NuStar Energy posts $60 million profit as record volumes of crude flow through Permian pipelines

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NuStar Energy posts $60 million profit as record volumes of crude flow through Permian pipelines
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The San Antonio pipeline and terminal operator sees volume growth continuing through the...

San Antonio-based pipeline and terminal operator NuStar Energy reported a profit in the third quarter as record volumes of crude moved through its Permian pipeline network.NuStar’s Permian system averaged throughput — the daily volume of fuel flowing through a pipeline — of 580,000 barrels of crude oil per day in the third quarter. It said Thursday it expects volume to increase in the current quarter.

Overall, the company’s nearly 10,000-mile-long pipeline network averaged throughput of 1.9 million barrels of refined and crude oil products each day. NuStar’s pipeline business generated $110 million in income on $209 million in revenue. On the West Coast, NuStar operates an extensive pipeline network delivering low-carbon fuels such as renewable diesel and ethanol. The company said revenues from the low-carbon fuels segment rose by 20 percent, though NuStar doesn’t detail how much revenue the West Coast operation generates.Your guide to the Texas and San Antonio races and candidates on the Nov. 8 ballot.

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