Refiner CVR Energy says 2Q throughput to fall 8% in wake of fire

Reuters05-15

May 14 (Reuters) - Carl Icahn-controlled oil refiner CVR Energy on Tuesday said second quarter petroleum throughout would fall about 8% in the wake of an April 28 fire at its Wynnewood, Oklahoma, refinery.

Total throughout this quarter will be between 170,000 and 190,000 barrels per day (bpd), down about 8% at the midpoint compared to 196,000 in the first quarter. Capital expenses for petroleum operations will range between $35 million and $50 million, from $42 million in the first quarter, it said in a statement.

Fire damages at the 74,500 bpd facility were confined to pipe racks and pumps in the area of the naphtha processing units that impacted service to other units. One crude unit, the fluid catalytic cracker, and the alkylation unit have been restarted and a reformer is in the process of starting up, it said.

CVR expects operations to return to normal by the end of June with the fire not currently expected to have a material impact on operations, the company said.

Shares were 1.2% higher at $28.89 on Tuesday.

(Reporting by Gary McWilliams)

((Gary.McWilliams@thomsonreuters.com; +1 469-691-7668;))

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