Exhibit 99.2
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Investors – Doug Pike (713) 309-4590
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Lyondell Announces Capital Investment Plan for 2007
HOUSTON (Jan. 25, 2007) – Lyondell Chemical Company (NYSE: LYO) today announced its plan for 2007 capital expenditures.
Components of the 2007 capital plan, actual 2006 capital expenditures and actual 2006 depreciation and amortization are shown below by segment.
| | | | | | | | | | | | | | | | | | |
| Millions of dollars | | PORP (a) | | EC&D (b) | | Inorganic Chemicals | | Refining (c) | | Other | | Total |
2007 Capital Plan | | $ | 80 | | $ | 205 | | $ | 55 | | $ | 150 | | $ | 10 | | $ | 500 |
2006 Capital Expenditures | | $ | 90 | | $ | 175 | | $ | 54 | | $ | 238 | | $ | 5 | | $ | 562 |
2006 Depreciation and Amortization (D&A) | | $ | 234 | | $ | 386 | | $ | 95 | | $ | 161 | | $ | 7 | | $ | 883 |
| (a) | Propylene oxide and related products. Includes contributions to U.S. and European PO Joint Ventures. |
| (b) | Ethylene, Co-products and derivatives. Includes capital of $13 million in 2007 and $7 million in 2006, and D&A of $24 million related to acetyls. |
| (c) | Includes 100 percent of Houston Refining LP. D&A includes effects of Aug. 16, 2006, Lyondell acquisition. |
Projected 2007 capital spending for base support and minor plant efficiency projects totals approximately $305 million across the company; the EC&D component of this is expected to be greater than typical due to life-cycle equipment replacement. Environmental and regulatory project spending totals $95 million. The majority of this spending will be in the refining and EC&D segments. The balance of the planned funds will be directed toward profit enhancement primarily within the EC&D business, including projects devoted to further co-product upgrading and raw materials flexibility.
ABOUT LYONDELL
Lyondell Chemical Company, headquartered in Houston, Texas, is North America’s third-largest independent, publicly traded chemical company. Lyondell is a major global manufacturer of basic chemicals and derivatives including ethylene, propylene, titanium dioxide, styrene, polyethylene, propylene oxide and
Lyondell Chemical Company
www.lyondell.com
acetyls. It also is a refiner of heavy, high-sulfur crude oil and a significant producer of gasoline-blending components. Lyondell is a global company operating on five continents and employs approximately 11,000 people worldwide.
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SOURCE: Lyondell Chemical Company
Lyondell Chemical Company
www.lyondell.com
