NuStar Energy

What NuStar Energy does

NuStar Energy operates one of the largest independent liquids terminal and pipeline networks in North America, comprising approximately 14,000 miles of pipeline spanning 16 states and over 160 owned and operated terminals across North America, Mexico, the Greater Caribbean, and Europe. The infrastructure transports crude oil, refined products, renewable fuels, ammonia, and specialty liquids under the NuStar Logistics LP published tariff structure, while the terminal network provides bulk-liquid storage, handling, throughput, transmix, and reclamation services. The company's integrated platform also includes branded and unbranded fuel distribution of more than 15 billion gallons annually to approximately 11,000 Sunoco and partner-branded retail locations, independent dealers, and commercial customers, plus wholesale refined-product supply from the Burnaby Refinery in British Columbia, which supplies a significant share of provincial gasoline, diesel, and jet fuel.

NuStar's revenue model combines recurring, tariff-based pipeline transportation fees (governed by NuStar Logistics LP), usage-based terminal storage and throughput fees, transaction-based fuel distribution revenues across multiple brand families (Sunoco, Peerless Oil & Chemicals, Aloha Petroleum, Sunoco Race Fuels), and wholesale refined-product sales from the Burnaby Refinery. The customer base spans enterprise pipeline shippers, refiners, fuel marketers, independent dealers, and end consumers, reached through a combination of direct enterprise sales, regulated tariffs, and a partner/dealer-led retail channel. Pricing is not publicly itemized; pipeline services follow the NuStar Logistics LP tariff schedule and multi-year contracts, while terminal services are priced per commercial contract on a monthly cadence.

In 2024–2025, NuStar was acquired by Sunoco LP (NYSE: SUN), a publicly traded master limited partnership sponsored by Energy Transfer, and consolidated into Sunoco LP's Pipeline Systems segment. Sunoco LP reported record full-year 2025 adjusted EBITDA of $2.12 billion, citing successful NuStar integration alongside parallel acquisitions of Parkland Corporation and TanQuid, with 2026 adjusted EBITDA guidance of $3.1–$3.3 billion and $125 million of expected first-year Parkland synergies. NuStar no longer operates as an independent public company; its pipeline logistics entity continues to publish tariffs under the NuStar Logistics LP name within the Sunoco LP corporate structure, and the parent platform's asset base grew from $6.85 billion in 2023 to $28.36 billion in 2025.

Name

NuStar Energy

Legal name

NuStar Logistics, L.P. (as referenced via URL slug 'nustar-logistics-lp-tariffs' on Sunoco LP website; full registered legal name of the NuStar Energy parent entity not explicitly stated in provided sources)

Website

https://nustarenergy.com

Company type

Public

Founded year

2001

Operating status

Acquired

Headcount range

5,001–10,000 employees

Short description

NuStar Energy operates approximately 14,000 miles of liquids pipeline and 160+ terminals across 32 countries, transporting crude, refined products, ammonia, and renewables under NuStar Logistics LP tariffs and distributing 15 billion gallons of fuel annually through the Sunoco, Peerless Oil, Aloha Petroleum, and Sunoco Race Fuels brand families.

Ownership category

akta.pro rank

Product category

Midstream Energy Infrastructure

NAICS

Pipeline Transportation of Refined Petroleum Products (486910), Pipeline Transportation of Crude Oil (4861), Petroleum Bulk Stations and Terminals (424710), Pipeline Transportation of Refined Petroleum Products (48691)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Oil & Gas Midstream & Pipeline O&M (Pipelines, Compressor Stations) (EUAEAGAF)

akta.pro secondary industries

Hazardous Liquids & Specialty Chemical Terminals (Methanol, Solvents, Sulfur) (EUALAEAL), NGL / LPG Storage & Terminals (Propane, Butane, Ethane, Y-Grade) (EUALAEAC), Gas Pipeline & Midstream Asset Management (EUAEAMAF), Underground Storage (Salt Caverns, Depleted Reservoirs) (EUALAEAE)

Keywords

• Pipeline transportation services
• Liquid bulk storage
• Midstream energy infrastructure
• Crude oil logistics
• Refined products distribution

Headquarters

HQ city

San Antonio

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Pipeline transportation tariffs: Recurring, tariff-based revenue from transporting crude oil, refined products, renewable fuels, ammonia, and specialty liquids across the 14,000-mile pipeline network. Includes the NuStar Logistics LP tariff structure for shippers.
2. Terminal storage and throughput fees: Storage, handling, and throughput fees generated from the 160+ owned and operated terminals across North America, Mexico, the Greater Caribbean, and Europe.
3. Fuel distribution (branded and unbranded): Revenue from distributing more than 15 billion gallons of branded and unbranded fuel annually to approximately 11,000 Sunoco and partner-branded retail locations, independent dealers, and commercial customers.
4. Refined product sales (Burnaby Refinery): Wholesale sales of gasoline, diesel, and jet fuel produced at the Burnaby Refinery to supply the British Columbia market.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

NuStar Energy operates midstream energy infrastructure including approximately 14,000 miles of multi-product pipeline across 16 states and 160+ bulk liquid storage terminals across North America, Mexico, the Greater Caribbean, and Europe. The company provides tariff-regulated pipeline transportation of crude oil, refined products, renewable fuels, ammonia, and specialty liquids under the NuStar Logistics LP tariff structure, along with terminal storage, throughput, and transmix/reclamation services. Following Sunoco LP's acquisition during 2024-2025, NuStar's assets are administered within Sunoco LP's Pipeline Systems segment, complemented by the Burnaby Refinery in British Columbia and integration with Sunoco LP's branded fuel distribution network.

Product overview

NuStar Energy was a pipeline and terminal storage operator whose assets were acquired by Sunoco LP. In the provided source material, NuStar appears only as a legacy entity integrated into Sunoco LP's Pipeline Systems segment, with a NuStar Logistics LP Tariffs page listed on the Sunoco LP website. No standalone NuStar product portfolio, modules, or branded offerings are described in the supplied sources.

Differentiator

Problem solved

Functional benefit

Products and services

• Pipeline Transportation Services Tariff-regulated, multi-product pipeline transportation of crude oil, refined products, renewable fuels, ammonia, and specialty liquids across an approximately 14,000-mile pipeline network spanning 16 states, marketed to producers, refiners, marketers, and industrial users under the NuStar Logistics LP tariff structure.
• Terminal Storage and Throughput Services Bulk liquid storage, handling, and throughput services at 160+ owned and operated terminals across North America, Mexico, the Greater Caribbean, and Europe, provided to refiners, marketers, and traders on a contract basis.
• Transmix and Reclamation Services Specialty terminal services for processing transmix and reclaiming refined products, delivered through the terminal network to refiners, marketers, and traders.
• Burnaby Refinery Operations Wholesale production and supply of gasoline, diesel, and jet fuel from the owned and operated Burnaby Refinery in British Columbia, supplying a significant share of the province's fuel demand.

Quantifiable outcome

• Distributes over 15 billion gallons of fuel annually to approximately 11,000 retail locations
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• Sunoco LPflagshipStrategic or Co-development PartnerNuStar was acquired by Sunoco LP and is now fully integrated into Sunoco LP's Pipeline Systems segment, contributing to record adjusted EBITDA of $2.12 billion in 2025 and informing 2026 EBITDA guidance of $3.1–$3.3 billion. NuStar Logistics LP continues to operate as the tariff-regulated pipeline entity within the Sunoco LP corporate structure, with pipeline tariffs published at the 'NuStar Logistics LP Tariffs' page.
• Energy TransferflagshipStrategic or Co-development PartnerEnergy Transfer is the parent/sponsor of Sunoco LP and is linked from the Sunoco LP corporate website footer. As the ultimate parent of the NuStar-containing platform, Energy Transfer provides corporate, capital, and operational support across the enterprise.
• Parkland CorporationcoreStrategic or Co-development PartnerParkland was acquired by Sunoco LP alongside NuStar as part of an aggressive acquisition strategy that grew assets from $6.85 billion in 2023 to $28.36 billion in 2025. The integration of Parkland is expected to deliver $125 million in synergies within the first year and supports 2026 EBITDA guidance of $3.1–$3.3 billion.
• TanQuidcoreStrategic or Co-development PartnerTanQuid was acquired by Sunoco LP alongside NuStar and Parkland as part of an aggressive acquisition strategy that diversified operational segments and significantly increased projected Adjusted EBITDA to between $3.1 billion and $3.3 billion by 2026.
• AGA Khan FoundationminorGTM or Marketing PartnerSunoco LP is a proud Transformational Sponsor of the AGA Khan Foundation. The foundation logo is featured on the Sunoco LP homepage as a corporate social responsibility/brand alignment partnership.
• Aloha PetroleumcoreChannel Partner/ Reseller/ DistributorAloha Petroleum is one of the four featured global brands under Sunoco LP, providing commercial fuel solutions across Hawaii with 60+ years of experience in bulk fuel delivery, on-site fueling, lubricants, and DEF.
• Peerless Oil & ChemicalscoreChannel Partner/ Reseller/ DistributorPeerless Oil & Chemicals, in operation since 1958, is a featured Sunoco LP global brand serving Puerto Rico as one of the Caribbean's most trusted fuel providers.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kinder Morgan: Largest U.S. operator of refined products pipelines and one of the largest natural gas midstream players, with significant terminal assets. Comparable to NuStar on tariff-regulated refined product transportation and terminal throughput scale.
• Enterprise Products Partners: One of the largest U.S. midstream energy companies with an extensive crude oil, refined products, NGL, and petrochemical pipeline and terminal network. Directly comparable to NuStar's integrated pipeline/terminal business across similar products and U.S. geographies.
• HF Sinclair (HollyFrontier): U.S. refining and midstream company with pipeline, terminal, and refined products distribution operations. Comparable to NuStar's integrated midstream/downstream model and to its refining presence (Burnaby) on a smaller scale.
• Buckeye Partners: Operates a refined products pipeline network and one of the largest independent liquid petroleum gas terminal networks in the U.S. Directly comparable to NuStar on refined products pipelines and bulk liquid storage.
• Plains All American Pipeline: Major North American midstream operator with a large crude oil pipeline network and significant terminal/storage assets. Directly comparable to NuStar on the crude transportation side of the business and on U.S. geographic concentration.
• Magellan Midstream Partners: Operates a long-haul refined products and crude oil pipeline system plus extensive terminal storage across the U.S. Closest direct peer to NuStar's refined products pipeline and terminal franchise, with similar tariff-based revenue model.

Emerging players

• Targa Resources: Primarily an NGL-focused midstream operator with growing crude and refined products logistics exposure. Comparable to NuStar on multi-product pipeline/terminal operations, though with a different product mix centered on NGLs.

Broad incumbents

• Energy Transfer: Ultimate parent of Sunoco LP and therefore of NuStar; operates one of the largest and most diversified midstream energy networks in the U.S. Highly comparable platform overlap with NuStar's pipeline and terminal scope, but as a much broader multi-product midstream incumbent.
• Marathon Petroleum: One of the largest U.S. refiners with significant midstream and retail marketing operations. Comparable to NuStar's downstream fuel distribution platform and refinery-linked logistics, with similar customer mix across retail and commercial accounts.
• Phillips 66: Integrated refiner and marketer with substantial midstream and fuel distribution assets. Comparable to NuStar's combined pipeline, terminal, and downstream fuel distribution footprint, though operated as part of a larger refining-led enterprise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/NuStarEnergyLP
• LinkedInlinkedin.com/company/nustar-energy-l-p-

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NuStar Energy