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Stock Market & Financial Investment News

News Breaks
October 26, 2012
06:26 EDTNSNuStar Energy downgraded to Underperform from Outperform at Credit Suisse
Credit Suisse downgraded NuStar based on deterioration in its asphalt and fuels marketing segment and concerns regarding distribution coverage. Price target lowered to $44 from $64.
News For NS From The Last 14 Days
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April 10, 2015
18:37 EDTNSNuStar Energy, PMI announce expansion of existing naphtha agreement
NuStar Energy L.P., and PMI, an affiliate of Petróleos Mexicanos, announced that the companies have expanded operations in which NuStar transports and stores naphtha, a gasoline blending component, for PMI. Under the terms of the 10-year agreement, which extends a previous 10-year agreement between the two companies that went into effect in 2005, naphtha produced at Pemex’s Reynosa-Burgos Complex in northern Mexico is transported via the NuStar Burgos-Valley pipeline system to NuStar’s terminal in Edinburg, Texas. From Edinburg, the naphtha is delivered into Transmontaigne’s terminal in Brownsville, Texas. NuStar invested in the construction of a new 50,000-barrel naphtha storage tank at the Edinburg Terminal to augment the project’s original 80,000-barrel storage capacity, to accommodate the additional grades and volumes of naphtha. The services under this revised agreement, which also includes a slight increase in throughput commitment from PMI, commenced on April 1. The agreement and related capital investment provides a more efficient, safe and economical method of delivery as it replaces truck deliveries that were moving the naphtha from Mexico to Brownsville.

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