CVR Energy looking to spin off its renewable division

In Oklahoma, Platts reports that CVR Energy is considering spinning off its renewables division, with the Wynnewood conversion to renewable diesel as the flagship. With the HO-BO spread closer to $2 per gallon rather than above $2.4 when the facility was first meant to start RD production in Q3 2020, start up is now expected by April 2022. The conversion at its Coffeyville, Kansas refinery to RD and SAF is also underway. The company says that by splitting them off from the rest of the company they could secure future financing for further development more easily.

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