COFFEYVILLE, Kan., March 6, 2012 /PRNewswire/ -- Coffeyville Resources Refining & Marketing, LLC (CRRM), a subsidiary of CVR Energy, Inc. (NYSE: CVI) said today that it has entered into a consent decree with the United States Environmental Protection Agency (EPA) and the Kansas Department of Health and Environment (KDHE) under which it will spend $12 million over the next five years to reduce emissions of SO2 (sulfur dioxides) and NOx (nitrous oxides).
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The new consent decree will replace a 2004 consent decree that the company entered into when it acquired the refinery out of bankruptcy from Farmland Industries, Inc. Under the 2004 consent decree, CRRM agreed to install controls and make operational changes to remedy alleged Clean Air Act violations by Farmland. This new agreement is incremental to the 2004 settlement and satisfies EPA's National Petroleum Refinery Initiative. EPA has already reached settlements with companies representing more than 90 percent of the U.S. petroleum refining capacity
As part of the agreement, the company will perform an environmentally beneficial project to reduce air emissions from its wastewater treatment system while simultaneously conserving water by increasing recycling, thereby reducing its draw from the Verdigris River by as much as 15 million gallons per year.
"Coffeyville Resources remains committed to operating its facilities in a manner that meets or exceeds environmental regulations," said Robert W. Haugen, executive vice president of refining operations at CVR Energy. "During the past five years, we have invested more than $550 million in projects to streamline and modernize our operations and improve our environmental footprint at Coffeyville.
"With these latest capital commitments, our facility will reach state of the art in environmental controls and operate as an equal to any facility in the nation."
About CVR Energy, Inc.
Headquartered in Sugar Land, Texas, CVR Energy, Inc.'s subsidiary and affiliated businesses operate independent refining assets in Coffeyville, Kan., and Wynnewood, Okla., with more than 185,000 barrels per day of processing capacity, a marketing network for supplying high value transportation fuels to customers through tanker trucks and pipeline terminals, and a crude oil gathering system serving central Kansas, Oklahoma, western Missouri, southwest Nebraska and Texas. In addition, CVR Energy subsidiaries own a majority interest in and serve as the general partner of CVR Partners, LP, a producer of ammonia and urea ammonium nitrate, or UAN, fertilizers.
For further information, please contact:
Investor Relations:
Ed Morgan
CVR Energy, Inc.
281-207-3388
Jay Finks
CVR Energy, Inc.
281-207-3588
InvestorRelations@CVREnergy.com
Media Relations:
Steve Eames
CVR Energy, Inc.
281-207-3550
MediaRelations@CVREnergy.com
SOURCE CVR Energy, Inc.
