NuStar buys refinery near Eagle Ford play

By OGJ editors
HOUSTON, Apr. 20
-- NuStar Energy LP, San Antonio, has closed the purchase of a small San Antonio refinery in a deal linked to the nearby Eagle Ford shale play.

NuStar bought the 14,500-b/d refinery from AGE Refining, which entered bankruptcy in February 2010, for $41 million.

NuStar operates 8,417 miles of crude and product pipeline in the US, two US asphalt refineries, and terminals and storage operations in the US, Canada, Mexico, the UK, the Netherlands, and Turkey.

“The refinery’s proximity to the Eagle Ford shale is big plus,” said Curt Anastasio, president and chief executive officer of NuStar. He said light crude from the shale play “is well-suited to the refinery, and it is in our backyard so our transportation costs are low.”

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