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Exhibit 99.01 NuStar Energy L.P. Reports Solid Third Quarter of 2021 Results Completes Sale of Eastern U.S. Terminals ; Proceeds Improve Leverage with Year - end Debt - to - EBITDA Ratio Target Below 4.0 Times Expects to Self - fund all Spending from Internally Generated Cash Flows for 2021 , 2022 and Beyond Reports Comparable Quarter - Over - Quarter Results Refined Product Systems Maintain 105 Percent of Pre - Pandemic Run Rate Permian Crude System Volumes Hit Record - Breaking Average of 502,000 Barrels Per Day / On Track to Exit 2021 at Around 514,000 Barrels Per Day 2021 Full - Year Outlook Higher Than Previous Expectations Sustainability Report Released SAN ANTONIO , November 4 , 2021 - NuStar Energy L.P. ( NYSE : NS ) today announced solid third quarter of 2021 results fueled by strong throughputs on its refined products and crude oil pipelines . “ In the third quarter , we completed the $ 250 million sale of our Eastern U.S. terminal facilities to Sunoco LP , which made it possible for us to execute on our plan to optimize our business and strengthen our balance sheet by deploying the sales proceeds to lower our leverage and focus 100 percent of our resources on our core asset footprint . As a result , we are now targeting a year- end debt metric below 4.0 times . We also continue to expect to self - fund all of our spending from our internally generated cash flows in 2021 , 2022 and beyond , ” said NuStar President and CEO Brad Barron . " We are pleased to see the pieces of our plan coming into place and our ongoing core business performing solidly with a comparable , and in some cases , better quarter - over - quarter performance , despite the lingering effects of the pandemic on the global economy and the non - cash charges associated with the asset sale . " Barron noted the quarter's results include a $ 130 million non - cash charge related to the sale of its Eastern U.S. terminal assets and a $ 59 million non - cash impairment charge on a portion of NuStar's Houston 12 - inch pipeline , as well as a $ 9 million cash gain from insurance proceeds to rebuild tanks at its Selby terminal . As a result of the non - cash charges , NuStar reported a net loss of $ 125 million for the third quarter of 2021 , or $ 1.48 net loss per unit , compared to a net loss of $ 97 million , or a $ 1.22 net loss per unit , for the third quarter of 2020 , which was negatively impacted by a pandemic - related non - operational charge . Excluding the effects of the non - cash charges , adjusted net income was $ 55 million for the third quarter of 2021 , or $ 0.16 per unit , compared to adjusted net income of $ 45 million , or $ 0.08 per unit , for the third quarter of 2020 . Adjusted earnings before interest , taxes , depreciation and amortization ( EBITDA ) were $ 177 million for the third quarter of 2021 , comparable to the third quarter of 2020 adjusted EBITDA of $ 180 million and up five percent over the pre - pandemic third quarter of 2019 . Distributable cash flow ( DCF ) available to common limited partners was $ 92 million for the third quarter of 2021 , up $ 8 million , or 10 percent , compared to $ 84 million of adjusted DCF in the third quarter of