NuStar completes $250-million sale of Caribbean storage terminal

NuStar Energy has finalized the US$250-million sale of its oil storage terminal on Saint Eustatius to Prostar Capital. NuStar President Brad Barron said that proceeds from the sale, which marks the company’s exit from the Caribbean market, would be redeployed to its core businesses in North America. The terminal’s 14-million-barrel storage capacity includes crude oil, gasoline and intermediate petroleum products. Saint Eustatius, a Dutch municipality, has six mooring locations capable of servicing the world’s largest oil tankers.