CVR ramps up renewable diesel production in Q1
CVR Energy Inc. is continuing to ramp up renewable diesel production at its Wynnewood refinery in Oklahoma. Total vegetable oil throughput during the first quarter was approximately 22.4 million gallons, up from 12.8 million gallons during the fourth quarter of last year, according to information released in the company’s first quarter financial report on May 1.
CVR Energy CEO David Lamp discussed the company’s renewable diesel operations during first quarter earnings call, held May 2.
According to Lamp, CVR Energy is completing the second planned catalyst change in the renewable diesel unit. The company expects to see significant improvements in renewable diesel yield with the new catalyst, he said. Total throughput for the renewables unit is expected to range from 15 million to 22 million gallons during the second quarter due to the planned catalyst change, according to CVR Energy Chief Financial Officer Dane Neumann.
Lamp also noted that construction on the feedstock pretreatment unit (PTU) is progressing. The PTU is currently expected to placed into service during the third quarter of this year. The addition of the PTU is expected to improve renewable diesel margins by approximately 30 percent, Lamp said.
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