- Full Time Employees
- 1,184
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
-
- IPO Date
- Nov 28, 2017
- Business
- NuStar Energy L.P. operates as a master limited partnership engaged in the transportation, storage, and marketing of crude oil, refined petroleum products, renewable fuels, anhydrous ammonia, and asphalt through an extensive network of pipelines, terminals, and storage facilities. The company provides pipeline transportation services across systems such as the Central West System in Texas, Oklahoma, Kansas, Colorado, and New Mexico; the East Pipeline from southern Kansas to North Dakota with extensions into Nebraska and Iowa; terminalling and storage services for petroleum products, specialty chemicals, and crude oil at 63 to 82 facilities with approximately 72 to 93 million barrels of capacity; and fuels marketing including asphalt refining with 104,000 barrels per day throughput. NuStar conducts operations in the United States, Canada, Mexico, the Netherlands Antilles including St. Eustatius, the Caribbean, the United Kingdom, and Nova Scotia, serving producers, refiners, marketers, and end-users; it maintains headquarters in San Antonio, Texas, where it was formed in 2001. In May 2024, Sunoco LP completed its $7.3 billion all-equity acquisition of NuStar, integrating its assets into Sunoco's expanded midstream infrastructure of over 14,000 miles of pipeline and 100 terminals while delisting NuStar's common units from the NYSE; Sunoco refinanced NuStar's Series A, B, and C preferred units, subordinated notes, and credit facilities, anticipating $150 million in synergies and over 10% accretion to distributable cash flow per unit by year three post-close. NuStar's 9.00% Series C Cumulative Redeemable Perpetual Preferred Units (NS-PC), with a $25 liquidation preference, continue to pay dividends as scheduled into 2025.