CVR Energy Inc., Sugar Land, Tex., has designated Bank of America Merrill Lynch its financial advisor for a review of strategic alternatives, which might include sale of the company.
A subsidiary, CVR Refining LP, operates a 132,000-b/cd refinery at Coffeyville, Kan., and a 74,500-b/cd refinery at Wynnewood, Okla.
Another subsidiary, CVR Partners LP, has nitrogen fertilizer manufacturing facilities at Coffeyville and East Dubuque, Ill.
CVR Energy said it has sold its 1.5-million-bbl crude oil terminal and related assets at Cushing, Okla., to an affiliate of Plains All American Pipeline LP for $36 million.