SAN ANTONIO--(BUSINESS WIRE)--Mar. 16, 2018--
NuStar Energy L.P. (NYSE: NS) announced today that yesterday’s decision
by the Federal Energy Regulatory Commission (“FERC”) to revise its 2005
Policy Statement for Recovery of Income Tax costs is not expected to
have a material impact on the earnings or cash flow of NuStar Energy.
“While we were disappointed by the FERC’s announcement that it no longer
will allow interstate pipelines owned by master limited partnerships to
recover an income tax allowance in the cost of service, it is important
to note that the FERC’s decision is not expected to have a material
impact on NuStar because the vast majority of our rates are
contract-based or market-based,” said Brad Barron, president and CEO of
“We believe that FERC’s action is inconsistent with the intended tax
treatment of master limited partnerships, essentially negating the
intent of Congress,” Barron added. “We intend to work closely with our
industry colleagues on legislative clarification of income-tax recovery.
MLPs continue to serve as an important mechanism to build energy
About NuStar Energy L.P.
NuStar Energy L.P., a publicly traded master limited partnership based
in San Antonio, is one of the largest independent liquids terminal and
pipeline operators in the nation. NuStar currently has more than 9,400
miles of pipeline and 81 terminal and storage facilities that store and
distribute crude oil, refined products and specialty liquids. The
partnership’s combined system has more than 96 million barrels of
storage capacity, and NuStar has operations in the United States,
Canada, Mexico, the Netherlands, including St. Eustatius in the
Caribbean, and the United Kingdom. For more information, visit NuStar
Energy L.P.’s website at www.nustarenergy.com.
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Source: NuStar Energy L.P.
NuStar Energy L.P.
Mary Rose Brown, 210-918-2314
Chris Russell, 210-918-3507