Americas News
NuStar Energy Projecting Q2 Loss For Fuels Marketing Operations
Friday July 6, 2012
NuStar Energy L.P. (NuStar Energy) has said it is projecting a second quarter loss for its fuels marketing operations as fuel oil and bunker inventories had not been hedged for about two months in a declining commodity price market.
In addition, expected negative earnings before interest, taxes, depreciation and amortization (EBITDA) for its asphalt operations meant that overall, the company expected its EBITDA to be "significantly lower" than the $160 million it posted in the same period last year.
The company said in April that it was expecting FY 2012's EBITDA for its fuels marketing segment to be higher than 2011's results.
Fortune 500 listed NuStar Energy is based in San Antonio, Texas.
