amended: Recasts story to present revenues in billions and removes analyst estimates LyondellBasell Industries (LYB) reported net income of $599 million or $1.04 per share for the first quarter, lower than last year's $660 million or $1.15 per share.
Sales and other operating revenues for the three-month period fell to $11.88 billion from $12.25 billion in the comparable quarter a year ago.
Jim Gallogly, LyondellBasell chief executive officer, said, "We had a solid start to 2012 as margins in North American olefins and our Houston refinery rebounded from the weak levels experienced in the fourth quarter of last year. Benchmark margins in both businesses were excellent at the end of the quarter, and the momentum has continued into the second quarter. In North American olefins, planned and unplanned industry maintenance led to a reduction in the cost of raw materials and increased ethylene prices."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.