Sector News

LyondellBasell Appoints Bhavesh Patel as CEO

December 19, 2014
Energy & Chemical Value Chain
Chemicals company LyondellBasell Industries has appointed Bhavesh V. Patel as chief executive, succeeding James L. Gallogly, who previously announced plans to retire.
 
The change is effective Jan. 12.
 
Mr. Gallogly said in September that he would retire in early 2015 from LyondellBasell, which has operations including plastics, chemicals and refining.
 
Mr. Patel most recently served as executive vice president of olefins and polyolefins. He previously worked at Chevron Corp. and Chevron Phillips Chemical Co., and joined LyondellBasell in March 2010 as senior vice president of O&P. He was promoted to executive vice president in October 2013 and appointed to the management board in April.
 
The Houston-based chemicals-and-polymer producer has posted high revenue and earnings growth in the past few quarters, a large turnaround since it emerged from Chapter 11 bankruptcy in 2010. In its most recently ended quarter, earnings rose 6.7%, led by a 40% increase in operating revenue from one of Mr. Patel’s segment: olefins in the Americas.
 
Shares of LyondellBasell, which were inactive premarket, are down about 6% this year.
 
By Angela Chen
 

comments closed

Related News

April 14, 2024

Nadja Håkansson appointed Chief Executive Officer of thyssenkrupp Uhde

Energy & Chemical Value Chain

The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.

April 14, 2024

Neste and Lotte Chemical team up to scale renewable plastics from used cooking oil

Energy & Chemical Value Chain

Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.

April 14, 2024

EU chemical industry confidence shows upward trend

Energy & Chemical Value Chain

At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.

How can we help you?

We're easy to reach