Boost for NuStar

NuStar Energy has reported first-quarter EBITDA of $96.8m, up from $92.9m in the same period last year. "Our storage and transportation segments continue to benefit from several internal growth projects completed in 2011," says Curt Anastasio, CEO/president of NuStar Energy LP. "Our storage segment benefited primarily from the third-quarter 2011 completion of a storage expansion project at our St James, Louisiana, terminal facility. Increased throughputs and new revenue streams from two Eagle Ford shale internal growth projects completed in the last half of 2011 contributed to improved results in our transportation segment."

Looking forward to the remainder of 2012, Anastasio adds: "We expect 2012 distributable cash flow and EBITDA results to be higher than 2011. NuStar's results for the remainder of this year should benefit from several additional internal growth projects completed in 2012. Storage segment EBITDA is expected to be $30m to $40m higher than 2011. This segment should benefit from last year's storage terminal expansion project plus the April 2012 completion of a unit train offloading facility project, both at our St James, Louisiana storage facility.”

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