CVR Energy to revert renewable diesel unit in Wynnewood, Oklahoma, back to petroleum refining in December

CVR Energy said in its third-quarter earnings report that it plans to stop renewable diesel production at its Wynnewood, Oklahoma, refinery late this year due to “unfavorable economics of the renewables business and to optimize feedstock and relieve certain logistical constraints within the refining business.”

The company will revert the Wynnewood unit, capable of producing approximately 80 million gallons of renewable diesel per year, back to hydrocarbon processing during a scheduled catalyst change in December.

CVR reported third-quarter net losses for its renewables segment of $51 million and EBITDA loss of $15 million compared to net income of $3 million and EBITDA of $9 million for the third quarter of 2024.

Adjusted EBITDA loss for the renewables segment was $7 million for the third quarter of 2025, compared to adjusted EBITDA of $8 million for the third quarter of 2024.

Total vegetable-oil throughput for the third quarter was approximately 208,000 gallons per day (gpd) compared to approximately 214,000 gpd for the third quarter of 2024.

Factors contributing to the decrease in the third-quarter renewables margin compared to the prior period, according to the company, were a decrease in the heating oil-bean oil spread of 57 cents per gallon, a decrease of inventory net realizable value resulting in a write-down of $9 million in the third quarter and decreased production and sales volumes, partially offset by an increase in D4 renewable identification number (RIN) and California Low Carbon Fuel Standard credit prices and an increase in renewable diesel yield due to improved catalyst performance.

Meanwhile, the company’s petroleum segment for the third quarter raked in a net income of $520 million and EBITDA of $572 million, compared to net loss of $110 million and EBITDA loss of $75 million for the third quarter of 2024.

Adjusted EBITDA for the petroleum segment was $120 million for the third quarter compared to adjusted EBITDA of $24 million for the same period last year.

The company said it expects to maintain the option to switch back to renewable diesel service if incentivized to do so.

CVR has long indicated that it may switch its renewable diesel unit in Wynnewood back to petroleum refining if the economics were not favorable to the company.

CVR Energy also benefited handsomely—to the tune of nearly a half-billion dollars—from the U.S. EPA’s August decisions to grant numerous small-refinery exemptions.

“During the third quarter of 2025 we recognized a $488 million benefit from the August 2025 decision of the EPA in clearing years of undue RIN strain on our balance sheet, in addition to 97 percent crude utilization, higher cracks and an increased capture rate all contributing to third quarter 2025 EBITDA of $625 million,” said CEO Dave Lamp. “While the EPA’s August decision was not perfect, we appreciate the Trump administration recognizing the critical role small refineries like ours play in unleashing American energy. Of course, we will continue to fight for the full waivers Wynnewood Refining Company LLC deserves. With continued geopolitical tensions, the exorbitant replacement costs for refineries, steady global demand and declining supply as refinery closures are expected to outpace additions over the next five years, we should be well-positioned into the future.”