A Brief History of CVR Energy, Inc. (CVI)

CVR Energy, Inc. (CVI) is an American petroleum refining and marketing company that was founded in 2007. Here is a brief overview of the key moments in the company's history:

• 2007: CVR Energy, Inc. was formed as a spin-off of Coffeyville Resources Refining & Marketing, LLC, a subsidiary of Coffeyville Resources, LLC.
• 2012: CVR Energy acquired majority ownership of CVR Partners, LP, a nitrogen fertilizer company, further diversifying its portfolio.
• 2017: Carl Icahn, a billionaire investor, acquired a significant stake in CVR Energy, Inc., becoming the company's majority shareholder. This move brought about changes in the company's management and operations.
• 2020: CVR Energy faced challenges due to the COVID-19 pandemic, which significantly impacted demand for petroleum products and led to a decrease in refining margins.
• 2021: CVR Energy announced plans to invest in renewable diesel production, signaling a shift towards cleaner energy technologies in line with global trends towards sustainability.

Who Owns CVR Energy, Inc. (CVI)

CVR Energy, Inc. (CVI) is a petroleum refining and marketing company based in Sugar Land, Texas. As of the latest available information, CVR Energy, Inc. is a publicly traded company listed on the New York Stock Exchange under the ticker symbol CVI.

The majority owner of CVR Energy, Inc. is Carl Icahn, a billionaire investor and businessman known for his activist investing strategies. Carl Icahn acquired a significant stake in CVR Energy in 2012 and has since been actively involved in the company's operations and decision-making processes.

Here are some key points about the ownership of CVR Energy, Inc.:

• Major Shareholder: Carl Icahn owns a substantial percentage of CVR Energy's outstanding shares, giving him significant influence over the company.
• Board Representation: As a major shareholder, Carl Icahn has appointed members to CVR Energy's board of directors, further solidifying his control over the company.
• Investment Strategies: Carl Icahn's involvement in CVR Energy is part of his broader investment portfolio, which includes holdings in various industries and sectors.

CVR Energy, Inc. (CVI) Mission Statement

CVR Energy, Inc. (CVI) is committed to being a leading energy company that operates in a safe, responsible, and environmentally conscious manner. Our mission is to provide superior returns to our shareholders while positively impacting the communities in which we operate.

• Safety: At CVR Energy, safety is our top priority. We are dedicated to ensuring the well-being of our employees, contractors, and the communities in which we operate.
• Responsibility: We believe in conducting our business with honesty, integrity, and transparency. We take responsibility for our actions and strive to make ethical decisions in all aspects of our operations.
• Environmental Consciousness: CVR Energy is committed to minimizing our environmental impact and continuously seeking ways to reduce emissions, conserve resources, and promote sustainability.
• Shareholder Value: We are dedicated to delivering superior returns to our shareholders through operational excellence, strategic investments, and responsible financial management.
• Community Engagement: CVR Energy is actively involved in the communities where we operate, supporting local organizations, initiatives, and causes that make a positive impact.

How CVR Energy, Inc. (CVI) Works

CVR Energy, Inc. is a diversified holding company primarily engaged in the petroleum refining and nitrogen fertilizer manufacturing industries. The company operates through two segments: Petroleum and Nitrogen Fertilizer.

• Petroleum: CVR Energy owns and operates two refineries located in Kansas and Oklahoma. These refineries have a combined processing capacity of approximately 206,000 barrels per day. The company refines crude oil into a variety of petroleum-based products, including gasoline, diesel fuel, jet fuel, and asphalt.
• Nitrogen Fertilizer: CVR Energy also owns a nitrogen fertilizer manufacturing facility in Oklahoma. The facility produces ammonia and urea ammonium nitrate (UAN) fertilizer products, which are used by farmers to increase crop yields. The company markets these products primarily in the United States.

As a holding company, CVR Energy oversees the operations of its subsidiaries, providing strategic direction and financial support. The company's goal is to maximize profitability and shareholder value through efficient operations and prudent capital allocation.

Overall, CVR Energy, Inc. plays a critical role in the energy and agricultural sectors, providing essential products to consumers and supporting economic growth and development.

How CVR Energy, Inc. (CVI) Makes Money

1. Refining Operations: CVR Energy primarily makes money through its refining operations. The company owns and operates petroleum refineries in Kansas and Oklahoma, where it processes crude oil into various refined petroleum products such as gasoline, diesel fuel, and jet fuel. These products are then sold to wholesalers, retailers, and other customers.

2. Midstream and Logistics: CVR Energy also generates revenue through its midstream and logistics segment. This includes transporting, storing, and marketing crude oil and refined products through pipelines, terminals, and storage tanks. By providing these services, the company earns fees and margins on the volumes of products handled.

3. Nitrogen Fertilizer Production: In addition to its energy-related operations, CVR Energy has a nitrogen fertilizer business through its subsidiary, CVR Partners, LP. The company produces and distributes ammonia and urea ammonium nitrate (UAN) fertilizers, which are used in agriculture. This segment contributes to the company's revenue diversification.

• Sale of Refined Products: CVR Energy sells its refined products to a wide range of customers, including wholesalers, retailers, airlines, and industrial users. The prices at which these products are sold can be influenced by market conditions, supply and demand dynamics, and fluctuations in crude oil prices.
• Transportation and Storage Fees: The company earns revenue by charging fees for the transportation, storage, and handling of crude oil and refined products through its midstream and logistics assets. These fees are typically based on volumes transported or stored.
• Fertilizer Sales: CVR Partners, LP sells its nitrogen fertilizers to agricultural customers, including farmers and distributors. The demand for these products can be impacted by factors such as crop prices, weather patterns, and government agricultural policies.