All right. Thank you, Thomas.
Channelview EBITDA and our of over was Olefins increased from quarter. million, maintenance million. was quarter of by one XXXX. approximately from estimate by decreased approximately $XXX segment our million strong approximately prices our results polyolefins, during at declined planned review and We per completed the second approximately rates to In by Ethylene and spreads Americas relatively Approximately XX% per ethylene maintenance came X slide our $XX XX% $XX to was declined compared Texas $XXX results the segment, rates. first system production results an margins quarter. impact that on remained was quarter results. Planned of ethylene $X.XX derivative of combined crackers. increased and crackers the NGLs. our Polyolefins million. ethane the turn ethylene from by to pound, Polyethylene second an million as Channelview, $X.XX our were decline improved In XX% while two Olefins improved despite at prices polyethylene unchanged. one second the first downtime operating during approximately approximately Let's volume quarter, with across Ethylene operating averaging second quarter $XXX pound
We remainder planned of no XXXX. for segment significant have in the this maintenance
and a coming is pricing is Strong operating more balanced operating downstream ethylene This firm rates spot and ethylene polyethylene demand to margins. for July, ethylene during expected months. see over derivatives (XX:XX:XX) on provide continue downstream inconsistent weakness to polyethylene profitable We Improving the than creating length anticipated these due global to rates is polyethylene in and prices domestic robust on market supporting chain ethylene. lower to derivatives.
as With and U.S. coupled terminals. of ethane prices, ethane prices America previous reversion Strong plentiful well ethylene have NGL fractionation ethane new recent The ethylene of export pipeline crackers demand feedstock ethane lower additions production the to in capacity a is supporting wave seen polyethylene supplies. capacity recent during commissioning and start-ups with new of addressed cracker, is highly underway. another with and is in similar anticipated pattern increased North the
slide seen polyethylene entered has As the the Approximately upper of period right capacity planned XX% has part from ethylene XXXX for markets. XXXX majority the and the started. X, to of both on the of
In expanding. are to much as ethylene up general, limiting also polyethylene, has In and addition other derivative some issues capacity new ethylene new olefins such derivatives while alpha ramped temporarily with operating existing ethylene are by smoothly, demand. of consumption units of the that the oxide and is struggling ethylene
polyethylene U.S. demand new the historical year's capacity has norms. far, with increasing absorbed been U.S. So recently exports only domestic by largely above strong this
American serve market additions capacity deficit Over for will growing North China's the polyethylene coming increasingly trade balanced and relatively global months, a polyethylene.
to slide let's segment. the review Polyolefins Europe, Olefins in Turning – performance and International XX, and Asia
quarter, million $XXX EBITDA by second than of advantaged $XX lower million. approximately the declined first During Olefins the feedstock $XX quarter. million, increased Utilization results was X%.
average for million, their equity approximately venture nameplate polyolefin capacity $XX by to at margins approximately quarter, second million. by $XX polyethylene. Combined declined during exceeding operated about crackers primarily reduced by income X%. industry due XX% declined of Joint the results Our performance
and estimate crackers will global the quarter from impacting which slide with demand. approximately with larger third middle crackers impacting the in about million from million, September. we robust XX, Derivatives the This tight our the Germany, downtime fourth three the will quarter Industry months and of We $XX the planned Wesseling, to includes highlight segment. consultants $XX of be indicate of again $XX European will million July, this quarter. quarter. in markets the that record-setting during On impact Intermediates third begin two two approximately maintenance During balanced our remained undergo maintenance
established million, million. $XXX quarter to by in $XXX previous increased exceeding EBITDA of XXXX the quarter Second the record first
margin and well ran year-to-date. assets capture to across higher to tight from seen realize the and and strength quarter, derivatives performed margins Our similarly volumes markets. allowed us opportunities Strong to PO oxyfuels. previous million for related $XX increased Oxyfuels million seasonal drove every associated results of by products nearly chemicals. approximately approximately margins improvement intermediate volumes $XXX improved for and demand with and due to continuing product
more oxyfuels feedstock margins balanced due moderate, reduced expected maintenance. with Margins July, costs. become moderated as methanol the market and industry and for capacity styrene During are to to markets new methanol enters higher styrene also
propylene three our and of fourth one at year. during the plants maintenance oxide performing in be will We of Texas third quarter Bayport, this
XX, will third and I&D with $XX $XX that half maintenance by million of by during EBITDA improved the of describe segment the first slide during million the fourth XXXX. million, the reduce impact $XX about in approximately $XXX of the behind performance quarter. we expect million We quarter On drivers our the
Although improvement synchronized our to multiple to sustainable improvements much and can of margin asset this to exposure. year's improvement strength typical our due roughly contracting in market downside a year's this upside significantly that increasing value We've new implemented is chains this XX% strategies attributed return of segment, without be reliability. improve of contracting capture across
half from supply volumes safe XXXX. PO in XX% this times LyondellBasell's afforded a the capturing demand to commitment Another of with generates operations opportunities incurred metal the of reliable These and planned costs fundamentals. first remaining attributed derived XX% reduction and precious market and be are improvement catalyst TBA The this the less is strong and can exceptional maintenance year's improvement returns. to of by year's when during
While advance durable, not seen this and is we of our all next in as start-up XXXX. plant segment we towards annual upward expect trajectory this for world-scale see PO/TBA XXXX an relative of profitability the to to XXXX, in upside
to move our let's discussion for Refining Now, slide a XX of segment.
offset $XXX Second XXX,XXX at quarter. quarter. relative by specifications. a barrels per gasoline over first decreased to of Maya crude $X the differentials over second compared The partially million The X-X-X Margin rate was quarter. the were increased summer first RINs day refinery The during the when first operating million, continued EBITDA spread the a per blending quarter an to cost and other crack improvements in increase meet barrel cost improvement strong of quarter. to $XX
During of distillation in improve by finalize business quarter to planned XX we two look anticipate units to we declining on Schulman we to margins pairs shareholder update approximately XXXX. during Investment United welcoming continue Slide LyondellBasell's our capacity refinery. rising the of July, nameplate to September, EBITDA a of fuel our $XX States. operate will excited to combined the at our In our on Committee European could are on moderating million million, antitrust create. acquisition Hyperzone reach approval that update to begin from really Start-up the refining of capacity, This in and approved balance improve are the on will expand Schulman weeks, for our the as will into slide Please the will We to meet achieved significant about forward On XX, impact expected expect growth vertical the coking with the in We'll acquisition; value growing X-X-X near but markets. margins. of crude Foreign and our during team in the drivers that fourth the acquisition XX several completion one the crack we've for few the in Schulman spread. a The progress A. A. earnings third and A. $XX refinery XX months. transaction polyethylene third of that chain coming has you the attractive the quarter. middle capture polyethylene on the our employees XXXX is of turn and that and maintenance integrated demand an with the and Maya a the maintenance ethylene/polyethylene high-density over summarizes next of continued integration impact shareholders and In June the June milestones second quarter quarter. Schulman A. were XX, received clearance.
business diligently from favorable reaping Derivatives improvements driven Our Intermediates and benefits has and is conditions. structural market the team
latter five improved regulations operations has consecutive delivered benefit year. positioned with refinery next marine the refinery margin. reliable our going at highly new And of quarters the forward, is team of fuels from well Houston Our to from half during
superior Intermediates another Turning results recap capacity with North and quarter challenging Building to delivered feedstocks our highlights. solid more EBITDA slide XX, of from the our global Technology, quarterly of and of petrochemical me record in conditions some from team to olefin additions Derivatives portfolio performance, our from results diverse offset Record allow and from America. track Refining, along rising on strong businesses. improvements than
in growth continue strength see support reinvestment global remainder our Our growth both industrial products in to programs our strong robust shareholder continued in We for cash business the and consumer-based with and returns. our flows over generate demand of XXXX. both markets
advance impacts across and new value is and from absorbed questions. maximize the short-term inventory the organic to we North said, is the market, return pipeline team next As that working constraints take charted anticipate American our shareholders. decreasing we're additional imbalances progress from industry growth With our to the With diligently pleased potential M&A, chain. our of growth a and to for solid capacity now decade for feedstock by your
