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Profile: CVR Energy Inc (CVI.N)

CVI.N on New York Stock Exchange

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26 May 2017
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CVR Energy, Inc. (CVR Energy), incorporated on September 25, 2006, is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership). The Company's Refining Partnership is an independent petroleum refiner and marketer of transportation fuels. Its Nitrogen Fertilizer Partnership produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. The petroleum business consists of a coking medium-sour crude oil refinery in Coffeyville, Kansas and a crude oil refinery in Wynnewood, Oklahoma. The nitrogen fertilizer business primarily markets the UAN products to agricultural customers and the ammonia products to agricultural and industrial customers.

Petroleum Business

As of December 31, 2016, the petroleum business, operated by the Refining Partnership, included a complex full coking medium-sour crude oil refinery with a rated capacity of 115,000 barrels per calendar day (bpcd) and a complex crude oil refinery with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light sour crude oil (within its rated capacity of over 70,000 bpcd). As of December 31, 2016, the combined crude capacity represented approximately 22% of the region's refining capacity. Its Coffeyville refinery's product yield include gasoline, diesel fuel (primarily ultra-low sulfur diesel), and pet coke and other refined products, such as natural gas liquids (NGL) (propane and butane), slurry, sulfur and gas oil. The Wynnewood refinery's product yield included gasoline, diesel fuel (primarily ultra-low sulfur diesel), asphalt, jet fuel and other products.

The petroleum business also includes auxiliary operating assets, including Crude Oil Gathering System, Pipelines and Storage Tanks and Marketing and Product Supply. The petroleum business owns and operates a crude oil gathering system serving Kansas, Nebraska, Oklahoma, Missouri, Colorado and Texas. The system has field offices in Bartlesville and Pauls Valley, Oklahoma and Plainville, Winfield, Kansas and Denver, Colorado. As of December 31, 2016, the petroleum business owned a pipeline system capable of transporting approximately 170,000 barrels per day (bpd) of crude oil from its Broome Station facility located near Caney, Kansas to its Coffeyville refinery. Crude oils sourced outside of the gathering system are delivered by common carrier pipelines into various terminals in Cushing, where they are blended and then delivered to the Broome Station tank farm via a pipeline owned by Plains Pipeline L.P. (Plains). The petroleum business also has a rack marketing division supplying product through tanker trucks directly to customers located in close geographic proximity to Coffeyville, Kansas and Wynnewood, Oklahoma and to customers at throughput terminals on Magellan Midstream Partners, L.P. (Magellan) and NuStar Energy, LP's (NuStar) refined products distribution systems. The Coffeyville refinery has the capability to process blends of various crude oil ranging from heavy sour to light sweet crude oil. The Wynnewood refinery has the capability to process blends of various crude oil ranging from medium sour to light sweet crude oil, although isobutane, gasoline components, and normal butane are also typically used.

The Company competes with Phillips 66, HollyFrontier, CHS, Valero and Flint Hills Resources.

Nitrogen Fertilizer Business

The nitrogen fertilizer business, operated by the Nitrogen Fertilizer Partnership, consists of two nitrogen fertilizer manufacturing facilities, which are located in Coffeyville, Kansas and East Dubuque, Illinois. The nitrogen fertilizer business produces and distributes nitrogen fertilizer products, which are used primarily by farmers to improve the yield and quality of their crops. As of December 31, 2016, the nitrogen fertilizer facility included a 1,300 ton-per-day ammonia unit, a 3,000 ton-per-day UAN unit and a gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen. The nitrogen fertilizer business' principal products are UAN and ammonia. The Coffeyville Fertilizer Facility is the only nitrogen fertilizer plant in North America that utilizes a pet coke gasification process to produce nitrogen fertilizer. As of December 31, 2016, the East Dubuque Facility, which included a 1,075 ton-per-day capacity ammonia unit and a 1,100 ton-per-day capacity UAN unit, had the flexibility to vary its product mix enabling the East Dubuque Facility to upgrade a portion of its ammonia production into varying amounts of UAN, nitric acid and liquid and granulated urea each season, depending on market demand, pricing and storage availability. The East Dubuque Facility's product sales are heavily weighted toward sales of ammonia and UAN. The primary geographic markets for the nitrogen fertilizer business' fertilizer products are Illinois, Kansas, Nebraska, Iowa and Texas. The nitrogen fertilizer business primarily markets the UAN products to agricultural customers and the ammonia products to agricultural and industrial customers.

The Company competes with Agrium, Inc., Koch Nitrogen Company, LLC, Saskatchewan, Inc., CF Industries Holdings, Inc.

Company Address

CVR Energy Inc

2277 Plaza Dr Ste 500
SUGAR LAND   TX   77479-6602
P: +1281.2073200
F: +1302.6555049

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