The intermeshing counterrotating twin screw extruder is widely used for compounding, devolatilization, blending, and reactive extrusion. A fluid dynamics analysis package-FIDAP, using the finite element method, was implemented to simulate the 3-D flow patterns in the region of conveying elements and shearing discs of a Leistritz LSM30.34 twin screw extruder. The rheological behavior of the fluid was described by a power law model. The flow fields were characterized in terms of velocity profiles, pressure distributions, shear stresses generated, and a parameter lambda quantifying the elongational flow components. The influence of screw rotational speed and axial pressure difference on the flow characteristics was also analyzed. A comparison between the flow characteristics in the shearing discs operated in a corotating or counterrotating mode was also presented.