NuStar in early termination of PDVSA crude supply contract

|About: NuStar Energy L.P. (NS)|By:, SA News Editor

NuStar Energy (NS +2.6%) announces an early termination of its crude oil supply contract with Venezuela's PDVSA, effective Jan. 1 and ahead of the original March 2015 termination date.

NU says the move will significantly reduce its financial liability by eliminating the obligation to purchase 30K bbl/day of PDVSA crude.