LyondellBasell Industries NV today reported a worse-than-expected 31 percent slide in revenue, as its product prices remain under pressure, the Wall Street Journal reported. The Dutch chemicals-and-polymer producer, which emerged from chapter 11 bankruptcy in 2010, provides compounds found in products ranging from electronics to construction materials and biofuels. Lyondell, with its U.S. headquarters in Houston, has benefited from lower natural gas prices that have led to lower key raw material costs, but it also has been hurt by diminished pricing power from cheaper oil. In recent quarters, however, lower product prices have pressured revenue. For the period ended Dec. 31 the price of ethylene fell 39 percent compared with the year prior.
