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Stock impact report

PDVSA to resume use of Caribbean oil terminal under NuStar deal [Reuters]

Nustar Energy L.P. Common Units (NS) 
Last nustar energy l.p. common units earnings: 2/5 06:45 am Check Earnings Report
Company Research Source: Reuters
PDVSA to resume use of Caribbean oil terminal under NuStar deal | Reuters Reuters Staff 2 Min Read HOUSTON (Reuters) - Venezuela’s PDVSA and NuStar Energy LP have reached an agreement over outstanding storage fees, allowing the state-run company to resume use of a key storage terminal in the Caribbean, the U.S. energy firm said on Monday. NuStar had suspended PDVSA several times since 2017 from using its St. Eustatius facility over millions of dollars in missed payments. The terminal played a role in a legal dispute between PDVSA and ConocoPhillips, which earlier this year tried to enforce a $2 billion arbitration award by seizing some of the Venezuelan firm’s assets in the Caribbean. “We can confirm that we have signed an agreement with PDVSA, which brings their account current,” NuStar spokesman Chris Cho said in an email. “This agreement improves the earnings outlook for our St Eustatius terminal for the remainder of 2018.” NuStar and PDVSA also signed a new contract that reduces t Show less Read more
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