-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001181431-07-015683.txt : 20070301
<SEC-HEADER>0001181431-07-015683.hdr.sgml : 20070301
<ACCEPTANCE-DATETIME>20070301113438
ACCESSION NUMBER:		0001181431-07-015683
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070227
FILED AS OF DATE:		20070301
DATE AS OF CHANGE:		20070301

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BAYER JAMES W
		CENTRAL INDEX KEY:			0001220730

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10145
		FILM NUMBER:		07661247

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		7136527280

	MAIL ADDRESS:	
		STREET 1:		1221 MCKINNEY ST.,
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LYONDELL CHEMICAL CO
		CENTRAL INDEX KEY:			0000842635
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				954160558
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1221 MCKINNEY ST
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010
		BUSINESS PHONE:		713-652-7200

	MAIL ADDRESS:	
		STREET 1:		1221 MCKINNEY ST
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LYONDELL PETROCHEMICAL CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd149091.xml
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        <issuerName>LYONDELL CHEMICAL CO</issuerName>
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            <rptOwnerName>BAYER JAMES W</rptOwnerName>
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            <officerTitle>Senior Vice President</officerTitle>
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            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2007-02-27</value>
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                <transactionCode>S</transactionCode>
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            <transactionAmounts>
                <transactionShares>
                    <value>9200</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
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            <exerciseDate>
                <footnoteId id="F1"/>
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            <expirationDate>
                <value>2009-02-24</value>
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            <securityTitle>
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                <value>16.25</value>
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                <value>2007-02-27</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>75588</value>
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                <transactionPricePerShare>
                    <value>16.25</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
                <footnoteId id="F2"/>
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            <expirationDate>
                <value>2011-02-01</value>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>75588</value>
                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.80</value>
            </conversionOrExercisePrice>
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                <value>2007-02-27</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>76580</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.80</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F3"/>
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            <expirationDate>
                <value>2012-02-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
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                    <value>76580</value>
                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
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    <footnotes>
        <footnote id="F1">1/3 of the award vested on February 24, 2000, 1/3 of the award vested on February 24, 2001 and 1/3 of the award vested on February 24, 2002.</footnote>
        <footnote id="F2">1/3 of the award vested on February 1, 2002 and 2/3 of the award vested on August 21, 2002 in connection with Lyondell's purchase of Occidental Petroleum Corporation's interest in Equistar Chemicals, LP.</footnote>
        <footnote id="F3">1/3 of the award vested on February 8, 2003, 1/3 of the award vested on February 8, 2004 and 1/3 of the award vested on December 1, 2004 in connection with the acquisition of Millennium Chemicals Inc.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ KERRY A. GALVIN as Attorney In Fact for James W. Bayer</signatureName>
        <signatureDate>2007-02-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
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-----END PRIVACY-ENHANCED MESSAGE-----