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Lyondell posts gains for PO business

By Patrick Raleigh, UT On-line/news editorHouston, Texas-Lyondell Chemical Co.’s Intermediate Chemicals & Derivatives (IC&D) segment has posted second-quarter operating earnings of $20 million, compared to a loss of $6 million in the same period last year. The unit, which produces propylene oxide and its derivative, TDI (toluene diisocyanate), MTBE fuel additives and styrene monomer, also noted a 27-percent rise in sales to $1161 million.The Houston group linked its higher IC&D earning to better MTBE margins and PO and PO derivative product volumes. These gains, it said, offset lower styrene and TDI margins, which fell by about $20 million.Compared to the first quarter of 2004, Lyondell noted a decline in PO and PO derivative volumes due in part to maintenance activity. Price increases for PO, its derivatives and TDI generally offset a rise raw materials costs since the first quarter, the company added.”

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