Mirror Review
November 3, 2026
CVR Energy is nearing an agreement to acquire refineries from Marathon Petroleum in a transaction valued at more than $4 billion, according to a Reuters report published on November 3, 2026. The proposed CVR Energy Marathon refinery acquisition involves refinery assets, but the report does not identify the specific facilities or disclose final transaction terms and timing.
The CVR Energy Marathon refinery deal remains under negotiation, and the agreement could still fall through before the companies finalize the transaction. The reported information identifies CVR Energy as the prospective buyer and Marathon Petroleum as the seller.
What Is the CVR Energy Marathon Refinery Deal Worth?
The proposed CVR Energy Marathon refinery deal is valued at more than $4 billion, according to the report. CVR Energy is negotiating to acquire refinery assets from Marathon Petroleum, but the specific facilities and final terms remain undisclosed.
The reported Marathon Petroleum refinery sale has not been confirmed as completed. The currently reported details are:
| Deal detail | Available information |
| Prospective buyer | CVR Energy |
| Prospective seller | Marathon Petroleum |
| Reported transaction value | More than $4 billion |
| Assets under discussion | Refineries; specific facilities not disclosed |
| Transaction status | Reportedly nearing an agreement; not confirmed as completed |
| Financing structure | Not disclosed |
| Expected closing date | Not disclosed |
The final scope will depend on the assets included in a definitive agreement. The reported value of the Carl Icahn CVR Energy deal does not establish how many refineries are involved, their combined processing capacity, or the price allocated to each facility.
How Many Refineries Does CVR Energy Own?
CVR Energy operates two refineries, the Coffeyville refinery in Kansas and the Wynnewood refinery in Oklahoma. The company also operates petroleum marketing and nitrogen fertilizer businesses.
CVR Energy’s two existing Mid-Continent refineries have a combined nameplate capacity of 206,500 barrels per day, according to the company’s official refining overview.
If completed, the CVR Energy acquisition of Marathon refineries would add to the company’s existing refining portfolio. However, the facilities under consideration have not been identified, so their locations and processing capacity remain unknown.
What Role Does Carl Icahn Play in the CVR Energy Deal?
Carl Icahn and his affiliates owned approximately 71% of CVR Energy’s outstanding shares as of June 30, 2026, according to the company’s second-quarter 2026 SEC filing.
The proposed Carl Icahn Marathon refinery acquisition would take place through CVR Energy, the company in which Icahn holds a controlling stake. The reported transaction involves CVR Energy purchasing refinery assets from Marathon Petroleum, not Icahn making a direct personal acquisition.
Which Marathon Petroleum Refineries Could CVR Energy Acquire?
The specific Marathon Petroleum refineries involved in the proposed acquisition have not been identified in the available reporting. The reported Marathon refinery acquisition could involve multiple facilities, but their locations and processing capacities remain undisclosed.
The key details that remain unconfirmed include:
- Refinery locations: The specific Marathon Petroleum facilities involved have not been identified.
- Purchase terms: The reported value exceeds $4 billion, but the final price and asset allocation remain undisclosed.
- Financing: CVR Energy’s proposed funding structure has not been confirmed.
- Closing timeline: The companies have not disclosed a definitive completion date.
- Regulatory approvals: The applicable approval requirements and timeline have not been publicly detailed.
These details will help establish the final size and structure of the transaction.
When Could the CVR Energy Marathon Refinery Deal Close?
The CVR Energy Marathon refinery deal has not been confirmed as completed, and the closing date remains unknown. An announcement from CVR Energy or Marathon Petroleum would establish whether the companies have reached a definitive agreement.
Any official announcement would clarify the assets involved, purchase terms, financing, and expected closing timeline. Until then, the proposed acquisition remains subject to confirmation.
