NuStar Energy, L.P. NS along with Neste, a renewable fuels firm, recently announced that supply trucks will now load Neste MY Sustainable Aviation FuelTM at the NuStar-operated Selby Terminal neighboring San Francisco, CA. The first gallons were loaded up and transported securely to the Monterey Regional Airport.
Neste will be able to supply sustainable aviation fuel to an increasing number of airports all over the western United States, courtesy of the Selby Terminal's prime location.
Though NuStar's Selby Terminal handled traditional jet fuel for a long time, the companies are now collaborating to make the facility a centre for low-emission renewable fuels, making it convenient for businesses and cities to obtain renewable diesel and sustainable aviation fuel.
NuStar president and CEO Brad Barron stated that "We are pleased to have established NuStar as an early mover and leader in the renewable fuels space with a number of renewable fuels projects with other key customers throughout the region. These projects coupled with our customers on the West Coast have allowed NuStar to capture market share and build important customer relationships with key global producers. And our facilities are positioned to further benefit as the renewable fuels market continues to grow and third parties announce new production and conversion supply projects for renewable diesel, renewable jet, ethanol and other renewable fuels."
NuStar manages and stores a large fraction of the overall amount of low-carbon fuels used in California, comprising approximately 27% of renewable diesel, 18% of ethanol and 6% of biodiesel.
In addition, over the last decade, Neste delivered approximately 220 million gallons of Neste MY Renewable DieselTM to California through the NuStar Selby Terminal. This amount of fuel is sufficient to power almost 12,000 Class 8 vehicles, also known as big rigs, for a year, providing the same climate benefits resulting from nearly 430 wind turbines or more than 2.4 million tree plantations.
Company Profile
Headquartered in San Antonio, TX, NuStar Energy is a midstream energy service provider. It is a master limited partnership in the United States. The firm’s units have outperformed the industry in the year-to-date period. The stock has gained 25.5% compared with the 20% rise of its industry.
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Zacks Rank & Key Picks
NuStar Energy currently carries a Zacks Rank #4 (Strong Sell).
Some better-ranked stocks in the energy space are Matador Resources Company MTDR, Diamondback Energy, Inc. FANG and Devon Energy Corporation DVN, each presently flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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