CVR Energy Inc - Company Profile
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Business Description
CVR Energy Inc (CVR Energy) carries out the refining of crude oil and manufacturing of nitrogen fertilizer. It is involved in petroleum refining and marketing business through its interest in CVR Refining and nitrogen fertilizer manufacturing business through its interest in CVR Partners. The company operates through three reportable business segments, Petroleum, Renewables and Nitrogen Fertilizer. Other include renewable fuels activities, intercompany eliminations, corporate cash and cash equivalents, income tax activities, and other corporate functions. In FY2024, the company’s capital expenditure stood at US$181 million, which decreased 8.1% YoY.
Business Segments
Overview
Includes two nitrogen fertilizer production facilities in Coffeyville, Kansas and East Dubuque, Illinois. Major products include urea-ammonium nitrate (UAN), ammonia and other Urea-based products. Facilities include ammonia units, UAN units and a gasifier complex. In FY2024, the segment incurred a capital expenditure of US$37 million, which grew 27.6% YoY.
Performance
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Overview
Includes assets and operations of CVR refining and logistic assets. Operates two refineries in Coffeyville, a coking, medium-sour crude oil facility in Kansas. and Wynnewood, a complex crude oil facility of light sour crude oil. Major operations of the refineries include fractionation, catalytic cracking, hydrotreating, reforming, coking, isomerization of crude, alkylation, sulfur recovery, hydrocracking, propane and butane recovery units. Includes two crude oil distillation units, two vacuum towers, two sulfur recovery units, and five hydrotreating units. In FY2024, the segment incurred a capital expenditure of US$128 million, which grew 18.5% YoY.
Performance
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Overview
Focuses on refining renewable feedstocks, such as soybean oil and corn oil, into renewable diesel. It serves the renewable fuels industry. The segment operates primarily at the Wynnewood Refinery in Oklahoma. The Wynnewood refinery comprises of renewable diesel unit (RDU) and renewable feedstock pretreater (PTU). Purchases feedstock for renewable diesel production in connection with a third-party supply agreement under which the third-party is responsible for the procurement and delivery of feedstock to the Wynnewood Renewable Facility. Produced products at the Wynnewood Renewable Facility are sold through third-party offtake agreements. In FY2024, the segment incurred a capital expenditure of US$11 million, which declined 80.4% YoY.
Performance
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