Exhibit 99.1

NEWS RELEASE

HOUSTON and LONDON, October 23, 2015

LyondellBasell Reports Record Quarterly Results

Third Quarter 2015 Highlights

LyondellBasell Industries (NYSE: LYB) today announced earnings from continuing operations for the third quarter 2015 of $1.2 billion, or $2.55 diluted earnings per share. Third quarter 2015 EBITDA was approximately $2.0 billion.

Comparisons with the prior quarter and third quarter 2014 are available in the following table:

Table 1 - Earnings Summary

The third quarter included a $181 million non-cash, pre-tax lower of cost or market (LCM) inventory adjustment ($114 million after tax). Excluding the LCM adjustment, earnings from continuing operations during the third quarter totaled $1.3 billion, or $2.80 per share, and EBITDA was $2.2 billion.

“Our portfolio continued to demonstrate balance as third quarter EBITDA marked the fifth consecutive quarter of EBITDA in excess of $2 billion. From an industry standpoint, the third quarter was a transitional period during which markets rebalanced following tight second quarter supply and the price of crude oil declined. Despite this change, our portfolio continued to generate strong earnings as some product margins expanded while others contracted. During the third quarter, our Olefins and Polyolefins – Europe, Asia, International and Intermediates and Derivatives segments both achieved record EBITDA. In addition to continued earnings strength, cash generation remained strong and we repurchased 15.5 million shares, representing 3.3 percent of our outstanding shares,” said Bob Patel, LyondellBasell Chief Executive Officer.

OUTLOOK

“Thus far, the fourth quarter reflects a more balanced global ethylene industry. We entered the quarter with lower ethylene-polyethylene chain margins following third quarter market rebalancing and oil price decline. During the fourth quarter, we expect typical seasonal behavior to adversely impact the earnings of our oxyfuels, polyolefins, and refining businesses. Looking ahead to 2016, we continue to forecast stable industry demand and operating rates and believe that the markets for our products will tighten as we move into the spring,” Patel said.

LYONDELLBASELL BUSINESS RESULTS DISCUSSION BY REPORTING SEGMENT

LyondellBasell manages operations through five operating segments: 1) Olefins and Polyolefins – Americas; 2) Olefins and Polyolefins – Europe, Asia, International (EAI); 3) Intermediates and Derivatives; 4) Refining; and 5) Technology.

Comments and analysis represent underlying business activity and are exclusive of LCM inventory adjustments.

Olefins and Polyolefins - Americas (O&P-Americas) – The primary products of this segment include ethylene and its co-products (propylene, butadiene and benzene), polyethylene, polypropylene and Catalloy process resins.

Table 2 - O&P–Americas Financial Overview

Three months ended September 30, 2015 versus three months ended June 30, 2015 – EBITDA decreased $73 million versus the second quarter of 2015, excluding a $100 million quarter to quarter variance as a result of the LCM inventory adjustments. Olefins results decreased by approximately $140 million primarily due to a 6 cent per pound lower average ethylene price. Polyolefin results improved by approximately $70 million principally due to higher price spreads over monomer. Polyethylene and polypropylene spreads increased by 2 and 4 cents per pound, respectively. Joint venture equity income increased by $4 million.

Three months ended September 30, 2015 versus three months ended September 30, 2014 – EBITDA decreased by $282 million versus the third quarter 2014, excluding a $34 million quarter to quarter variance as a result of the LCM inventory adjustments. Olefins results decreased by $485 million primarily due to lower margins as a result of lower product prices. The price of ethylene decreased by approximately 26 cents per pound. This negative impact was partially offset by a lower cost of ethylene and higher volume from our La Porte ethylene plant expansion. Polyolefin results improved by approximately $195 million due to higher price spreads over monomer. Both polyethylene and polypropylene spreads improved by approximately 10 and 9 cents per pound, respectively. Joint venture equity income increased by $6 million.

Olefins and Polyolefins - Europe, Asia, International (O&P-EAI) – The primary products of this segment include ethylene and its co-products (propylene and butadiene), polyethylene, polypropylene, polypropylene compounds (global), Catalloy process resins and polybutene-1 resins.

Table 3 - O&P–EAI Financial Overview

Three months ended September 30, 2015 versus three months ended June 30, 2015 – EBITDA increased by $63 million versus the second quarter 2015, excluding a $6 million quarter to quarter variance as a result of the LCM inventory adjustments. Olefins results increased by $60 million primarily due to an approximately 9 cent per pound lower cost of ethylene production. Ethylene production was lower during the quarter as a result of planned maintenance at our Münchsmünster, Germany olefins plant. Combined polyolefin results increased by approximately $20 million. Improved polypropylene results offset a small decline in polyethylene results. Combined polypropylene compounds and polybutene-1 results decreased by approximately $10 million due in part to a seasonal volume decline. Equity income was unchanged.

Three months ended September 30, 2015 versus three months ended September 30, 2014 – EBITDA increased by $212 million versus the third quarter 2014, excluding a $6 million quarter to quarter variance as a result of the LCM inventory adjustments. Olefin results increased by approximately $80 million primarily due to higher ethylene margins. Combined polyolefin results increased by approximately $115 million. Spreads in polyethylene and polypropylene increased by approximately 6 and 3 cents per pound, respectively. Polyethylene volume increased approximately 2 percent. Combined polypropylene compounds and polybutene-1 results decreased by approximately $10 million. Equity income increased by $23 million.

Intermediates and Derivatives (I&D) – The primary products of this segment include propylene oxide (PO) and its co-products (styrene monomer, tertiary butyl alcohol (TBA), isobutylene and tertiary butyl hydroperoxide), and derivatives (propylene glycol, propylene glycol ethers and butanediol), acetyls (including methanol), ethanol, oxyfuels, and ethylene oxide and its derivatives.

Table 4 - I&D Financial Overview

Three months ended September 30, 2015 versus three months ended June 30, 2015 – EBITDA increased $23 million versus the second quarter 2015, excluding a $29 million quarter to quarter variance as a result of the LCM inventory adjustments. Propylene oxide and derivative results increased by approximately $30 million primarily due to higher margins. Intermediate chemical results increased by approximately $30 million due to increased styrene and C4 chemical results which more than offset lower acetyls results. Oxyfuels results decreased by approximately $30 million due to seasonally lower margins and lower sales volume. Equity income decreased by $1 million.

Three months ended September 30, 2015 versus three months ended September 30, 2014 – EBITDA increased by $123 million versus the third quarter 2014, excluding a $46 million quarter to quarter variance as a result of the LCM inventory adjustments. Propylene oxide and derivative results were relatively unchanged. Intermediate chemical results improved by approximately $130 million primarily from the strength in styrene margins and improved ethylene oxide and glycol results. Oxyfuels results were lower by approximately $10 million. Equity income was unchanged.

Refining – The primary products of this segment include gasoline, diesel fuel, heating oil, jet fuel, and petrochemical raw materials.

Table 5 - Refining Financial Overview

Three months ended September 30, 2015 versus three months ended June 30, 2015 – EBITDA decreased by $11 million versus the second quarter 2015, excluding a $55 million quarter to quarter variance as a result of the LCM inventory adjustments. Crude oil throughput decreased by 6,000 barrels per day to 249,000 barrels per day. The Maya 2-1-1 industry benchmark spread decreased by approximately $1 per barrel, averaging $22.77 per barrel. Secondary product price spreads improved partially offsetting the lower Maya 2-1-1 spread. The cost of RIN’s was lower by $6 million.

Three months ended September 30, 2015 versus three months ended September 30, 2014 – Versus the third quarter of 2014, EBITDA increased by $33 million, excluding a $50 million quarter to quarter variance as a result of the LCM inventory adjustments. Crude oil throughput decreased by 15,000 barrels per day. The Maya 2-1-1 spread decreased by approximately $2 per barrel, however the corresponding Houston refinery spread increased by approximately $1 per barrel as secondary product margins improved. The cost of RIN’s was lower by $8 million.

Technology – The principal products of the Technology segment include polyolefin catalysts and production process technology licenses and related services.

Table 6 - Technology Financial Overview

Three months ended September 30, 2015 versus three months ended June 30, 2015 – EBITDA decreased by $12 million due to lower licensing revenue.

Three months ended September 30, 2015 versus three months ended September 30, 2014 – EBITDA increased by $4 million.

Capital Spending and Cash Balances

Capital expenditures, including growth projects, maintenance turnarounds, catalyst and information technology-related expenditures, were $373 million during the third quarter 2015. Our cash and liquid investments balance was $3.5 billion at September 30, 2015. We repurchased 15.5 million of our shares outstanding during the third quarter of 2015, at a total cost of $1.3 billion. There were 453 million common shares outstanding as of September 30, 2015. The company paid dividends of $361 million during the third quarter of 2015.

CONFERENCE CALL

LyondellBasell will host a conference call October 23 at 11 a.m. ET. Participants on the call will include Chief Executive Officer Bob Patel, Senior Vice President - Strategic Planning and Transactions Sergey Vasnetsov, and Vice President of Investor Relations Doug Pike.

The toll-free dial-in number in the U.S. is 888-677-1826. A complete listing of toll-free numbers by country is available at www.lyb.com/teleconference for international callers. The pass code for all numbers is 4843334.

The slides and webcast that accompany the call will be available at http://www.lyb.com/earnings.

A replay of the call will be available from 2 p.m. ET October 23 until November 23 at 11:59 p.m. ET. The replay dial-in numbers are 800-856-2254 (U.S.) and +1 402-280-9961 (international). The pass code for each is 5671.

ABOUT LYONDELLBASELL

LyondellBasell (NYSE: LYB) is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell (www.lyb.com) manufactures products at 56 sites in 19 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.

FORWARD-LOOKING STATEMENTS

The statements in this release and the related teleconference relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, the business cyclicality of the chemical, polymers and refining industries; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; competitive product and pricing pressures; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); the supply/demand balances for our and our joint ventures’ products, and the related effects of industry production capacities and operating rates; our ability to achieve expected cost savings and other synergies; our ability to successfully execute projects and growth strategies; legal and environmental proceedings; tax rulings, consequences or proceedings; technological developments, and our ability to develop new products and process technologies; potential governmental regulatory actions; political unrest and terrorist acts; risks and uncertainties posed by international operations, including foreign currency fluctuations; and our ability to comply with debt covenants and service our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2014, which can be found at www.lyb.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov.

INFORMATION RELATED TO FINANCIAL MEASURES

This release makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. The non-GAAP measures we have presented include income from continuing operations excluding LCM, diluted earnings per share excluding LCM, EBITDA and EBITDA excluding LCM. LCM stands for “lower of cost or market,” which is an accounting rule consistent with GAAP related to the valuation of inventory. Our inventories are stated at the lower of

cost or market. Cost is determined using the last-in, first-out (“LIFO”) inventory valuation methodology, which means that the most recently incurred costs are charged to cost of sales and inventories are valued at the earliest acquisition costs. Market is determined based on an assessment of the current estimated replacement cost and selling price of the inventory. In periods where the market price of our inventory declines substantially, cost values of inventory may be higher than the market value, which results in us writing down the value of inventory to market value in accordance with the LCM rule, consistent with GAAP. This adjustment is somewhat unique to our 2010 company formation when all assets and liabilities were measured at fair value, our use of LIFO accounting, and the recent volatility in pricing for many of our raw material and finished goods inventories. We report our financial results in accordance with U.S. generally accepted accounting principles, but believe that certain non-GAAP financial measures, such as EBITDA and earnings and EBITDA excluding LCM, provide useful supplemental information to investors regarding the underlying business trends and performance of the company’s ongoing operations and are useful for period-over-period comparisons of such operations. Non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with GAAP.

EBITDA, as presented herein, may not be comparable to a similarly titled measure reported by other companies due to differences in the way the measure is calculated. We calculate EBITDA as income from continuing operations plus interest expense (net), provision for (benefit from) income taxes, and depreciation & amortization. EBITDA should not be considered an alternative to profit or operating profit for any period as an indicator of our performance, or as an alternative to operating cash flows as a measure of our liquidity. We have also presented financial information herein exclusive of adjustments for LCM.

Quantitative reconciliations of EBITDA to net income, the most comparable GAAP measure, are provided in Table 8 at the end of this release.

OTHER FINANCIAL MEASURE PRESENTATION NOTES

This release contains time sensitive information that is accurate only as of the time hereof. Information contained in this release is unaudited and subject to change. LyondellBasell undertakes no obligation to update the information presented herein except to the extent required by law.

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Source: LyondellBasell Industries

Table 7 - Reconciliation of Segment Information to Consolidated Financial Information ^(a)

Table 8 - EBITDA Calculation

Table 9 - Selected Segment Operating Information

Source: LYB and third party consultants

Note: Benchmark market prices for U.S. and Western Europe polyethylene and polypropylene reflect discounted prices. Volumes presented represent third party sales of selected key products.

Table 10 - Unaudited Income Statement Information

Table 11 - Charges (Benefits) Included in Income from Continuing Operations