LyondellBasell expects second-quarter boost from higher petrochemical margins

May 1 (Reuters) - Petrochemicals maker LyondellBasell LYB.N said on Friday it expects sequential improvement in the second quarter, as tighter global supply and stronger pricing amid the Middle East conflict lift margins across most of its businesses.

The company said reduced exports from the Middle East and Asia, particularly into Europe, are supporting higher polymer margins, while stronger export demand and crude-linked pricing are expected to drive further margin expansion in North America.

• The company posted adjusted profit of 49 cents per share for the quarter ended March 31, compared with analysts' average estimate of 20 cents per share, according to data compiled by LSEG.

• It posted quarterly revenue of $7.2 billion, missing estimates of $7.32 billion.

• Shares of LyondellBasell were down 1% in premarket trading following the results.

• The Middle East war has steepened the global cost curve for the petrochemical industry, the company said.

• "We are leveraging the lowest delivered cost with advantaged assets in North America and passing through higher raw material costs in Europe to profitably serve local demand," CEO Peter Vanacker said.

• Adjusted core profit at the olefins and polyolefins-Americas unit doubled from the prior quarter, as lower feedstock costs and rising product prices boosted polyethylene margins, offsetting winter storm impacts.

• LyondellBasell plans to maximize North American olefins and polyolefins operating rates and lift the rates for European O&P to 80%.

• It plans to keep intermediates and derivatives rates at 75%, as it seeks to capture stronger margins from cost-advantaged production and higher export demand.