CVR Energy, which said it would focus on renewable fuels and is no longer interested in acquiring crude oil refineries, has announced it will delay plans to complete a conversion project to enable renewable diesel production.
The company revealed recently it was about to complete the process design and the ordering of long-lead equipment for a feed pretreater for the Wynnewood refinery to lower carbon intensity and feed cost.
But the plans at the plant Oklahoma has been put back due to high feedstock prices.
“Construction on the Wynnewood renewable diesel unit has been progressing as planned,” said David Lamp, CEO of CVR Energy.
“We have reached a point where we are ready to bring the hydrocracker down to complete the final steps of the conversion process.
“However, renewable diesel feedstock prices have increased considerably - particularly for refined, bleached and deodorized soybean oil—to a level where the economics do not make sense for use to complete the conversion at this time.”
He said the company was ready to take down the unit to complete the conversion in September, but added that the “economics must be favourable based on available feedstocks before we proceed”.
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