During the corresponding time, Cvr Refining, Lp recorded a revenue increase by 34 % year on year, sequentially revenue grew by 1.81 %. While revenue at the Cvr Refining, Lp's corporate clients
Cvr Refining Lp's Comment on Sales, Marketing and Customers
Customers for our refined petroleum products primarily include retailers, railroads
and farm cooperatives and other refiners/marketers in Group 3 of the PADD II region
because of their relative proximity to our refineries and pipeline access. We
sell bulk products to long-standing customers at spot market prices based on a
Group 3 basis differential to prices quoted on the New York Mercantile Exchange
("NYMEX"), which are reported by industry market-related indices such
as Platts and Oil Price Information Service.
We also have a rack marketing business supplying product through tanker trucks
directly to customers located in proximity to our Coffeyville and Wynnewood
refineries, as well as to customers located at throughput terminals on refined
products distribution systems run by Magellan and NuStar. Rack sales are at
posted prices that are influenced by competitor pricing and Group 3 spot market
differentials. Additionally, our Wynnewood refinery supplies jet fuel to the
U.S. Department of Defense. In addition, our Coffeyville refinery sells hydrogen
and a by-product of its refining operations, such as petroleum coke, to an affiliate,
CVR Partners, pursuant to separate multi-year agreements. Our largest customer
accounted for approximately 19% of our net sales while approximately 52% of
our net sales were made to our ten largest customers. While we do have a high
concentration of customers, we do not believe that the loss of any single customer
would have a material adverse impact on our results of operations, financial
condition and the ability to make cash distributions.
Cvr Refining Lp’s Comment on Sales, Marketing and Customers
Customers for our refined petroleum products primarily include retailers, railroads
and farm cooperatives and other refiners/marketers in Group 3 of the PADD II region
because of their relative proximity to our refineries and pipeline access. We
sell bulk products to long-standing customers at spot market prices based on a
Group 3 basis differential to prices quoted on the New York Mercantile Exchange
("NYMEX"), which are reported by industry market-related indices such
as Platts and Oil Price Information Service.
We also have a rack marketing business supplying product through tanker trucks
directly to customers located in proximity to our Coffeyville and Wynnewood
refineries, as well as to customers located at throughput terminals on refined
products distribution systems run by Magellan and NuStar. Rack sales are at
posted prices that are influenced by competitor pricing and Group 3 spot market
differentials. Additionally, our Wynnewood refinery supplies jet fuel to the
U.S. Department of Defense. In addition, our Coffeyville refinery sells hydrogen
and a by-product of its refining operations, such as petroleum coke, to an affiliate,
CVR Partners, pursuant to separate multi-year agreements. Our largest customer
accounted for approximately 19% of our net sales while approximately 52% of
our net sales were made to our ten largest customers. While we do have a high
concentration of customers, we do not believe that the loss of any single customer
would have a material adverse impact on our results of operations, financial
condition and the ability to make cash distributions.
Sources:
Cvr Refining, Lp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Cvr Refining, Lp’s corporate clients.
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