NuStar Energy in bunker fuel marketing agreement

NuStar Energy (NS +0.7%) signs a fuel oil supply agreement with a "major" fuel oil trading company enabling NS to purchase bunker fuel supply to fulfill customer needs in St. Eustatius and the Caribbean.

NU says the agreement will help reduce working capital tied to inventory by $40M-$50M, reduce exposure to price volatility and hedge ineffectiveness, and better manage operating expenses.

Comments (2)
  • Claude Badly
    , contributor
    Comments (3) | Send Message
    NuStar "management" keeps saying they've closed the door on the bunker fuel money loser. And they keep losing more and more money this way. Its one of the major reasons they've been downgraded over and over.


    When will someone in the organization be held to account for this perennial loser? How much failure is enough for NuStar?
    23 Aug 2013, 04:28 PM Reply Like
  • toomuchgas
    , contributor
    Comments (1019) | Send Message
    It is unusual when a company won't name the company they did a deal with. When they file with the SEC they'll have to say anyway.
    23 Aug 2013, 06:25 PM Reply Like
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