NUSTAR ANNOUNCES EARLY TERMINATION OF CRUDE SUPPLY CONTRACT WITH PDVSA EFFECTIVE 1/1/14
Posted On November 11, 2013
Significantly Reduces NuStar's Financial Liability by Eliminating Obligation to Purchase 30,000 Barrels per Day of PDVSA CrudeSAN ANTONIO, Nov. 8, 2013 NuStar Energy L.P. (NYSE: NS) announced today that it has come to a mutual agreement with Petroleos de Venezuela, S.A. (PDVSA) to terminate its crude oil supply agreement effective January 1, 2014, ahead of the original termination date of March 2015. NuStar signed the original agreement with PDVSA in 2008 to supply the two U.S. East Coast...
NuStar Energy L.P. Announces Closing of Sale of 50% of its Asphalt Operations to Lindsay Goldberg and Creation of Joint Venture
Posted On September 28, 2012
Transaction Deconsolidates Asphalt Operations, Reduces Earnings Volatility and Allows for Debt Reduction/ Investment in High-Return Pipeline and Terminal Assets NuStar Energy L.P. (NYSE: NS) today announced that it has closed on the sale of a 50% voting interest in its asphalt operations to an affiliate of Lindsay Goldberg LLC, a private investment firm. In conjunction with the sale, a joint venture was created that owns and operates NuStar's asphalt refining assets, including asphalt refineries located in Paulsboro, New Jersey and Savannah,...