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NuStar in early termination of PDVSA crude supply contract

Nov. 08, 2013 3:12 PM ETNuStar Energy L.P. Common Units (NS) StockNSBy: Carl Surran, SA News Editor2 Comments
  • 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.

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