All Posts from July 27, 2017

Supreme Court Extends Tank Deadline

Israel’s Supreme Court has agreed to extend the deadline for the emptying of the Haifa ammonia tank to Sept. 18 from July 31.

CVR Shaves 2Q Loss, Touts Operating Rates

CVR Partners LP reported a second-quarter net loss of $3.5 million ($.03 per common unit) on net sales of $97.9 million, down from a year-ago loss of $17 million ($0.15 per unit) and $119.8 million, respectively.

“The East Dubuque fertilizer facility continued to achieve high on-stream rates during the 2017 second quarter, with the ammonia plant posting a record on-stream rate of 100 percent,” said Mark Pytosh, CVR CEO. “The gasification and ammonia plants at our Coffeyville facility operated at on-stream rates above 98 percent, however, we experienced approximately 11 days of downtime in the UAN plant related to outages at Linde’s air separation facility.

“Nitrogen fertilizer pricing continues to be impacted by additional production, particularly in the United States. In the U.S., we saw a marked decrease in imported nitrogen product as the spring progressed,” Pytosh said. “The last of the large U.S. capacity expansions is expected to come online and enter production during the third quarter and trade flows have been adjusting to the new capacity. While the market completes this transition, we will continue to focus on operating our plants at high on-stream rates, maximizing our marketing and logistics efforts and prudently managing costs and capital spending.”