HOUSTON, February 9, 2011 – LyondellBasell (NYSE: LYB) today issued the following statement concerning the recent fire at Enterprise Products at Mont Belvieu, Texas:

“We continue to take steps to address the olefins feedstock disruptions caused by the fire at Enterprise’s Mont Belvieu plant.  We have considerable feedstock flexibility at Channelview and have adjusted the feedstock slate to maintain normal operations.
 

“The La Porte olefins unit is currently operating at reduced rates.  We are exploring our options to increase olefins feedstock supply at La Porte that include Enterprise and other pipelines.  We anticipate that we will have additional flexibility at La Porte in the near term.”

# # #

LyondellBasell (NYSE: LYB) is one of the world’s largest plastics, chemical and refining companies. The company manufactures products at 59 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyondellbasell.com.

SOURCE:  LyondellBasell Industries

Media Contact:             David A. Harpole +1 713-309-4125

Investor Contact:         Douglas J. Pike +1 713-309-7141