NuStar Energy L.P. is a Fortune 500

Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

 company based in San Antonio

San Antonio, Texas

San Antonio is the seventh-largest city in the United States of America and the second-largest city within the state of Texas, with a population of 1.33 million. Located in the American Southwest and the south–central part of Texas, the city serves as the seat of Bexar County. In 2011,...

, Texas

Texas

Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...

. The company was established in 2007 after separating from Valero. The company operates 9113 miles (14,665.9 km) of pipeline and 85 terminal facilities across six countries allowing for the storage of almost 80 million barrels of oil making NuStar the second largest independent liquids terminal operator in the world.

In November 2007 the company announced that it would purchase CITGO

Citgo

CITGO Petroleum Corporation is a United States-incorporated, Venezuela-owned refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de...

Asphalt Refining Co. for $450 million. This move makes NuStar the largest asphalt refiner on the East coast.