CVR Energy, Inc. has entered into an agreement to acquire two refineries and the related marketing operations from Marathon Petroleum Corporation for an estimated base purchase price of USD 4.2 billion, plus net working capital. As part of the transaction, Trafigura US Holdings, Inc. will provide USD 800 million in financial support through a subscription for newly issued shares in CVR Energy.
2. Additional Transaction Details
According to the official announcements dated November 3, 2026, the acquisition includes:
- St. Paul Park Refinery, located in Minnesota, with a processing capacity of 105,000 barrels per day.
- Mandan Refinery, located in North Dakota, with a processing capacity of 72,000 barrels per day.
- Marketing operations, including a distribution network capable of supplying up to 590 branded retail fuel stations across the U.S. Midwest.
The transaction is expected to nearly double CVR Energy’s refining capacity. Closing is anticipated by the end of 2026, subject to regulatory approvals and customary closing conditions.
3. Reference Sources
- CVR Energy – Official Acquisition Announcement
- Trafigura – Announcement of USD 800 Million Investment
- Marathon Petroleum – Official Announcement Regarding the Divestiture of Assets
Financial clarification: The USD 4.2 billion figure represents the announced base purchase price. Net working capital is payable in addition and will be subject to purchase price adjustments. Accordingly, the USD 4.2 billion should not be presented as an all-inclusive transaction value.
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