Yahoo Finance NuStar (NS) Announces Expansion of Albuquerque Pipeline
NuStar Energy, L.P. NS recently announced plans to expand the volume of its 293-mile refined products pipeline by 6000 barrels per day (BPD) that runs from the Panhandle, TX to Albuquerque, NM.
Further, the master limited partnership (MLP) intends to upgrade pump stations on a pipeline system, which it jointly owns with Phillips 66 Partners LP PSXP. The 17.2-million BPD Pipeline ships refined products from Amarillo, TX to Albuquerque.
This apart, the firm proposes to install bigger and more efficient electric pumps and a latest, cost-effective, diesel-driven pump. The set-up will lead to increased flow and lower emissions by removing two diesel-driven pump stations. The project is slated to conclude by the end of the first half of next year.
Per NuStar Energy president and CEO Brad Barron, the developments will now lead to sufficient supply of refined products including gasoline, jet fuel and diesel for the Albuquerque market with the shutdown of the Gallup refinery in New Mexico during 2020. He further added, “Working with Phillips 66 Partners, we are excited that we can provide this additional capacity for our shippers and the region while also achieving the environmental benefits this project provides”.
Company Profile & Price Performance
Headquartered in San Antonio, TX, NuStar Energy is a midstream energy service provider. It is a master limited partnership in the United States. The firm’s units have outperformed the industry in the year-to-date period. The stock has gained 36.5% compared with the 19.3% rise of its industry.
Zacks Rank & Key Picks
NuStar Energy currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space are Matador Resources Company MTDR and Denbury Inc. DEN, each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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