NuStar Energy announces early termination of crude supply contract

NuStar Energy announced that it has come to a mutual agreement with Petroleos de Venezuela, S.A. to terminate its crude oil supply agreement effective January 1, 2014, ahead of the original termination date of March 2015. "This is great news for NuStar as the early termination of the contract will significantly decrease NuStar’s financial liability as the company will no longer be contractually obligated to purchase 30,000 barrels per day of the Venezuelan crude," said NuStar CEO Curt Anastasio.

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