San Antonio-based publicly traded partnership,
NuStar Energy L.P.
) announced that it has entered into long-term lease contracts for
three of its Asphalt terminals - the ones that the company retained
after divesting its asphalt joint venture in Feb 2014.
NuStar Energy entered into a long-term contract with a subsidiary
of the integrated oil major
Royal Dutch Shell plc
) to lease storage at its Houston, TX terminal, effective from May
1. The terminal has storage space of 85,000 barrels and comprises
the Houston Ship Channel barge dock, two-bay truck loading and
offloading racks and a Polymer-Modified Asphalt (PMA) mill.
Moreover, NuStar Energy has entered into a 5-year contract with an
affiliate of the oil refining and marketing company,
) to lease storage space at its Rosario, NM and Catoosa, OK asphalt
The Catoosa contract came into effect on Apr 1, facilitating
HollyFrontier to supply PMA and Performance Graded (PG) asphalts to
the mid-continent. The terminal has storage space of 340,000
barrels, in addition to a barge dock, four-bay truck loading and
offloading racks, rail facilities, a lab and a PMA mill.
The Rosario contract will be effective from Jul 1. The terminal
offers 160,000 barrels of storage space, a two-bay truck loading
rack, rail facilities, warehouse storage and a PMA mill.
NuStar Energy engages in the transportation and storage of crude
oil as well as refined products in the U.S., the Netherlands
Antilles, Canada, Mexico, and the U.K. The company currently has a
Zacks Rank #3 (Hold), implying that it is expected to perform in
line with the broader U.S. equity market over the next one to three
Meanwhile, one can consider a better-ranked player from the
industry such as
Magellan Midstream Partners L.P.
). The partnership currently sports a Zacks Rank #1 (Strong
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