Strong refined product pipeline throughput volumes along with lower operating expenses contributed to better than expected results for NuStar.
The company’s second quarter 2016 results surpassed its guidance expectations. The company reported that its EBITDA from continuing operations were $144.7 million.
Brad Barron, president and CEO, says: ‘Strong refined product pipeline throughput volumes, the benefit from 1.1 million barrels of storage leased at our Pine Point, Maryland facility, along with lower than expected operating expenses, contributed to our better than expected second quarter results.
‘What’s more significant is that we were able to report these solid results despite throughput revenues only slightly above contract minimums on our South Texas crude oil pipeline system.’