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Exhibit 99.01 NuStar Energy L.P. Reports Solid First Quarter of 2021 Earnings Results Refined Product Systems Expected to Perform at 100 % of Pre - Pandemic Run Rate for Remainder of 2021 Permian Crude System Volumes Reach 450,000 Barrels Per Day in April and are Expected to Exit 2021 at Around 500,000 Barrels Per Day West Coast Renewable Fuels Distribution System Handles Roughly 30 % of California's Renewable Diesel Volumes Despite Impact of Winter Storm Uri , NuStar Maintains Strong 2021 Outlook SAN ANTONIO , May 4 , 2021 - NuStar Energy L.P. ( NYSE : NS ) today reported net income of $ 42 million for the first quarter of 2021 , or $ 0.05 per unit , compared to a $ 148 million net loss , or ( $ 1.68 ) per unit for the first quarter of 2020 , which was largely related to a $ 225 million non - cash goodwill impairment charge when the fair value of NuStar's crude oil pipelines reporting unit fell below its carrying value as a result of the global pandemic . On an adjusted basis , NuStar reported net income of $ 77 million , or $ 0.39 per unit , in the first quarter of 2020 . " Despite the lingering effects of the pandemic on the global economy and U.S. exports , and a historically unprecedented severe winter weather event , I am pleased to report NuStar turned in a very solid quarter , ” said NuStar President and CEO Brad Barron . " As America begins to recover from the impact of COVID - 19 and begins returning to normal activity and growth , we are seeing signs of stabilization and improvement across the U.S. and in NuStar's footprint , ” said Barron . “ U.S. refined product demand has improved as COVID vaccinations have continued to allow more and more Americans to return to normal day - to - day activities . " Solid Results Despite Impact of Severe Winter Storm Barron discussed the impact of Winter Storm Uri , which in mid - February brought extreme temperatures , snow and ice to Texas and nearby states and left millions of Texans without heat or water for days . " Some of our customers in the region also experienced outages or downtime during and after the storm , which trimmed our earnings for the quarter by a total of about $ 11 million , ” Barron said . “ Despite the impact of Winter Storm Uri , our first quarter earnings before interest , taxes , depreciation and amortization ( EBITDA ) were in line with consensus estimates and without the storm's impact , earnings were comparable to the fourth quarter of 2020. " Refined Product and Permian Pipeline Demand Returns to Pre - Pandemic Levels Barron noted that refined product demand on NuStar's systems has been remarkably resilient . “ It was up to nearly 100 % of pre- pandemic levels in January , dropped temporarily during February's storm , and then recovered quickly to turn in an average 95 % of pre - pandemic levels for the first quarter . And that improvement has continued as we averaged slightly over 100 % for the month of April . We continue to expect our refined products systems to perform at around 100 % of our pre - pandemic run rate for the remainder of this year , " said Barron .