Tag: CVR Energy

CVR Energy’s 2018 RIN compliance costs fell 76% on year

CVR Energy’s 2018 RIN compliance costs fell 76% on year

February 25, 2019 |

In Washington, Bloomberg reports that an SEC filing by Carl Icahn’s CVR Energy shows the company saved $189 million in RIN compliance costs last year on the back of extensive lobbying he did with the President to get the Renewable Fuels Standard changed to reduce RIN costs for small refiners. RIN prices have tumbled in […]

Read More

CVR Energy cuts RIN short position by more than half in Q3

CVR Energy cuts RIN short position by more than half in Q3

November 1, 2017 |

In New York state, Reuters reports that CVR Energy has cut its RIN short position to $127 million as of the end of Q3 from $280 at the end of Q2. With corn states so far winning the Renewable Fuel Standard battle against oil refiners, the Environmental Protection Agency has been forced to back down […]

Read More

CVR Energy boosts $6.4 million profit from RIN sales

CVR Energy boosts $6.4 million profit from RIN sales

May 1, 2017 |

In New York, CVR Energy booked a $6.4 million profit from RIN sales during Q1 compared to $43.1 million spent on buying RINs during the same period last year despite RINs costing about a third less this year at an average of 53 cents during the quarter. The company said in its quarterly guidance that […]

Read More

Carl Icahn’s CVR Energy found to have shorted RIN market in 2016

Carl Icahn’s CVR Energy found to have shorted RIN market in 2016

April 12, 2017 |

In Washington, presidential advisor Carl Icahn’s CVR Energy did in fact short the RIN market in 2016, selling RINs at an average of 77 cents and reaching highs of $1 while the credits it now needs for compliance are averaging 55 cents. Prices fell after President Trump won the election and then again when Icahn […]

Read More

Public Citizen files complaint with Congress against Icahn

Public Citizen files complaint with Congress against Icahn

March 9, 2017 |

In Washington, Icahn Enterprises, CVR Energy and their related affiliates appear to be in violation of the Lobbying Disclosure Act of 1995 (LDA), according to a complaint Public Citizen filed Wednesday with Congress. The complaint says there is no record of either entities’ past or current compliance with the LDA. Media reports also suggest that […]

Read More