Cvr Energy Inc
CVR Energy, Inc. and, unless the context otherwise requires, its subsidiaries
is a diversified holding company primarily engaged in the petroleum refining
and nitrogen fertilizer manufacturing industries through its holdings in CVR
Refining, LP ("CVR Refining" or the "Refining Partnership")
and CVR Partners, LP ("CVR Partners" or the "Nitrogen Fertilizer
Partnership"). The Refining Partnership is an independent petroleum refiner
and marketer of high value transportation fuels. The Nitrogen Fertilizer Partnership
produces and markets nitrogen fertilizers in the form of UAN and ammonia. We
own the general partner and approximately 66% and 34% respectively, of the outstanding
common units representing limited partner interests in each of the Refining
Partnership and the Nitrogen Fertilizer Partnership. CVR Energys common stock
is listed on the New York Stock Exchange ("NYSE") under the symbol
"CVI," the Refining Partnerships common units are listed on the NYSE
under the symbol "CVRR" and the Nitrogen Fertilizer Partnerships
common units are listed on the NYSE under the symbol "UAN." As of
December 31, 2016, Icahn Enterprises L.P. and its affiliates owned approximately
82% of our outstanding common stock.
We operate 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).
Throughout the remainder of this document, our business segments are referred
to as the "petroleum business" and the "nitrogen fertilizer business,"
respectively.
The petroleum business, operated by the Refining Partnership, includes a complex
full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated
capacity of 115,000 bpcd and a complex crude oil refinery in Wynnewood, Oklahoma
with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light
sour crude oil (within its rated capacity of 70,000 bpcd). The combined crude
capacity represents approximately 22% of the regions refining capacity. The
Coffeyville refinery located in southeast Kansas is approximately 100 miles
from Cushing, Oklahoma ("Cushing"), a major crude oil trading and
storage hub. The Wynnewood refinery is located approximately 65 miles south
of Oklahoma City, Oklahoma and approximately 130 miles from Cushing.
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. The principal products
are UAN and ammonia, and all products are sold on a wholesale basis. The Coffeyville
Fertilizer Facility includes a 1,300 ton-per-day capacity ammonia unit, a 3,000
ton-per-day capacity UAN unit and a gasifier complex having a capacity of 89
million standard cubic feet per day of hydrogen. The Coffeyville Fertilizer
Facility is the only nitrogen fertilizer plant in North America that utilizes
a pet coke gasification process to produce nitrogen fertilizer. The East Dubuque
Facility, which includes a 1,075 ton-per-day capacity ammonia unit and a 1,100
ton-per-day capacity UAN unit, has 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
Facilitys product sales are heavily weighted toward sales of ammonia and UAN.