EXHIBIT 12 EQUISTAR CHEMICALS, LP Statement Setting Forth Detail for Computation of Ratio of Earnings to Fixed Charges - Unaudited (Millions of Dollars) Six Months Ended June 30, Years Ended December 31, -------- ---------------------------------- 2001 2000 1999 1998 -------- -------- -------- -------- Income (loss) from continuing operations before income taxes.................................................. A $(107) $ 153 $ 32 $ 143 Fixed charges: Interest expense, gross...................................... 91 185 182 156 Portion of rentals representative of interest................ 19 38 37 37 ----- ----- ----- ----- Total fixed charges before capitalized interest........... B 110 223 219 193 Capitalized interest......................................... -- -- -- -- ----- ----- ----- ----- Total fixed charges including capitalized interest........ C 110 223 219 193 ----- ----- ----- ----- Earnings (A+B)................................................ D $ 3 $ 376 $ 251 $ 336 Ratio of earnings to fixed charges (D/C)...................... -- (a) 1.7 1.1 1.7 ===== ===== ===== ===== --------------- (a) For the six months ended June 30, 2001, earnings were insufficient to cover fixed charges by $107 million.