, and Petrochemical Sectors")

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"Lyondell Basell Company had previously participated in Amirkabir and Jam petrochemical complexes’ development plans. National Petrochemical Company’s Project Manager Jalil Ebrahimpour said for his part that the abovementioned petrochemical complexes are parts of the Dena ethylene pipeline, each with the annual projected HDPE output of 300,000." (Tehran Times, "World praises Iran’s petrochemical achievements: LyondellBasell exec," 6/10/2009) 

Response: 

“LyondellBasell Industries NV, one of the world's biggest plastic and chemical producers, will end its business operations in Iran to shield itself against penalties the U.S. could soon impose on companies for violating trade sanctions.” (The Wall Street Journal, “LyondellBasell Will Quit Iran,” 8/5/10)