CVR Energy: WRC sees 2020-2024 obligation cut by over 300m RINs

CVR Energy: WRC sees 2020-2024 obligation cut by over 300m RINs

On August 22, 2025, the Environmental Protection Agency (EPA) issued a decision document affirming the validity of Wynnewood Refining Company, LLC's (WRC) petitions for small refinery hardship relief under the Renewable Fuel Standard (RFS). This decision significantly impacts CVR Energy, Inc. (NYSE: CVI or “CVR Energy”) and its subsidiary, WRC.

The EPA granted 100 percent waivers for WRC’s 2019 and 2021 compliance periods and 50 percent waivers for its 2020, 2022, 2023, and 2024 compliance periods. As a result, WRC estimates its obligation for the 2020 through 2024 compliance periods could be reduced by more than 300 million renewable fuel credits, known as Renewable Identification Numbers (RINs). Additionally, WRC may receive previously retired RINs for the earlier compliance periods, which could further reduce its obligation by over 100 million RINs [1].

These reductions taken together could result in an estimated remaining 100 million RIN obligation for the pre-2025 compliance periods. CVR Energy is currently evaluating the decision document, its estimates, and WRC’s expected response, including impacts to the financial statements of WRC and CVR Energy.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements concerning current estimates, expectations, and projections about future prospects, opportunities, plans, actions, and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements” [1].

References:
[1] https://www.marketscreener.com/news/cvr-energy-provides-update-after-latest-u-s-epa-small-refinery-exemption-decision-ce7c50ddd88df52d