NuStar Energy (NS) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

DEI Document

DEI Document - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Abstract]
Entity Registrant Name	NuStar Energy L.P.
Entity Central Index Key	1,110,805
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	ns
Amendment Flag	false
Entity Partnership Units Outstanding		93,032,836

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 33,615	$ 35,942
Accounts receivable, net of allowance for doubtful accounts of $7,807 and $7,756 as of September 30, 2017 and December 31, 2016, respectively	152,074	170,293
Receivable from related party	81	317
Inventories	23,297	37,945
Other current assets	24,805	132,686
Total current assets	233,872	377,183
Property, plant and equipment, at cost	6,073,194	5,435,278
Accumulated depreciation and amortization	(1,885,045)	(1,712,995)
Property, plant and equipment, net	4,188,149	3,722,283
Intangible assets, net	797,339	127,083
Goodwill	1,095,943	696,637
Deferred income tax asset	1,070	2,051
Other long-term assets, net	102,395	105,308
Total assets	6,418,768	5,030,545
Current liabilities:
Accounts payable	97,854	118,686
Short-term debt	68,000	54,000
Current portion of long-term debt	350,007	0
Accrued interest payable	41,811	34,030
Accrued liabilities	60,466	60,485
Taxes other than income tax	19,940	15,685
Income tax payable	2,989	6,510
Total current liabilities	641,067	289,396
Long-term debt	3,232,599	3,014,364
Deferred income tax liability	23,166	22,204
Other long-term liabilities	102,074	92,964
Commitments and contingencies (Note 5)
Partners' equity:
Common limited partners (93,032,099 and 78,616,228 common units outstanding as of September 30, 2017 and December 31, 2016, respectively)	1,873,382	1,455,642
General partner	39,953	31,752
Accumulated other comprehensive loss	(83,393)	(94,177)
Total partners’ equity	2,419,862	1,611,617
Total liabilities and partners' equity	6,418,768	5,030,545
Series A Preferred Limited Partner [Member]
Partners' equity:
Preferred limited partners	218,307	218,400
Series B Preferred Limited Partner [Member]
Partners' equity:
Preferred limited partners	$ 371,613	$ 0

CONSOLIDATED BALANCE SHEETS Non

CONSOLIDATED BALANCE SHEETS Non-Printing - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 7,807	$ 7,756
Limited partners common units outstanding (in units)	93,032,099	78,616,228
Series A Preferred Limited Partner [Member]
Preferred Units outstanding (in units)	9,060,000	9,060,000
Series B Preferred Limited Partner [Member]
Preferred Units outstanding (in units)	15,400,000	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Service revenues	$ 295,102	$ 277,758	$ 845,264	$ 814,727
Product sales	145,464	163,660	518,220	470,198
Total revenues	440,566	441,418	1,363,484	1,284,925
Costs and expenses:
Cost of product sales	138,078	155,129	490,363	441,736
Operating expenses:
Third parties	116,590	117,432	334,016	313,634
Related party	0	0	0	21,681
Total operating expenses	116,590	117,432	334,016	335,315
General and administrative expenses:
Third parties	25,003	26,957	83,202	62,906
Related party	0	0	0	10,493
Total general and administrative expenses	25,003	26,957	83,202	73,399
Depreciation and amortization expense	69,178	53,946	193,643	160,739
Total costs and expenses	348,849	353,464	1,101,224	1,011,189
Operating income	91,717	87,954	262,260	273,736
Interest expense, net	(45,256)	(35,022)	(127,282)	(103,374)
Other (expense) income, net	(5,126)	362	(4,898)	(10)
Income before income tax expense	41,335	53,294	130,080	170,352
Income tax expense	2,743	2,153	7,298	9,293
Net income	$ 38,592	$ 51,141	$ 122,782	$ 161,059
Basic net income per common unit (Note 11)	$ 0.15	$ 0.49	$ 0.65	$ 1.58
Diluted net income per common unit (Note 11)	$ 0.15	$ 0.49	$ 0.65	$ 1.58
Basic weighted-average common units outstanding	93,031,320	78,031,053	87,392,597	77,934,802
Diluted weighted-average common units outstanding	93,031,320	78,062,889	87,392,597	77,981,299
Comprehensive income	$ 44,482	$ 48,652	$ 133,566	$ 120,453

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 122,782	$ 161,059
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	193,643	160,739
Unit-based compensation expense	7,437	4,820
Amortization of debt related items	4,677	5,762
Loss (gain) from sale or disposition of assets	4,920	(14)
Deferred income tax (benefit) expense	(106)	2,989
Changes in current assets and current liabilities (Note 12)	(17,671)	(12,477)
Other, net	(4,667)	(8,329)
Net cash provided by operating activities	311,015	314,549
Cash flows from investing activities:
Capital expenditures	(220,617)	(145,414)
Change in accounts payable related to capital expenditures	13,272	(15,504)
Proceeds from sale or disposition of assets	2,023	0
Proceeds from Axeon term loan	110,000	0
Acquisitions	(1,461,719)	0
Net cash provided by (used in) investing activities	(1,557,041)	(160,918)
Cash flows from financing activities:
Proceeds from long-term debt borrowings	1,223,204	523,982
Proceeds from short-term debt borrowings	748,000	462,000
Proceeds from note offering, net of issuance costs	543,313	0
Long-term debt repayments	(1,204,739)	(410,750)
Short-term debt repayments	(734,000)	(539,000)
Proceeds from issuance of preferred units, net of issuance costs	371,802	0
Proceeds from issuance of common units, net of issuance costs	643,858	27,710
Contributions from general partner	13,597	575
Distributions to preferred unitholders	(26,681)	0
Distributions to common unitholders and general partner	(331,222)	(294,153)
Increase (decrease) in cash book overdrafts	1,564	(12,181)
Other, net	(6,634)	(1,418)
Net cash provided by (used in) financing activities	1,242,062	(243,235)
Effect of foreign exchange rate changes on cash	1,637	3,404
Net increase (decrease) in cash and cash equivalents	(2,327)	(86,200)
Cash and cash equivalents as of the beginning of the period	35,942	118,862
Cash and cash equivalents as of the end of the period	$ 33,615	$ 32,662

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Organization and Operations NuStar Energy L.P. (NYSE: NS) is a publicly held Delaware limited partnership engaged in the transportation of petroleum products and anhydrous ammonia, and the terminalling, storage and marketing of petroleum products. Unless otherwise indicated, the terms “NuStar Energy,” “NS,” “the Partnership,” “we,” “our” and “us” are used in this report to refer to NuStar Energy L.P., to one or more of our consolidated subsidiaries or to all of them taken as a whole. NuStar GP Holdings, LLC (NuStar GP Holdings or NSH) (NYSE: NSH) owns our general partner, Riverwalk Logistics, L.P., and owns an approximate 11% common limited partner interest in us as of September 30, 2017 . We conduct our operations through our subsidiaries, primarily NuStar Logistics, L.P. (NuStar Logistics) and NuStar Pipeline Operating Partnership L.P. (NuPOP). We have three business segments: pipeline, storage and fuels marketing. Recent Developments Hurricane Activity. In the third quarter of 2017, parts of the Caribbean and Gulf of Mexico experienced three major hurricanes. Several of our facilities were affected by the hurricanes, with the main impact at our St. Eustatius terminal, which was temporarily shut down. We recorded a $5.0 million loss in “Other (expense) income, net” in the condensed consolidated statements of comprehensive income in the third quarter of 2017 for property damage at our St. Eustatius terminal, which represents the amount of our deductible under our insurance policy. Additionally, we incurred approximately $0.7 million of operating expenses to repair minor property damage at several of our domestic terminals. The shutdown of the St. Eustatius terminal also caused lower revenues for our bunker fuel operations in our fuels marketing segment and lower throughput and associated handling fees in our storage segment. We are still evaluating the extent of property damage at our St. Eustatius terminal, as well as the interruption to our operations; therefore, we are unable to estimate the total impact from the hurricanes at this time. However, we expect that losses incurred above our deductible amount will be covered by our insurance policies. Navigator Acquisition and Financing Transactions. On May 4, 2017 , we completed the acquisition of Navigator Energy Services, LLC for approximately $1.5 billion (the Navigator Acquisition). In order to fund the purchase price, we issued 14,375,000 common units for net proceeds of $657.5 million , issued $550.0 million of 5.625% senior notes for net proceeds of $543.3 million and issued 15,400,000 of our 7.625% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Series B Preferred Units) for net proceeds of $371.8 million . Please refer to Notes 3, 4 and 10 for further discussion. Axeon Term Loan. On February 22, 2017, we settled and terminated the $190.0 million term loan to Axeon Specialty Products, LLC (the Axeon Term Loan), pursuant to which we also provided credit support, such as guarantees, letters of credit and cash collateral, as applicable, of up to $125.0 million to Axeon Specialty Products, LLC (Axeon). We received $110.0 million in settlement of the Axeon Term Loan, and our obligation to provide ongoing credit support to Axeon ceased. Please refer to Note 6 for further discussion of the Axeon Term Loan and credit support. Basis of Presentation These unaudited condensed consolidated financial statements include the accounts of the Partnership and subsidiaries in which the Partnership has a controlling interest. Inter-partnership balances and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and notes required by GAAP for complete consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included, and all disclosures are adequate. All such adjustments are of a normal recurring nature unless disclosed otherwise. Financial information for the three and nine months ended September 30, 2017 and 2016 included in these Condensed Notes to Consolidated Financial Statements is derived from our unaudited condensed consolidated financial statements. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . The consolidated balance sheet as of December 31, 2016 has been derived from the audited consolidated financial statements as of that date. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016 .

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS Derivatives and Hedging In August 2017, the Financial Accounting Standards Board (FASB) issued amended guidance intended to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. The amended guidance also makes certain targeted improvements to simplify the application of current hedge accounting guidance. The guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. Certain of the new requirements should be applied prospectively while others should be applied using a modified retrospective transition method. We currently expect to adopt the amended guidance on January 1, 2019 and are assessing the impact of this amended guidance on our financial position, results of operations and disclosures. We plan to provide additional information about the expected financial impact at a future date. Unit-Based Payments In May 2017, the FASB issued amended guidance that clarifies when a change to the terms and conditions of a unit-based payment award is accounted for as a modification. Under the amended guidance, an entity will apply modification accounting if the value, vesting or classification of the unit-based payment award changes. The guidance is effective for annual and interim periods beginning after December 15, 2017, and amendments should be applied prospectively. We will adopt these provisions January 1, 2018, and we do not expect the guidance to have a material impact on our financial position, results of operations or disclosures. Defined Benefit Plans In March 2017, the FASB issued amended guidance that changes the presentation of net periodic pension cost related to defined benefit plans. Under the amended guidance, the service cost component of net periodic benefit cost will be presented in the same income statement line items as other current employee compensation costs, but the remaining components of net periodic benefit cost will be presented outside of operating income. The changes are effective for annual and interim periods beginning after December 15, 2017, and amendments should be applied retrospectively. We will adopt these provisions January 1, 2018, and we do not expect the guidance to have a material impact on our financial position, results of operations or disclosures. Goodwill In January 2017, the FASB issued amended guidance that simplifies the accounting for goodwill impairment by eliminating step 2 of the goodwill impairment test. Under the amended guidance, goodwill impairment will be measured as the excess of the reporting unit’s carrying value over its fair value, not to exceed the carrying amount of goodwill for that reporting unit. The changes are effective for annual and interim periods beginning after December 15, 2019, and amendments should be applied prospectively. Early adoption is permitted for any impairment tests performed after January 1, 2017, and we are currently evaluating whether we will adopt these provisions early. Regardless of our decision, we do not expect the guidance to have a material impact on our financial position, results of operations or disclosures. Definition of a Business In January 2017, the FASB issued amended guidance that clarifies the definition of a business used in evaluating whether a set of transferred assets and activities constitutes a business. Under the amended guidance, if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of transferred assets and activities would not represent a business. To be considered a business, the set of assets transferred is also required to include at least one substantive process that together significantly contribute to the ability to create outputs. In addition, the amended guidance narrows the definition of outputs to be consistent with how outputs are described in the new revenue recognition standard. The changes are effective for annual and interim periods beginning after December 15, 2017, and amendments should be applied prospectively. We will adopt these provisions January 1, 2018, and we do not expect the guidance to have a material impact on our financial position, results of operations or disclosures. Statement of Cash Flows In August 2016, the FASB issued amended guidance that clarifies how entities should present certain cash receipts and cash payments on the statement of cash flows, including, but not limited to, debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims and distributions received from equity method investees. The changes are effective for annual and interim periods beginning after December 15, 2017, and amendments should be applied retrospectively. We will adopt these provisions January 1, 2018, and we do not expect the guidance to have a material impact on our statements of cash flows or disclosures. Credit Losses In June 2016, the FASB issued amended guidance that requires the use of a “current expected loss” model for financial assets measured at amortized cost and certain off-balance sheet credit exposures. Under this model, entities will be required to estimate the lifetime expected credit losses on such instruments based on historical experience, current conditions, and reasonable and supportable forecasts. This amended guidance also expands the disclosure requirements to enable users of financial statements to understand an entity’s assumptions, models and methods for estimating expected credit losses. The changes are effective for annual and interim periods beginning after December 15, 2019, and amendments should be applied using a modified retrospective approach. We currently expect to adopt the amended guidance on January 1, 2020 and are assessing the impact of this amended guidance on our financial position, results of operations and disclosures. We plan to provide additional information about the expected financial impact at a future date. Leases In February 2016, the FASB issued amended guidance that requires lessees to recognize the assets and liabilities that arise from most leases on the balance sheet. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The changes are effective for annual and interim periods beginning after December 15, 2018, and amendments should be applied using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements, with the option to use certain expedients. We currently expect to adopt these provisions on January 1, 2019. We have initiated a project to assess the impact of this amended guidance on our financial position, results of operations, disclosures and internal controls and plan to provide additional information about the expected financial impact at a future date. Financial Instruments In January 2016, the FASB issued new guidance that addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The changes are effective for annual and interim periods beginning after December 15, 2017, and amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. We will adopt these provisions January 1, 2018, and we do not expect the guidance to have a material impact on our financial position, results of operations or disclosures. Revenue Recognition In May 2014, the FASB and the International Accounting Standards Board jointly issued a comprehensive new revenue recognition standard. In August 2015, the FASB deferred the effective date by one year. The standard is now effective for public entities for annual and interim periods beginning after December 15, 2017, using one of two retrospective transition methods. Early adoption is permitted, but not before the original effective date. The FASB has subsequently issued several updates that amend and/or clarify the new revenue recognition standard. We expect to complete implementation of the new revenue recognition standard by the end of 2017. We currently expect to adopt the new guidance using the modified retrospective approach, under which the cumulative effect of initially applying the new guidance is recognized as an adjustment to the opening balance of retained earnings, in the first quarter of 2018. Based on our analysis completed to date, we do not believe the standard will significantly impact the amount or timing of revenues recognized under the vast majority of our revenue contracts; however, we are continuing to evaluate the impact of this new guidance on our financial position and results of operations. We also intend to provide additional disclosures as required by the new standard, which we are currently assessing.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Navigator Acquisition On April 11, 2017, we entered into a Membership Interest Purchase and Sale Agreement (the Acquisition Agreement) with FR Navigator Holdings LLC to acquire all of the issued and outstanding limited liability company interests in Navigator Energy Services, LLC (Navigator) for approximately $1.5 billion . We closed on the Navigator Acquisition on May 4, 2017 and funded the purchase price with the net proceeds of the equity and debt issuances described in Notes 4 and 10. We acquired crude oil transportation, pipeline gathering and storage assets located in the Midland Basin of West Texas consisting of: (i) more than 500 miles of crude oil gathering and transportation pipelines with approximately 92,000 barrels per day ship-or-pay volume commitments and deliverability of approximately 412,000 barrels per day; (ii) a pipeline gathering system with more than 200 connected producer tank batteries capable of more than 400,000 barrels per day of pumping capacity covering over 500,000 dedicated acres with fixed fee contracts; and (iii) approximately 1.0 million barrels of crude oil storage capacity with 440,000 barrels contracted to third parties. We collectively refer to the acquired assets as our Permian Crude System. The assets acquired are included in our pipeline segment. The Navigator Acquisition broadens our geographic footprint by marking our entry into the Permian Basin and complements our existing asset base. We believe the Permian Crude System will provide a strong growth platform that, when coupled with our assets in the Eagle Ford region, serve to solidify our presence in two of the most prolific basins in the United States. We accounted for the Navigator Acquisition using the acquisition method. The fair value estimates of the assets acquired and liabilities assumed are based on preliminary assumptions, pending the completion of an independent appraisal and other evaluations as information becomes available to us. The following table reflects the preliminary purchase price allocation as of September 30, 2017 : Preliminary Purchase Price Allocation (Thousands of Dollars) Accounts receivable $ 4,747 Other current assets 2,436 Property, plant and equipment, net 376,690 Intangible assets (a) 700,000 Goodwill (b) 399,306 Other long-term assets, net 2,125 Current liabilities (23,585 ) Preliminary purchase price allocation, net of cash acquired $ 1,461,719 (a) Intangible assets, which consist of customer contracts and relationships, are expected to be amortized over a weighted average period of 20 years . (b) The goodwill acquired represents the expected benefit from entering new geographic areas and the anticipated opportunities to generate future cash flows from the assets acquired and potential future projects. In the third quarter of 2017, goodwill increased by approximately $70.0 million due to valuation adjustments to property, plant and equipment and intangible assets. These adjustments had an immaterial effect on our results of operations. The values used in the purchase price allocation above and estimated useful lives are preliminary and subject to change after we finalize our review of the specific types, nature and condition of Navigator’s property, plant and equipment and intangible assets, and pending the completion of an independent appraisal. A change in the value used for property, plant and equipment or intangible assets may be significant and would cause a corresponding increase or decrease in goodwill. The condensed consolidated statements of comprehensive income include the results of operations for Navigator commencing on May 4, 2017 . The table below presents certain financial information included on the condensed consolidated statements of comprehensive income related to the Navigator Acquisition: Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 (Thousands of Dollars) Permian Crude System: Revenues $ 15,663 $ 25,142 Operating income (loss) $ 1,050 $ (2,374 ) Transaction costs: General and administrative expenses $ 169 $ 10,359 Interest expense, net — 3,688 Total transaction costs $ 169 $ 14,047 The unaudited pro forma information for the three and nine months ended September 30, 2017 and 2016 presented below combines the historical financial information for Navigator and the Partnership for those periods. The information assumes we completed the Navigator Acquisition on January 1, 2016 and the following: • we issued approximately 14.4 million common units; • we received a contribution from our general partner of $13.6 million to maintain its 2% interest; • we issued 15.4 million Series B Preferred Units; • we issued $550.0 million of 5.625% senior notes; • additional depreciation and amortization that would have been incurred assuming the fair value adjustments to property, plant and equipment and intangible assets reflected in the preliminary purchase price allocation above; and • we satisfied Navigator’s outstanding obligations under its revolving credit agreement. Three Months Ended September 30, Nine Months Ended September 30, 2017 (a) 2016 2017 2016 (Thousands of Dollars, Except Per Unit Data) Revenues $ 440,566 $ 449,250 $ 1,377,883 $ 1,301,419 Net income $ 38,592 $ 34,417 $ 102,251 $ 104,535 Basic and diluted net income per common unit $ 0.15 $ 0.16 $ 0.31 $ 0.50 (a) Represents actual results of operations. The pro forma information for the nine months ended September 30, 2017 includes transaction costs of approximately $14.0 million , which were directly attributable to the Navigator Acquisition. The pro forma information is unaudited and is not necessarily indicative of the results of operations that would have resulted had the Navigator Acquisition occurred on January 1, 2016 or that may result in the future.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Agreement On August 22, 2017, NuStar Logistics amended its revolving credit agreement (the Revolving Credit Agreement) to extend the maturity date from October 29, 2019 to October 29, 2020 , and to increase the borrowing capacity from $1.50 billion to $1.75 billion . The Revolving Credit Agreement was also amended to increase the maximum allowed consolidated debt coverage ratio (as defined in the Revolving Credit Agreement) from 5.00-to-1.00 to 5.50-to-1.00 through the rolling period ending March 31, 2018. Subsequently, the maximum allowed consolidated debt coverage ratio may not exceed 5.00-to-1.00 for any rolling period ending on or after June 30, 2018. If we complete one or more acquisitions for aggregate net consideration of at least $50.0 million, our maximum consolidated debt coverage ratio will increase to 5.50-to-1.00 for two rolling periods. The requirement not to exceed a maximum consolidated debt coverage ratio may limit the amount we can borrow under the Revolving Credit Agreement to an amount less than the total amount available for borrowing. As of September 30, 2017 , letters of credit issued under the Revolving Credit Agreement totaled $7.7 million , and we had $863.8 million available for borrowing. We believe that we are in compliance with the covenants in the Revolving Credit Agreement as of September 30, 2017 . During the nine months ended September 30, 2017 , the balance under the Revolving Credit Agreement increased by $39.4 million . The Revolving Credit Agreement bears interest, at our option, based on an alternative base rate, a LIBOR-based rate or a EURIBOR-based rate. The interest rate on the Revolving Credit Agreement is subject to adjustment if our debt rating is downgraded (or upgraded) by certain credit rating agencies. As of September 30, 2017 , our weighted-average interest rate related to borrowings under the Revolving Credit Agreement was 2.9% , and we had $878.4 million outstanding. Issuance of 5.625% Senior Notes On April 28, 2017 , NuStar Logistics issued $550.0 million of 5.625% senior notes due April 28, 2027 . We used the net proceeds of $543.3 million from the offering to fund a portion of the purchase price for the Navigator Acquisition and to pay related fees and expenses. The interest on the 5.625% senior notes is payable semi-annually in arrears on April 28 and October 28 of each year beginning on October 28, 2017. The 5.625% senior notes do not have sinking fund requirements. These notes rank equally with existing senior unsecured indebtedness and senior to existing subordinated indebtedness of NuStar Logistics. The 5.625% senior notes contain restrictions on NuStar Logistics’ ability to incur secured indebtedness unless the same security is also provided for the benefit of holders of the senior notes. In addition, the senior notes limit NuStar Logistics’ ability to incur indebtedness secured by certain liens, engage in certain sale-leaseback transactions and engage in certain consolidations, mergers or asset sales. The 5.625% senior notes are fully and unconditionally guaranteed by NuStar Energy and NuPOP. At the option of NuStar Logistics, the 5.625% senior notes may be redeemed in whole or in part at any time at a redemption price, plus accrued and unpaid interest to the redemption date. If we undergo a change of control, followed by a ratings decline within 60 days of a change of control, each holder of the notes may require us to repurchase all or a portion of its notes at a price equal to 101% of the principal amount of the notes, plus any accrued and unpaid interest to the date of repurchase. Gulf Opportunity Zone Revenue Bonds In 2008, 2010 and 2011, the Parish of St. James, Louisiana issued, pursuant to the Gulf Opportunity Zone Act of 2005, an aggregate $365.4 million of tax-exempt revenue bonds (the GoZone Bonds) associated with our St. James, Louisiana terminal expansions. The GoZone Bonds bear interest based on a weekly tax-exempt bond market interest rate, and interest is paid monthly. The weighted-average interest rate was 1.0% as of September 30, 2017 . Following the issuances, the proceeds were deposited with a trustee and are disbursed to us upon our request for reimbursement of expenditures related to our St. James terminal expansions. We include the amount remaining in trust in “Other long-term assets, net,” and we include the amount of bonds issued in “Long-term debt” on the consolidated balance sheets. For the nine months ended September 30, 2017 , we did not receive any proceeds from the trustee, and as of September 30, 2017 , the amount remaining in trust totaled $42.5 million . Receivables Financing Agreement NuStar Energy and NuStar Finance LLC (NuStar Finance), a special purpose entity and wholly owned subsidiary of NuStar Energy, are parties to a $125.0 million receivables financing agreement with third-party lenders (the Receivables Financing Agreement) and agreements with certain of NuStar Energy’s wholly owned subsidiaries (collectively with the Receivables Financing Agreement, the Securitization Program). NuStar Finance’s sole business consists of purchasing receivables from NuStar Energy’s wholly owned subsidiaries that participate in the Securitization Program and providing these receivables as collateral for NuStar Finance’s revolving borrowings under the Securitization Program. NuStar Finance is a separate legal entity and the assets of NuStar Finance, including these accounts receivable, are not available to satisfy the claims of creditors of NuStar Energy, its subsidiaries selling receivables under the Securitization Program or their affiliates. The amount available for borrowing is based on the availability of eligible receivables and other customary factors and conditions. On September 20, 2017, the Securitization Program was amended to add certain of NuStar Energy’s wholly owned subsidiaries resulting from the Navigator Acquisition and to extend the Securitization Program’s scheduled termination date from June 15, 2018 to September 20, 2020, with the option to renew for additional 364-day periods thereafter. Borrowings by NuStar Finance under the Receivables Financing Agreement bear interest at the applicable bank rate, as defined under the Receivables Financing Agreement. As of September 30, 2017 , $98.6 million of our accounts receivable are included in the Securitization Program. The amount of borrowings outstanding under the Receivables Financing Agreement totaled $46.1 million as of September 30, 2017 , which is included in “Long-term debt” on the consolidated balance sheet.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We have contingent liabilities resulting from various litigation, claims and commitments. We record accruals for loss contingencies when losses are considered probable and can be reasonably estimated. Legal fees associated with defending the Partnership in legal matters are expensed as incurred. We had an accrual of $1.6 million for contingent losses as of September 30, 2017 and none as of December 31, 2016 . The amount that will ultimately be paid may differ from the recorded accruals, and the timing of such payments is uncertain. In addition, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on our results of operations, financial position or liquidity.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We segregate the inputs used in measuring fair value into three levels: Level 1, defined as observable inputs, such as quoted prices for identical assets or liabilities in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in markets that are not active; and Level 3, defined as unobservable inputs for which little or no market data exists. We consider counterparty credit risk and our own credit risk in the determination of all estimated fair values. Recurring Fair Value Measurements The following assets and liabilities are measured at fair value on a recurring basis: September 30, 2017 Level 1 Level 2 Level 3 Total (Thousands of Dollars) Assets: Other current assets: Product imbalances $ 6,960 $ — $ — $ 6,960 Liabilities: Accrued liabilities: Product imbalances $ (2,164 ) $ — $ — $ (2,164 ) Commodity derivatives (791 ) — — (791 ) Interest rate swaps — (7,280 ) — (7,280 ) Other long-term liabilities: Interest rate swaps — (4,043 ) — (4,043 ) Total $ (2,955 ) $ (11,323 ) $ — $ (14,278 ) December 31, 2016 Level 1 Level 2 Level 3 Total (Thousands of Dollars) Assets: Other current assets: Product imbalances $ 1,551 $ — $ — $ 1,551 Commodity derivatives — 155 — 155 Other long-term assets, net: Interest rate swaps — 1,314 — 1,314 Total $ 1,551 $ 1,469 $ — $ 3,020 Liabilities: Accrued liabilities: Product imbalances $ (1,577 ) $ — $ — $ (1,577 ) Commodity derivatives (4,887 ) (165 ) — (5,052 ) Other long-term liabilities: Guarantee liability — — (1,230 ) (1,230 ) Interest rate swaps — (2,632 ) — (2,632 ) Total $ (6,464 ) $ (2,797 ) $ (1,230 ) $ (10,491 ) Product Imbalances. Since we value our assets and liabilities related to product imbalances using quoted market prices in active markets as of the reporting date, we include these product imbalances in Level 1 of the fair value hierarchy. Commodity Derivatives. We base the fair value of certain of our commodity derivative instruments on quoted prices on an exchange; accordingly, we include these items in Level 1 of the fair value hierarchy. We also had derivative instruments for which we determined fair value using industry pricing services and other observable inputs, such as quoted prices on an exchange for similar derivative instruments, and we included these derivative instruments in Level 2 of the fair value hierarchy. See Note 7 for a discussion of our derivative instruments. Interest Rate Swaps. Because we estimate the fair value of our forward-starting interest rate swaps using discounted cash flows, which use observable inputs such as time to maturity and market interest rates, we include these interest rate swaps in Level 2 of the fair value hierarchy. Guarantees. In 2014, we sold our remaining 50% ownership interest in Axeon and agreed to provide them with credit support, such as guarantees, letters of credit and cash collateral, as applicable, of up to $125.0 million . As of December 31, 2016 , we provided guarantees totaling $54.1 million , and one guarantee that did not specify a maximum amount. Our estimate of the fair value was based on significant inputs not observable in the market and thus fell within Level 3 of the fair value hierarchy. In conjunction with the termination of the Axeon Term Loan on February 22, 2017 discussed in the following section, our obligation to provide credit support to Axeon ceased. Fair Value of Financial Instruments We recognize cash equivalents, receivables, payables and debt in our consolidated balance sheets at their carrying amounts. The fair values of these financial instruments, except for long-term debt, approximate their carrying amounts. The estimated fair values and carrying amounts of long-term debt, including the current portion, and the Axeon Term Loan were as follows: September 30, 2017 December 31, 2016 Long-term Debt Long-term Debt Axeon Term Loan (Thousands of Dollars) Fair value $ 3,694,877 $ 3,084,762 $ 110,000 Carrying amount $ 3,582,606 $ 3,014,364 $ 110,000 Long-term Debt. We estimated the fair value of our publicly traded senior notes based upon quoted prices in active markets; therefore, we determined that the fair value of our publicly traded senior notes falls in Level 1 of the fair value hierarchy. For our other debt, for which a quoted market price is not available, we estimated the fair value using a discounted cash flow analysis using current incremental borrowing rates for similar types of borrowing arrangements and determined that the fair value falls in Level 2 of the fair value hierarchy. Axeon Term Loan. In December 2016, Lindsay Goldberg LLC, the private investment firm that owned Axeon, informed us that they entered into an agreement to sell Axeon’s retail asphalt sales and distribution business (the Axeon Sale), and we entered into an agreement with Axeon (the Axeon Letter Agreement) to settle and terminate the Axeon Term Loan for $110.0 million upon closing of the Axeon Sale. Therefore, we reduced the carrying amount of the Axeon Term Loan to $110.0 million and reclassified the Axeon Term Loan from “Other long-term assets, net” to “Other current assets” on the consolidated balance sheet as of December 31, 2016. The Axeon Sale closed on February 22, 2017, at which time we received the $110.0 million payment in accordance with the Axeon Letter Agreement. Furthermore, the Axeon Term Loan and our obligation to provide ongoing credit support to Axeon all terminated concurrently on February 22, 2017.

DERIVATIVES AND RISK MANAGEMENT

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND RISK MANAGEMENT ACTIVITIES	DERIVATIVES AND RISK MANAGEMENT ACTIVITIES We utilize various derivative instruments to manage our exposure to interest rate risk and commodity price risk. Our risk management policies and procedures are designed to monitor interest rates, futures and swap positions and over-the-counter positions, as well as physical commodity volumes, grades, locations and delivery schedules, to help ensure that our hedging activities address our market risks. Interest Rate Risk We are a party to certain interest rate swap agreements to manage our exposure to changes in interest rates, which include forward-starting interest rate swap agreements related to forecasted debt issuances in 2018 and 2020. We entered into these swaps in order to hedge the risk of changes in the interest payments attributable to changes in the benchmark interest rate during the period from the effective date of the swap to the issuance of the forecasted debt. Under the terms of the swaps, we pay a fixed rate and receive a rate based on the three-month USD LIBOR . These swaps qualify as cash flow hedges, and we designate them as such. We record the effective portion of mark-to-market adjustments as a component of “Accumulated other comprehensive income (loss)” (AOCI), and the amount in AOCI will be recognized in “Interest expense, net” as the forecasted interest payments occur or if the interest payments are probable not to occur. As of September 30, 2017 and December 31, 2016 , the aggregate notional amount of forward-starting interest rate swaps totaled $600.0 million . Commodity Price Risk We are exposed to market risks related to the volatility of petroleum product prices. In order to reduce the risk of commodity price fluctuations with respect to our petroleum product inventories and related firm commitments to purchase and/or sell such inventories, we utilize commodity futures and swap contracts, which qualify, and we designate, as fair value hedges. Derivatives that are intended to hedge our commodity price risk, but fail to qualify as fair value or cash flow hedges, are considered economic hedges, and we record associated gains and losses in net income. Our risk management committee oversees our trading controls and procedures and certain aspects of commodity and trading risk management. Our risk management committee also reviews all new commodity and trading risk management strategies in accordance with our risk management policy, as approved by our board of directors. We ceased marketing crude oil in the second quarter of 2017 and exited our heavy fuels trading operations in the third quarter of 2017, thereby reducing our overall hedging activity. The volume of commodity contracts is based on open derivative positions and represents the combined volume of our long and short open positions on an absolute basis, which totaled 1.1 million barrels and 4.7 million barrels as of September 30, 2017 and December 31, 2016 , respectively. We had $0.3 million and $1.8 million of margin deposits as of September 30, 2017 and December 31, 2016 , respectively. The fair values of our derivative instruments included in our consolidated balance sheets were as follows: Asset Derivatives Liability Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, (Thousands of Dollars) Derivatives Designated as Hedging Instruments: Interest rate swaps Other long-term assets, net $ — $ 1,314 $ — $ — Commodity contracts Accrued liabilities 18 144 (2 ) (3,566 ) Interest rate swaps Accrued liabilities — — (7,280 ) — Interest rate swaps Other long-term liabilities — — (4,043 ) (2,632 ) Total 18 1,458 (11,325 ) (6,198 ) Derivatives Not Designated as Hedging Instruments: Commodity contracts Other current assets — 265 — (110 ) Commodity contracts Accrued liabilities 655 9,128 (1,462 ) (10,758 ) Total 655 9,393 (1,462 ) (10,868 ) Total Derivatives $ 673 $ 10,851 $ (12,787 ) $ (17,066 ) Certain of our derivative instruments are eligible for offset in the consolidated balance sheets and subject to master netting arrangements. Under our master netting arrangements, there is a legally enforceable right to offset amounts, and we intend to settle such amounts on a net basis. The following are the net amounts presented on the consolidated balance sheets: Commodity Contracts September 30, December 31, (Thousands of Dollars) Net amounts of assets presented in the consolidated balance sheets $ — $ 155 Net amounts of liabilities presented in the consolidated balance sheets $ (791 ) $ (5,052 ) We recognize the impact of our commodity contracts on earnings in “Cost of product sales” on the condensed consolidated statements of comprehensive income, and that impact was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Derivatives Designated as Fair Value Hedging Instruments: (Loss) gain recognized in income on derivative $ (1,134 ) $ 558 $ 1,327 $ (6,246 ) Gain (loss) recognized in income on hedged item 1,111 329 (1,036 ) 10,134 (Loss) gain recognized in income for ineffective portion $ (23 ) $ 887 $ 291 $ 3,888 Derivatives Not Designated as Hedging Instruments: Loss recognized in income on derivative $ (132 ) $ (153 ) $ (218 ) $ (157 ) Our interest rate swaps had the following impact on earnings: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Derivatives Designated as Cash Flow Hedging Instruments: Loss recognized in other comprehensive income on derivative (effective portion) $ (2,064 ) $ (2,035 ) $ (10,005 ) $ (52,213 ) Loss reclassified from AOCI into interest expense, net (effective portion) $ (1,584 ) $ (2,011 ) $ (5,112 ) $ (6,391 ) As of September 30, 2017 , we expect to reclassify a loss of $5.5 million to “Interest expense, net” within the next twelve months associated with unwound forward-starting interest rate swaps.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Employee Transfer from NuStar GP, LLC. On March 1, 2016, NuStar GP, LLC, the general partner of our general partner and a wholly owned subsidiary of NuStar GP Holdings, transferred and assigned to NuStar Services Company LLC (NuStar Services Co), a wholly owned subsidiary of NuStar Energy, all of NuStar GP, LLC’s employees and related benefit plans, programs, contracts and policies (the Employee Transfer). As a result of the Employee Transfer, we pay employee costs directly and sponsor the long-term incentive plan and other employee benefit plans. Please refer to Note 9 for a discussion of our employee benefit plans. GP Services Agreement. Prior to the Employee Transfer, our operations were managed by NuStar GP, LLC under a services agreement effective January 1, 2008, pursuant to which employees of NuStar GP, LLC performed services for our U.S. operations. Employees of NuStar GP, LLC provided services to us and NuStar GP Holdings; therefore, we reimbursed NuStar GP, LLC for all employee costs incurred prior to the Employee Transfer, other than the expenses allocated to NuStar GP Holdings. For the nine months ended September 30, 2016 , we reimbursed NuStar GP, LLC $21.7 million and $10.5 million for operating expenses and general and administrative expenses, respectively. In conjunction with the Employee Transfer, we entered into an Amended and Restated Services Agreement with NuStar GP, LLC, effective March 1, 2016 (the Amended GP Services Agreement). The Amended GP Services Agreement provides that we will furnish administrative services necessary to conduct the business of NuStar GP Holdings. NuStar GP Holdings will compensate us for these services through an annual fee of $1.0 million, subject to adjustment based on the annual merit increase percentage applicable to our employees for the most recently completed fiscal year and for changes in level of service. The Amended GP Services Agreement will terminate on March 1, 2020 and will automatically renew for successive two-year terms, unless terminated by either party.

EMPLOYEE BENEFIT PLANS (Notes)

EMPLOYEE BENEFIT PLANS (Notes)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	EMPLOYEE BENEFIT PLANS Effective March 1, 2016, in connection with the Employee Transfer, we assumed sponsorship and responsibility for the defined benefit plans and defined contribution plans described below. Prior to the Employee Transfer, NuStar GP, LLC sponsored and maintained these employee benefit plans and we reimbursed all costs incurred by NuStar GP, LLC related to these employee benefit plans at cost. The NuStar Pension Plan (the Pension Plan) is a qualified non-contributory defined benefit pension plan that provides eligible U.S. employees with retirement income as calculated under a cash balance formula. The NuStar Excess Pension Plan (the Excess Pension Plan) is a nonqualified deferred compensation plan that provides benefits to a select group of management or other highly compensated employees. The Pension Plan and Excess Pension Plan are collectively referred to as the Pension Plans. In September 2017, we contributed $11.0 million to the Pension Plans. We also sponsor a contributory medical benefits plan for U.S. employees that retired prior to April 1, 2014. For employees that retire on or after April 1, 2014, we provide partial reimbursement for eligible third-party health care premiums. The following table summarizes the components of net periodic benefit cost (income) for the Pension Plans and other postretirement benefits on a combined basis for periods prior to the Employee Transfer and after the Employee Transfer: Pension Plans Other Postretirement Benefits 2017 2016 2017 2016 (Thousands of Dollars) For the three months ended September 30: Service cost $ 2,239 $ 1,926 $ 115 $ 105 Interest cost 1,127 1,006 107 100 Expected return on assets (1,603 ) (1,353 ) — — Amortization of prior service credit (515 ) (516 ) (286 ) (286 ) Amortization of net loss 371 273 47 45 Net periodic benefit cost (income) $ 1,619 $ 1,336 $ (17 ) $ (36 ) For the nine months ended September 30: Service cost $ 6,717 $ 5,778 $ 341 $ 315 Interest cost 3,381 3,018 323 300 Expected return on assets (4,808 ) (4,056 ) — — Amortization of prior service credit (1,546 ) (1,549 ) (858 ) (858 ) Amortization of net loss 1,113 819 143 135 Net periodic benefit cost (income) $ 4,857 $ 4,010 $ (51 ) $ (108 )

PARTNERS' EQUITY

PARTNERS' EQUITY	9 Months Ended
	Sep. 30, 2017
Partners' Capital Notes [Abstract]
PARTNERS' EQUITY	PARTNERS’ EQUITY Amendment of Partnership Agreement In the second quarter of 2017, our general partner amended and restated our partnership agreement in connection with the issuance of the Series B Preferred Units as described below and the Navigator Acquisition to waive up to an aggregate $22.0 million of the quarterly incentive distributions to our general partner for any NS common units issued from the date of the Acquisition Agreement (other than those attributable to NS common units issued under any equity compensation plan) for ten consecutive quarters, starting with the distributions for the second quarter of 2017. Issuance of Common Units On April 18, 2017 , we issued 14,375,000 common units representing limited partner interests at a price of $46.35 per unit. We used the net proceeds from this offering of $657.5 million , including a contribution of $13.6 million from our general partner to maintain its 2% general partner interest, to fund a portion of the purchase price for the Navigator Acquisition. Issuance of Series B Preferred Units On April 28, 2017 , we issued 15,400,000 of our Series B Preferred Units representing limited partner interests at a price of $25.00 per unit. We used the net proceeds of $371.8 million from the issuance of the Series B Preferred Units to fund a portion of the purchase price for the Navigator Acquisition and to pay related fees and expenses. Distributions on the Series B Preferred Units are payable out of any legally available funds, accrue and are cumulative from the date of original issuance of the Series B Preferred Units and are payable on the 15 th day of each of March, June, September and December of each year to holders of record on the first day of each payment month. The initial distribution rate on the Series B Preferred Units to, but not including, June 15, 2022 is 7.625% per annum of the $25.00 liquidation preference per unit (equal to $1.90625 per unit per annum). On and after June 15, 2022, distributions on the Series B Preferred Units accumulate at a percentage of the $25.00 liquidation preference equal to an annual floating rate of the three-month LIBOR plus a spread of 5.643% . The Series B Preferred Units rank equal to our Series A Preferred Units and senior to our common units with respect to distribution rights and rights upon liquidation. At any time on or after June 15, 2022, we may redeem our Series B Preferred Units, in whole or in part, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions to, but not including, the date of redemption, whether or not declared. We may also redeem the Series B Preferred Units upon the occurrence of certain rating events or a change of control as defined in our partnership agreement. In the case of the latter instance, if we choose not to redeem the Series B Preferred Units, the preferred unitholders may have the ability to convert the Series B Preferred Units to common units at the then applicable conversion rate. Holders of the Series B Preferred Units have no voting rights except for certain exceptions set forth in our partnership agreement. Partners’ Equity Activity The following table summarizes changes to our partners’ equity (in thousands of dollars): Balance as of January 1, 2017 $ 1,611,617 Net income 122,782 Unit-based compensation 4,164 Other comprehensive income 10,784 Distributions to partners (358,138 ) Issuance of preferred and common units, including contribution from general partner 1,029,257 Other (604 ) Balance as of September 30, 2017 $ 2,419,862 Accumulated Other Comprehensive Income (Loss) The balance of and changes in the components included in AOCI were as follows: Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total (Thousands of Dollars) Balance as of January 1, 2017 $ (69,069 ) $ (22,258 ) $ (2,850 ) $ (94,177 ) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 16,825 (10,005 ) — 6,820 Net gain on pension costs reclassified into operating expense — — (858 ) (858 ) Net gain on pension costs reclassified into general and administrative expense — — (290 ) (290 ) Net loss on cash flow hedges reclassified into interest expense, net — 5,112 — 5,112 Other comprehensive income (loss) 16,825 (4,893 ) (1,148 ) 10,784 Balance as of September 30, 2017 $ (52,244 ) $ (27,151 ) $ (3,998 ) $ (83,393 ) Allocations of Net Income Our partnership agreement sets forth the calculation to be used to determine the amount and priority of cash distributions that the unitholders and general partner will receive. The partnership agreement also contains provisions for the allocation of net income to the unitholders and the general partner. Our net income for each quarterly reporting period is first allocated to the preferred limited partner unitholders in an amount equal to the earned distributions for the respective reporting period and then to the general partner in an amount equal to the general partner’s incentive distribution calculated based upon the declared distribution for the respective reporting period. We allocate the remaining net income or loss among the common unitholders ( 98% ) and general partner ( 2% ), as set forth in our partnership agreement. The following table details the calculation of net income applicable to the general partner: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Percentage Data) Net income attributable to NuStar Energy L.P. $ 38,592 $ 51,141 $ 122,782 $ 161,059 Less preferred limited partner interest 12,153 — 26,916 — Less general partner incentive distribution 10,912 10,890 34,736 32,500 Net income after general partner incentive distribution and preferred limited partner interest 15,527 40,251 61,130 128,559 General partner interest allocation 2 % 2 % 2 % 2 % General partner interest allocation of net income 311 805 1,223 2,571 General partner incentive distribution 10,912 10,890 34,736 32,500 Net income applicable to general partner $ 11,223 $ 11,695 $ 35,959 $ 35,071 Cash Distributions General Partner and Common Limited Partners . The following table reflects the allocation of total cash distributions to the general partner and common limited partners applicable to the period in which the distributions were earned: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Per Unit Data) General partner interest $ 2,302 $ 1,976 $ 6,947 $ 5,898 General partner incentive distribution 10,912 10,890 34,736 32,500 Total general partner distribution 13,214 12,866 41,683 38,398 Common limited partners’ distribution 101,870 85,943 305,652 256,513 Total cash distributions $ 115,084 $ 98,809 $ 347,335 $ 294,911 Cash distributions per unit applicable to common limited partners $ 1.095 $ 1.095 $ 3.285 $ 3.285 The following table summarizes information related to our quarterly cash distributions to our general partner and common limited partners: Quarter Ended Cash Distributions Per Unit Total Cash Distributions Record Date Payment Date (Thousands of Dollars) September 30, 2017 (a) $ 1.095 $ 115,084 November 9, 2017 November 14, 2017 June 30, 2017 $ 1.095 $ 115,083 August 7, 2017 August 11, 2017 March 31, 2017 $ 1.095 $ 117,168 May 8, 2017 May 12, 2017 December 31, 2016 $ 1.095 $ 98,971 February 8, 2017 February 13, 2017 (a) The distribution was announced on October 18, 2017 . Preferred Units. The following table summarizes information related to our quarterly cash distributions on our Series A and Series B Preferred Units: Period Cash Distributions Per Unit Total Cash Distributions Record Date Payment Date (Thousands of Dollars) Series A Preferred Units: September 15, 2017 - December 14, 2017 (a) $ 0.53125 $ 4,813 December 1, 2017 December 15, 2017 June 15, 2017 - September 14, 2017 $ 0.53125 $ 4,813 September 1, 2017 September 15, 2017 March 15, 2017 - June 14, 2017 $ 0.53125 $ 4,813 June 1, 2017 June 15, 2017 November 25, 2016 - March 14, 2017 $ 0.64930556 $ 5,883 March 1, 2017 March 15, 2017 Series B Preferred Units: September 15, 2017 - December 14, 2017 (a) $ 0.47657 $ 7,339 December 1, 2017 December 15, 2017 April 28, 2017 - September 14, 2017 $ 0.725434028 $ 11,172 September 1, 2017 September 15, 2017 (a) The distribution was announced on October 18, 2017 .

NET INCOME PER COMMON UNIT

NET INCOME PER COMMON UNIT	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
NET INCOME PER COMMON UNIT	NET INCOME PER COMMON UNIT Basic and diluted net income per common unit is determined pursuant to the two-class method. Under this method, all earnings are allocated to our common limited partners and participating securities based on their respective rights to receive distributions earned during the period. Participating securities include our general partner interest and restricted units awarded under our long-term incentive plan. We compute basic net income per common unit by dividing net income attributable to common units by the weighted-average number of common units outstanding during the period. We compute diluted net income per common unit by dividing net income attributable to our common limited partners by the sum of (i) the weighted-average number of common units outstanding during the period and (ii) the effect of dilutive potential common units outstanding during the period. Dilutive potential common units include contingently issuable performance units awarded under our long-term incentive plan. The following table details the calculation of net income per common unit: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Unit and Per Unit Data) Net income attributable to NuStar Energy L.P. $ 38,592 $ 51,141 $ 122,782 $ 161,059 Less: Distributions to general partner (including incentive distribution rights) 13,214 12,866 41,683 38,398 Less: Distributions to common limited partners 101,870 85,943 305,652 256,513 Less: Distributions to preferred limited partners 12,153 — 26,916 — Less: Distribution equivalent rights to restricted units 707 650 2,134 1,969 Distributions in excess of earnings $ (89,352 ) $ (48,318 ) $ (253,603 ) $ (135,821 ) Net income attributable to common units: Distributions to common limited partners $ 101,870 $ 85,943 $ 305,652 $ 256,513 Allocation of distributions in excess of earnings (87,565 ) (47,351 ) (248,531 ) (133,103 ) Total $ 14,305 $ 38,592 $ 57,121 $ 123,410 Basic weighted-average common units outstanding 93,031,320 78,031,053 87,392,597 77,934,802 Diluted common units outstanding: Basic weighted-average common units outstanding 93,031,320 78,031,053 87,392,597 77,934,802 Effect of dilutive potential common units — 31,836 — 46,497 Diluted weighted-average common units outstanding 93,031,320 78,062,889 87,392,597 77,981,299 Basic and diluted net income per common unit $ 0.15 $ 0.49 $ 0.65 $ 1.58

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS	9 Months Ended
	Sep. 30, 2017
Statement of Cash Flows [Abstract]
STATEMENTS OF CASH FLOWS	STATEMENTS OF CASH FLOWS Changes in current assets and current liabilities were as follows: Nine Months Ended September 30, 2017 2016 (Thousands of Dollars) Decrease (increase) in current assets: Accounts receivable $ 24,538 $ (15,200 ) Receivable from related party 236 — Inventories 15,497 3,767 Other current assets 1,176 4,809 Increase (decrease) in current liabilities: Accounts payable (52,910 ) 7,706 Payable to related party, net — 806 Accrued interest payable 7,829 (6,672 ) Accrued liabilities (10,702 ) (7,477 ) Taxes other than income tax 279 3,670 Income tax payable (3,614 ) (3,886 ) Changes in current assets and current liabilities $ (17,671 ) $ (12,477 ) The above changes in current assets and current liabilities differ from changes between amounts reflected in the applicable consolidated balance sheets due to: • current assets and current liabilities acquired during the period; • the change in the amount accrued for capital expenditures; • the effect of foreign currency translation; and • changes in the fair values of our interest rate swap agreements. Cash flows related to interest and income taxes were as follows: Nine Months Ended September 30, 2017 2016 (Thousands of Dollars) Cash paid for interest, net of amount capitalized $ 112,335 $ 112,796 Cash paid for income taxes, net of tax refunds received $ 10,090 $ 9,873

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our reportable business segments consist of pipeline, storage and fuels marketing. Our segments represent strategic business units that offer different services and products. We evaluate the performance of each segment based on its respective operating income, before general and administrative expenses and certain non-segmental depreciation and amortization expense. General and administrative expenses are not allocated to the operating segments since those expenses relate primarily to the overall management at the entity level. Our principal operations include the transportation of petroleum products and anhydrous ammonia, the terminalling and storage of petroleum products and the marketing of petroleum products. Intersegment revenues result from storage agreements with wholly owned subsidiaries of NuStar Energy at rates consistent with the rates charged to third parties for storage. Results of operations for the reportable segments were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Revenues: Pipeline $ 137,426 $ 122,481 $ 385,406 $ 362,929 Storage: Third parties 155,677 152,746 453,995 445,497 Intersegment 2,394 5,021 10,066 16,543 Total storage 158,071 157,767 464,061 462,040 Fuels marketing 147,463 166,191 524,083 476,499 Consolidation and intersegment eliminations (2,394 ) (5,021 ) (10,066 ) (16,543 ) Total revenues $ 440,566 $ 441,418 $ 1,363,484 $ 1,284,925 Operating income (loss): Pipeline $ 61,119 $ 58,922 $ 179,015 $ 186,739 Storage 59,323 58,420 169,131 166,496 Fuels marketing (1,532 ) (337 ) 3,897 282 Consolidation and intersegment eliminations (1 ) (1 ) — — Total segment operating income 118,909 117,004 352,043 353,517 General and administrative expenses 25,003 26,957 83,202 73,399 Other depreciation and amortization expense 2,189 2,093 6,581 6,382 Total operating income $ 91,717 $ 87,954 $ 262,260 $ 273,736 Total assets by reportable segment were as follows: September 30, December 31, (Thousands of Dollars) Pipeline $ 3,451,302 $ 2,024,633 Storage 2,665,426 2,522,586 Fuels marketing 104,140 168,347 Total segment assets 6,220,868 4,715,566 Other partnership assets 197,900 314,979 Total consolidated assets $ 6,418,768 $ 5,030,545

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2017
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS NuStar Energy has no operations and its assets consist mainly of its 100% indirectly owned subsidiaries, NuStar Logistics and NuPOP. The senior and subordinated notes issued by NuStar Logistics are fully and unconditionally guaranteed by NuStar Energy and NuPOP. As a result, the following condensed consolidating financial statements are presented as an alternative to providing separate financial statements for NuStar Logistics and NuPOP. Condensed Consolidating Balance Sheets September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ 894 $ 28 $ — $ 32,693 $ — $ 33,615 Receivables, net — 114 — 152,041 — 152,155 Inventories — 1,733 6,580 14,984 — 23,297 Other current assets 118 9,378 5,405 9,904 — 24,805 Intercompany receivable — 3,183,871 — — (3,183,871 ) — Total current assets 1,012 3,195,124 11,985 209,622 (3,183,871 ) 233,872 Property, plant and equipment, net — 1,904,510 582,390 1,701,249 — 4,188,149 Intangible assets, net — 60,886 — 736,453 — 797,339 Goodwill — 149,453 170,652 775,838 — 1,095,943 Investment in wholly owned subsidiaries 2,992,907 24,152 1,291,487 816,809 (5,125,355 ) — Deferred income tax asset — — — 1,070 — 1,070 Other long-term assets, net 378 65,393 27,782 8,842 — 102,395 Total assets $ 2,994,297 $ 5,399,518 $ 2,084,296 $ 4,249,883 $ (8,309,226 ) $ 6,418,768 Liabilities and Partners’ Equity Accounts payable $ 2,201 $ 24,752 $ 13,812 $ 57,089 $ — $ 97,854 Short-term debt — 68,000 — — — 68,000 Current portion of long-term debt — 350,007 — — — 350,007 Accrued interest payable — 41,780 — 31 — 41,811 Accrued liabilities 822 19,980 10,527 29,137 — 60,466 Taxes other than income tax 63 7,551 4,922 7,404 — 19,940 Income tax payable — 704 3 2,282 — 2,989 Intercompany payable 487,956 — 1,228,444 1,467,471 (3,183,871 ) — Total current liabilities 491,042 512,774 1,257,708 1,563,414 (3,183,871 ) 641,067 Long-term debt — 3,186,908 — 45,691 — 3,232,599 Deferred income tax liability — 1,862 13 21,291 — 23,166 Other long-term liabilities — 48,605 9,895 43,574 — 102,074 Total partners’ equity 2,503,255 1,649,369 816,680 2,575,913 (5,125,355 ) 2,419,862 Total liabilities and partners’ equity $ 2,994,297 $ 5,399,518 $ 2,084,296 $ 4,249,883 $ (8,309,226 ) $ 6,418,768 Condensed Consolidating Balance Sheets December 31, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ 870 $ 5 $ — $ 35,067 $ — $ 35,942 Receivables, net — 3,040 — 167,570 — 170,610 Inventories — 2,216 2,005 33,724 — 37,945 Other current assets 61 120,350 1,829 10,446 — 132,686 Intercompany receivable — 1,308,415 — 57,785 (1,366,200 ) — Total current assets 931 1,434,026 3,834 304,592 (1,366,200 ) 377,183 Property, plant and equipment, net — 1,935,172 589,139 1,197,972 — 3,722,283 Intangible assets, net — 71,033 — 56,050 — 127,083 Goodwill — 149,453 170,652 376,532 — 696,637 Investment in wholly owned subsidiaries 1,964,736 34,778 1,221,717 874,649 (4,095,880 ) — Deferred income tax asset — — — 2,051 — 2,051 Other long-term assets, net 1,255 63,586 28,587 11,880 — 105,308 Total assets $ 1,966,922 $ 3,688,048 $ 2,013,929 $ 2,823,726 $ (5,462,080 ) $ 5,030,545 Liabilities and Partners’ Equity Accounts payable $ 2,436 $ 24,272 $ 7,124 $ 84,854 $ — $ 118,686 Short-term debt — 54,000 — — — 54,000 Accrued interest payable — 34,008 — 22 — 34,030 Accrued liabilities 1,070 7,118 10,766 41,531 — 60,485 Taxes other than income tax 125 6,854 3,253 5,453 — 15,685 Income tax payable — 1,326 5 5,179 — 6,510 Intercompany payable 257,497 — 1,108,703 — (1,366,200 ) — Total current liabilities 261,128 127,578 1,129,851 137,039 (1,366,200 ) 289,396 Long-term debt — 2,956,338 — 58,026 — 3,014,364 Deferred income tax liability — 1,862 13 20,329 — 22,204 Other long-term liabilities — 34,358 9,436 49,170 — 92,964 Total partners’ equity 1,705,794 567,912 874,629 2,559,162 (4,095,880 ) 1,611,617 Total liabilities and partners’ equity $ 1,966,922 $ 3,688,048 $ 2,013,929 $ 2,823,726 $ (5,462,080 ) $ 5,030,545 Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 127,980 $ 58,871 $ 253,854 $ (139 ) $ 440,566 Costs and expenses 332 77,668 38,709 232,279 (139 ) 348,849 Operating (loss) income (332 ) 50,312 20,162 21,575 — 91,717 Equity in earnings (loss) of subsidiaries 38,896 (4,558 ) 20,809 39,508 (94,655 ) — Interest income (expense), net 28 (46,247 ) (1,455 ) 2,418 — (45,256 ) Other income (expense), net — 57 (8 ) (5,175 ) — (5,126 ) Income (loss) before income tax expense 38,592 (436 ) 39,508 58,326 (94,655 ) 41,335 Income tax expense — 115 1 2,627 — 2,743 Net income (loss) $ 38,592 $ (551 ) $ 39,507 $ 55,699 $ (94,655 ) $ 38,592 Comprehensive income (loss) $ 38,592 $ (1,031 ) $ 39,507 $ 62,069 $ (94,655 ) $ 44,482 Condensed Consolidating Statements of Comprehensive Income For the Three Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 131,696 $ 53,158 $ 256,925 $ (361 ) $ 441,418 Costs and expenses 252 79,443 37,957 236,173 (361 ) 353,464 Operating (loss) income (252 ) 52,253 15,201 20,752 — 87,954 Equity in earnings (loss) of subsidiaries 51,397 (44 ) 25,819 43,205 (120,377 ) — Interest (expense) income, net — (43,832 ) 2,165 6,645 — (35,022 ) Other (expense) income, net (4 ) 378 (8 ) (4 ) — 362 Income before income tax expense (benefit) 51,141 8,755 43,177 70,598 (120,377 ) 53,294 Income tax expense (benefit) — 588 (29 ) 1,594 — 2,153 Net income $ 51,141 $ 8,167 $ 43,206 $ 69,004 $ (120,377 ) $ 51,141 Comprehensive income $ 51,141 $ 8,143 $ 43,206 $ 66,539 $ (120,377 ) $ 48,652 Condensed Consolidating Statements of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 380,504 $ 161,689 $ 822,064 $ (773 ) $ 1,363,484 Costs and expenses 1,327 237,086 106,296 757,288 (773 ) 1,101,224 Operating (loss) income (1,327 ) 143,418 55,393 64,776 — 262,260 Equity in earnings (loss) of subsidiaries 124,073 (10,625 ) 69,770 121,002 (304,220 ) — Interest income (expense), net 36 (129,551 ) (4,160 ) 6,393 — (127,282 ) Other income (expense), net — 140 1 (5,039 ) — (4,898 ) Income before income tax expense 122,782 3,382 121,004 187,132 (304,220 ) 130,080 Income tax expense — 81 3 7,214 — 7,298 Net income $ 122,782 $ 3,301 $ 121,001 $ 179,918 $ (304,220 ) $ 122,782 Comprehensive income (loss) $ 122,782 $ (1,592 ) $ 121,001 $ 195,595 $ (304,220 ) $ 133,566 Condensed Consolidating Statements of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 383,836 $ 159,272 $ 742,890 $ (1,073 ) $ 1,284,925 Costs and expenses 1,204 221,839 104,958 684,261 (1,073 ) 1,011,189 Operating (loss) income (1,204 ) 161,997 54,314 58,629 — 273,736 Equity in earnings (loss) of subsidiaries 162,248 (5,362 ) 71,273 131,294 (359,453 ) — Interest (expense) income, net — (124,619 ) 5,699 15,546 — (103,374 ) Other income (expense), net 18 400 (18 ) (410 ) — (10 ) Income before income tax expense (benefit) 161,062 32,416 131,268 205,059 (359,453 ) 170,352 Income tax expense (benefit) 3 1,281 (24 ) 8,033 — 9,293 Net income $ 161,059 $ 31,135 $ 131,292 $ 197,026 $ (359,453 ) $ 161,059 Comprehensive income (loss) $ 161,059 $ (14,687 ) $ 131,292 $ 202,242 $ (359,453 ) $ 120,453 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ 355,864 $ 128,395 $ 72,711 $ 290,917 $ (536,872 ) $ 311,015 Cash flows from investing activities: Capital expenditures — (34,964 ) (18,138 ) (167,515 ) — (220,617 ) Change in accounts payable related to capital expenditures — (1,223 ) 4,445 10,050 — 13,272 Proceeds from sale or disposition of assets — 1,947 17 59 — 2,023 Investment in subsidiaries (1,262,000 ) — — (126 ) 1,262,126 — Proceeds from Axeon term loan — 110,000 — — — 110,000 Acquisitions — — — (1,461,719 ) — (1,461,719 ) Net cash (used in) provided by investing activities (1,262,000 ) 75,760 (13,676 ) (1,619,251 ) 1,262,126 (1,557,041 ) Cash flows from financing activities: Debt borrowings — 1,901,504 — 69,700 — 1,971,204 Note offering, net of issuance costs — 543,313 — — — 543,313 Debt repayments — (1,856,739 ) — (82,000 ) — (1,938,739 ) Issuance of preferred units, net of issuance costs 371,802 — — — — 371,802 Issuance of common units, net of issuance costs 643,858 — — — — 643,858 General partner contribution 13,597 — — — — 13,597 Distributions to preferred unitholders (26,681 ) (13,340 ) (13,341 ) (13,342 ) 40,023 (26,681 ) Distributions to common unitholders and general partner (331,222 ) (165,611 ) (165,611 ) (165,627 ) 496,849 (331,222 ) Contributions from affiliates — 1,262,000 — 126 (1,262,126 ) — Net intercompany activity 238,172 (1,873,773 ) 119,917 1,515,684 — — Other, net (3,366 ) (1,486 ) — (218 ) — (5,070 ) Net cash provided by (used in) financing activities 906,160 (204,132 ) (59,035 ) 1,324,323 (725,254 ) 1,242,062 Effect of foreign exchange rate changes on cash — — — 1,637 — 1,637 Net increase (decrease) in cash and cash equivalents 24 23 — (2,374 ) — (2,327 ) Cash and cash equivalents as of the beginning of the period 870 5 — 35,067 — 35,942 Cash and cash equivalents as of the end of the period $ 894 $ 28 $ — $ 32,693 $ — $ 33,615 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ 292,572 $ 97,253 $ 118,436 $ 281,544 $ (475,256 ) $ 314,549 Cash flows from investing activities: Capital expenditures — (53,491 ) (43,329 ) (48,594 ) — (145,414 ) Change in accounts payable related to capital expenditures — (15,086 ) 2,645 (3,063 ) — (15,504 ) Investment in subsidiaries — — (212,900 ) — 212,900 — Net cash used in investing activities — (68,577 ) (253,584 ) (51,657 ) 212,900 (160,918 ) Cash flows from financing activities: Debt borrowings — 965,082 — 20,900 — 985,982 Debt repayments — (918,550 ) — (31,200 ) — (949,750 ) Issuance of common units, net of issuance costs 27,710 — — — — 27,710 General partner contribution 575 — — — — 575 Distributions to common unitholders and general partner (294,153 ) (147,076 ) (147,077 ) (147,093 ) 441,246 (294,153 ) Contributions from affiliates — — — 178,890 (178,890 ) — Net intercompany activity (25,372 ) 75,165 282,226 (332,019 ) — — Other, net (1,406 ) (3,298 ) (1 ) (8,894 ) — (13,599 ) Net cash (used in) provided by financing activities (292,646 ) (28,677 ) 135,148 (319,416 ) 262,356 (243,235 ) Effect of foreign exchange rate changes on cash — — — 3,404 — 3,404 Net decrease in cash and cash equivalents (74 ) (1 ) — (86,125 ) — (86,200 ) Cash and cash equivalents as of the beginning of the period 885 4 — 117,973 — 118,862 Cash and cash equivalents as of the end of the period $ 811 $ 3 $ — $ 31,848 $ — $ 32,662

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The following table reflects the preliminary purchase price allocation as of September 30, 2017 : Preliminary Purchase Price Allocation (Thousands of Dollars) Accounts receivable $ 4,747 Other current assets 2,436 Property, plant and equipment, net 376,690 Intangible assets (a) 700,000 Goodwill (b) 399,306 Other long-term assets, net 2,125 Current liabilities (23,585 ) Preliminary purchase price allocation, net of cash acquired $ 1,461,719 (a) Intangible assets, which consist of customer contracts and relationships, are expected to be amortized over a weighted average period of 20 years . (b) The goodwill acquired represents the expected benefit from entering new geographic areas and the anticipated opportunities to generate future cash flows from the assets acquired and potential future projects.
Navigator Acquisition Additional Financial Information [Table Text Block]	The table below presents certain financial information included on the condensed consolidated statements of comprehensive income related to the Navigator Acquisition: Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 (Thousands of Dollars) Permian Crude System: Revenues $ 15,663 $ 25,142 Operating income (loss) $ 1,050 $ (2,374 ) Transaction costs: General and administrative expenses $ 169 $ 10,359 Interest expense, net — 3,688 Total transaction costs $ 169 $ 14,047
Business Acquisition, Pro Forma Information [Table Text Block]	The unaudited pro forma information for the three and nine months ended September 30, 2017 and 2016 presented below combines the historical financial information for Navigator and the Partnership for those periods. The information assumes we completed the Navigator Acquisition on January 1, 2016 and the following: • we issued approximately 14.4 million common units; • we received a contribution from our general partner of $13.6 million to maintain its 2% interest; • we issued 15.4 million Series B Preferred Units; • we issued $550.0 million of 5.625% senior notes; • additional depreciation and amortization that would have been incurred assuming the fair value adjustments to property, plant and equipment and intangible assets reflected in the preliminary purchase price allocation above; and • we satisfied Navigator’s outstanding obligations under its revolving credit agreement. Three Months Ended September 30, Nine Months Ended September 30, 2017 (a) 2016 2017 2016 (Thousands of Dollars, Except Per Unit Data) Revenues $ 440,566 $ 449,250 $ 1,377,883 $ 1,301,419 Net income $ 38,592 $ 34,417 $ 102,251 $ 104,535 Basic and diluted net income per common unit $ 0.15 $ 0.16 $ 0.31 $ 0.50 (a) Represents actual results of operations.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following assets and liabilities are measured at fair value on a recurring basis: September 30, 2017 Level 1 Level 2 Level 3 Total (Thousands of Dollars) Assets: Other current assets: Product imbalances $ 6,960 $ — $ — $ 6,960 Liabilities: Accrued liabilities: Product imbalances $ (2,164 ) $ — $ — $ (2,164 ) Commodity derivatives (791 ) — — (791 ) Interest rate swaps — (7,280 ) — (7,280 ) Other long-term liabilities: Interest rate swaps — (4,043 ) — (4,043 ) Total $ (2,955 ) $ (11,323 ) $ — $ (14,278 ) December 31, 2016 Level 1 Level 2 Level 3 Total (Thousands of Dollars) Assets: Other current assets: Product imbalances $ 1,551 $ — $ — $ 1,551 Commodity derivatives — 155 — 155 Other long-term assets, net: Interest rate swaps — 1,314 — 1,314 Total $ 1,551 $ 1,469 $ — $ 3,020 Liabilities: Accrued liabilities: Product imbalances $ (1,577 ) $ — $ — $ (1,577 ) Commodity derivatives (4,887 ) (165 ) — (5,052 ) Other long-term liabilities: Guarantee liability — — (1,230 ) (1,230 ) Interest rate swaps — (2,632 ) — (2,632 ) Total $ (6,464 ) $ (2,797 ) $ (1,230 ) $ (10,491 )
Fair Value and Carrying Value of Debt and Note Receivable [Table Text Block]	The estimated fair values and carrying amounts of long-term debt, including the current portion, and the Axeon Term Loan were as follows: September 30, 2017 December 31, 2016 Long-term Debt Long-term Debt Axeon Term Loan (Thousands of Dollars) Fair value $ 3,694,877 $ 3,084,762 $ 110,000 Carrying amount $ 3,582,606 $ 3,014,364 $ 110,000

DERIVATIVES AND RISK MANAGEME22

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The fair values of our derivative instruments included in our consolidated balance sheets were as follows: Asset Derivatives Liability Derivatives Balance Sheet Location September 30, December 31, September 30, December 31, (Thousands of Dollars) Derivatives Designated as Hedging Instruments: Interest rate swaps Other long-term assets, net $ — $ 1,314 $ — $ — Commodity contracts Accrued liabilities 18 144 (2 ) (3,566 ) Interest rate swaps Accrued liabilities — — (7,280 ) — Interest rate swaps Other long-term liabilities — — (4,043 ) (2,632 ) Total 18 1,458 (11,325 ) (6,198 ) Derivatives Not Designated as Hedging Instruments: Commodity contracts Other current assets — 265 — (110 ) Commodity contracts Accrued liabilities 655 9,128 (1,462 ) (10,758 ) Total 655 9,393 (1,462 ) (10,868 ) Total Derivatives $ 673 $ 10,851 $ (12,787 ) $ (17,066 )
Derivatives Assets And Liabilities Eligible for Offset Net [Table Text Block]	The following are the net amounts presented on the consolidated balance sheets: Commodity Contracts September 30, December 31, (Thousands of Dollars) Net amounts of assets presented in the consolidated balance sheets $ — $ 155 Net amounts of liabilities presented in the consolidated balance sheets $ (791 ) $ (5,052 )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Text Block]	We recognize the impact of our commodity contracts on earnings in “Cost of product sales” on the condensed consolidated statements of comprehensive income, and that impact was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Derivatives Designated as Fair Value Hedging Instruments: (Loss) gain recognized in income on derivative $ (1,134 ) $ 558 $ 1,327 $ (6,246 ) Gain (loss) recognized in income on hedged item 1,111 329 (1,036 ) 10,134 (Loss) gain recognized in income for ineffective portion $ (23 ) $ 887 $ 291 $ 3,888 Derivatives Not Designated as Hedging Instruments: Loss recognized in income on derivative $ (132 ) $ (153 ) $ (218 ) $ (157 ) Our interest rate swaps had the following impact on earnings: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Derivatives Designated as Cash Flow Hedging Instruments: Loss recognized in other comprehensive income on derivative (effective portion) $ (2,064 ) $ (2,035 ) $ (10,005 ) $ (52,213 ) Loss reclassified from AOCI into interest expense, net (effective portion) $ (1,584 ) $ (2,011 ) $ (5,112 ) $ (6,391 )

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The following table summarizes the components of net periodic benefit cost (income) for the Pension Plans and other postretirement benefits on a combined basis for periods prior to the Employee Transfer and after the Employee Transfer: Pension Plans Other Postretirement Benefits 2017 2016 2017 2016 (Thousands of Dollars) For the three months ended September 30: Service cost $ 2,239 $ 1,926 $ 115 $ 105 Interest cost 1,127 1,006 107 100 Expected return on assets (1,603 ) (1,353 ) — — Amortization of prior service credit (515 ) (516 ) (286 ) (286 ) Amortization of net loss 371 273 47 45 Net periodic benefit cost (income) $ 1,619 $ 1,336 $ (17 ) $ (36 ) For the nine months ended September 30: Service cost $ 6,717 $ 5,778 $ 341 $ 315 Interest cost 3,381 3,018 323 300 Expected return on assets (4,808 ) (4,056 ) — — Amortization of prior service credit (1,546 ) (1,549 ) (858 ) (858 ) Amortization of net loss 1,113 819 143 135 Net periodic benefit cost (income) $ 4,857 $ 4,010 $ (51 ) $ (108 )

PARTNERS' EQUITY (Tables)

PARTNERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2017
Partners' Capital Notes [Abstract]
Schedule of Changes in Partners' Equity	The following table summarizes changes to our partners’ equity (in thousands of dollars): Balance as of January 1, 2017 $ 1,611,617 Net income 122,782 Unit-based compensation 4,164 Other comprehensive income 10,784 Distributions to partners (358,138 ) Issuance of preferred and common units, including contribution from general partner 1,029,257 Other (604 ) Balance as of September 30, 2017 $ 2,419,862
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The balance of and changes in the components included in AOCI were as follows: Foreign Currency Translation Cash Flow Hedges Pension and Other Postretirement Benefits Total (Thousands of Dollars) Balance as of January 1, 2017 $ (69,069 ) $ (22,258 ) $ (2,850 ) $ (94,177 ) Other comprehensive income (loss): Other comprehensive income (loss) before reclassification adjustments 16,825 (10,005 ) — 6,820 Net gain on pension costs reclassified into operating expense — — (858 ) (858 ) Net gain on pension costs reclassified into general and administrative expense — — (290 ) (290 ) Net loss on cash flow hedges reclassified into interest expense, net — 5,112 — 5,112 Other comprehensive income (loss) 16,825 (4,893 ) (1,148 ) 10,784 Balance as of September 30, 2017 $ (52,244 ) $ (27,151 ) $ (3,998 ) $ (83,393 )
Schedule of Calculation of Net Income Applicable to General Partner [Text Block]	The following table details the calculation of net income applicable to the general partner: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Percentage Data) Net income attributable to NuStar Energy L.P. $ 38,592 $ 51,141 $ 122,782 $ 161,059 Less preferred limited partner interest 12,153 — 26,916 — Less general partner incentive distribution 10,912 10,890 34,736 32,500 Net income after general partner incentive distribution and preferred limited partner interest 15,527 40,251 61,130 128,559 General partner interest allocation 2 % 2 % 2 % 2 % General partner interest allocation of net income 311 805 1,223 2,571 General partner incentive distribution 10,912 10,890 34,736 32,500 Net income applicable to general partner $ 11,223 $ 11,695 $ 35,959 $ 35,071
Schedule of Distributions To General and Common Limited Partners [Text Block]	The following table reflects the allocation of total cash distributions to the general partner and common limited partners applicable to the period in which the distributions were earned: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Per Unit Data) General partner interest $ 2,302 $ 1,976 $ 6,947 $ 5,898 General partner incentive distribution 10,912 10,890 34,736 32,500 Total general partner distribution 13,214 12,866 41,683 38,398 Common limited partners’ distribution 101,870 85,943 305,652 256,513 Total cash distributions $ 115,084 $ 98,809 $ 347,335 $ 294,911 Cash distributions per unit applicable to common limited partners $ 1.095 $ 1.095 $ 3.285 $ 3.285
Distributions Made to Common Limited and General Partners, by Distribution [Table Text Block]	The following table summarizes information related to our quarterly cash distributions to our general partner and common limited partners: Quarter Ended Cash Distributions Per Unit Total Cash Distributions Record Date Payment Date (Thousands of Dollars) September 30, 2017 (a) $ 1.095 $ 115,084 November 9, 2017 November 14, 2017 June 30, 2017 $ 1.095 $ 115,083 August 7, 2017 August 11, 2017 March 31, 2017 $ 1.095 $ 117,168 May 8, 2017 May 12, 2017 December 31, 2016 $ 1.095 $ 98,971 February 8, 2017 February 13, 2017 (a) The distribution was announced on October 18, 2017 .
Distributions Made to Preferred Limited Partner by Distribution [Table Text Block]	The following table summarizes information related to our quarterly cash distributions on our Series A and Series B Preferred Units: Period Cash Distributions Per Unit Total Cash Distributions Record Date Payment Date (Thousands of Dollars) Series A Preferred Units: September 15, 2017 - December 14, 2017 (a) $ 0.53125 $ 4,813 December 1, 2017 December 15, 2017 June 15, 2017 - September 14, 2017 $ 0.53125 $ 4,813 September 1, 2017 September 15, 2017 March 15, 2017 - June 14, 2017 $ 0.53125 $ 4,813 June 1, 2017 June 15, 2017 November 25, 2016 - March 14, 2017 $ 0.64930556 $ 5,883 March 1, 2017 March 15, 2017 Series B Preferred Units: September 15, 2017 - December 14, 2017 (a) $ 0.47657 $ 7,339 December 1, 2017 December 15, 2017 April 28, 2017 - September 14, 2017 $ 0.725434028 $ 11,172 September 1, 2017 September 15, 2017 (a) The distribution was announced on October 18, 2017 .

NET INCOME PER COMMON UNIT (Tab

NET INCOME PER COMMON UNIT (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Net Income Per Common Unit	The following table details the calculation of net income per common unit: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars, Except Unit and Per Unit Data) Net income attributable to NuStar Energy L.P. $ 38,592 $ 51,141 $ 122,782 $ 161,059 Less: Distributions to general partner (including incentive distribution rights) 13,214 12,866 41,683 38,398 Less: Distributions to common limited partners 101,870 85,943 305,652 256,513 Less: Distributions to preferred limited partners 12,153 — 26,916 — Less: Distribution equivalent rights to restricted units 707 650 2,134 1,969 Distributions in excess of earnings $ (89,352 ) $ (48,318 ) $ (253,603 ) $ (135,821 ) Net income attributable to common units: Distributions to common limited partners $ 101,870 $ 85,943 $ 305,652 $ 256,513 Allocation of distributions in excess of earnings (87,565 ) (47,351 ) (248,531 ) (133,103 ) Total $ 14,305 $ 38,592 $ 57,121 $ 123,410 Basic weighted-average common units outstanding 93,031,320 78,031,053 87,392,597 77,934,802 Diluted common units outstanding: Basic weighted-average common units outstanding 93,031,320 78,031,053 87,392,597 77,934,802 Effect of dilutive potential common units — 31,836 — 46,497 Diluted weighted-average common units outstanding 93,031,320 78,062,889 87,392,597 77,981,299 Basic and diluted net income per common unit $ 0.15 $ 0.49 $ 0.65 $ 1.58

STATEMENTS OF CASH FLOWS (Table

STATEMENTS OF CASH FLOWS (Tables)	9 Months Ended
	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Schedule of Changes in Current Assets and Liabilities [Text Block]	Changes in current assets and current liabilities were as follows: Nine Months Ended September 30, 2017 2016 (Thousands of Dollars) Decrease (increase) in current assets: Accounts receivable $ 24,538 $ (15,200 ) Receivable from related party 236 — Inventories 15,497 3,767 Other current assets 1,176 4,809 Increase (decrease) in current liabilities: Accounts payable (52,910 ) 7,706 Payable to related party, net — 806 Accrued interest payable 7,829 (6,672 ) Accrued liabilities (10,702 ) (7,477 ) Taxes other than income tax 279 3,670 Income tax payable (3,614 ) (3,886 ) Changes in current assets and current liabilities $ (17,671 ) $ (12,477 )
Schedule of Supplemental Cash Flow Information [Text Block]	Cash flows related to interest and income taxes were as follows: Nine Months Ended September 30, 2017 2016 (Thousands of Dollars) Cash paid for interest, net of amount capitalized $ 112,335 $ 112,796 Cash paid for income taxes, net of tax refunds received $ 10,090 $ 9,873

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Results of operations for the reportable segments were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 (Thousands of Dollars) Revenues: Pipeline $ 137,426 $ 122,481 $ 385,406 $ 362,929 Storage: Third parties 155,677 152,746 453,995 445,497 Intersegment 2,394 5,021 10,066 16,543 Total storage 158,071 157,767 464,061 462,040 Fuels marketing 147,463 166,191 524,083 476,499 Consolidation and intersegment eliminations (2,394 ) (5,021 ) (10,066 ) (16,543 ) Total revenues $ 440,566 $ 441,418 $ 1,363,484 $ 1,284,925 Operating income (loss): Pipeline $ 61,119 $ 58,922 $ 179,015 $ 186,739 Storage 59,323 58,420 169,131 166,496 Fuels marketing (1,532 ) (337 ) 3,897 282 Consolidation and intersegment eliminations (1 ) (1 ) — — Total segment operating income 118,909 117,004 352,043 353,517 General and administrative expenses 25,003 26,957 83,202 73,399 Other depreciation and amortization expense 2,189 2,093 6,581 6,382 Total operating income $ 91,717 $ 87,954 $ 262,260 $ 273,736
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Total assets by reportable segment were as follows: September 30, December 31, (Thousands of Dollars) Pipeline $ 3,451,302 $ 2,024,633 Storage 2,665,426 2,522,586 Fuels marketing 104,140 168,347 Total segment assets 6,220,868 4,715,566 Other partnership assets 197,900 314,979 Total consolidated assets $ 6,418,768 $ 5,030,545

CONDENSED CONSOLIDATING FINAN28

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS [Abstract]
Condensed Consolidating Balance Sheets [Text Block]	Condensed Consolidating Balance Sheets September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ 894 $ 28 $ — $ 32,693 $ — $ 33,615 Receivables, net — 114 — 152,041 — 152,155 Inventories — 1,733 6,580 14,984 — 23,297 Other current assets 118 9,378 5,405 9,904 — 24,805 Intercompany receivable — 3,183,871 — — (3,183,871 ) — Total current assets 1,012 3,195,124 11,985 209,622 (3,183,871 ) 233,872 Property, plant and equipment, net — 1,904,510 582,390 1,701,249 — 4,188,149 Intangible assets, net — 60,886 — 736,453 — 797,339 Goodwill — 149,453 170,652 775,838 — 1,095,943 Investment in wholly owned subsidiaries 2,992,907 24,152 1,291,487 816,809 (5,125,355 ) — Deferred income tax asset — — — 1,070 — 1,070 Other long-term assets, net 378 65,393 27,782 8,842 — 102,395 Total assets $ 2,994,297 $ 5,399,518 $ 2,084,296 $ 4,249,883 $ (8,309,226 ) $ 6,418,768 Liabilities and Partners’ Equity Accounts payable $ 2,201 $ 24,752 $ 13,812 $ 57,089 $ — $ 97,854 Short-term debt — 68,000 — — — 68,000 Current portion of long-term debt — 350,007 — — — 350,007 Accrued interest payable — 41,780 — 31 — 41,811 Accrued liabilities 822 19,980 10,527 29,137 — 60,466 Taxes other than income tax 63 7,551 4,922 7,404 — 19,940 Income tax payable — 704 3 2,282 — 2,989 Intercompany payable 487,956 — 1,228,444 1,467,471 (3,183,871 ) — Total current liabilities 491,042 512,774 1,257,708 1,563,414 (3,183,871 ) 641,067 Long-term debt — 3,186,908 — 45,691 — 3,232,599 Deferred income tax liability — 1,862 13 21,291 — 23,166 Other long-term liabilities — 48,605 9,895 43,574 — 102,074 Total partners’ equity 2,503,255 1,649,369 816,680 2,575,913 (5,125,355 ) 2,419,862 Total liabilities and partners’ equity $ 2,994,297 $ 5,399,518 $ 2,084,296 $ 4,249,883 $ (8,309,226 ) $ 6,418,768 Condensed Consolidating Balance Sheets December 31, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Assets Cash and cash equivalents $ 870 $ 5 $ — $ 35,067 $ — $ 35,942 Receivables, net — 3,040 — 167,570 — 170,610 Inventories — 2,216 2,005 33,724 — 37,945 Other current assets 61 120,350 1,829 10,446 — 132,686 Intercompany receivable — 1,308,415 — 57,785 (1,366,200 ) — Total current assets 931 1,434,026 3,834 304,592 (1,366,200 ) 377,183 Property, plant and equipment, net — 1,935,172 589,139 1,197,972 — 3,722,283 Intangible assets, net — 71,033 — 56,050 — 127,083 Goodwill — 149,453 170,652 376,532 — 696,637 Investment in wholly owned subsidiaries 1,964,736 34,778 1,221,717 874,649 (4,095,880 ) — Deferred income tax asset — — — 2,051 — 2,051 Other long-term assets, net 1,255 63,586 28,587 11,880 — 105,308 Total assets $ 1,966,922 $ 3,688,048 $ 2,013,929 $ 2,823,726 $ (5,462,080 ) $ 5,030,545 Liabilities and Partners’ Equity Accounts payable $ 2,436 $ 24,272 $ 7,124 $ 84,854 $ — $ 118,686 Short-term debt — 54,000 — — — 54,000 Accrued interest payable — 34,008 — 22 — 34,030 Accrued liabilities 1,070 7,118 10,766 41,531 — 60,485 Taxes other than income tax 125 6,854 3,253 5,453 — 15,685 Income tax payable — 1,326 5 5,179 — 6,510 Intercompany payable 257,497 — 1,108,703 — (1,366,200 ) — Total current liabilities 261,128 127,578 1,129,851 137,039 (1,366,200 ) 289,396 Long-term debt — 2,956,338 — 58,026 — 3,014,364 Deferred income tax liability — 1,862 13 20,329 — 22,204 Other long-term liabilities — 34,358 9,436 49,170 — 92,964 Total partners’ equity 1,705,794 567,912 874,629 2,559,162 (4,095,880 ) 1,611,617 Total liabilities and partners’ equity $ 1,966,922 $ 3,688,048 $ 2,013,929 $ 2,823,726 $ (5,462,080 ) $ 5,030,545
Condensed Consolidating Statements of Comprehensive Income (Loss) [Table Text Block]	Condensed Consolidating Statements of Comprehensive Income (Loss) For the Three Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 127,980 $ 58,871 $ 253,854 $ (139 ) $ 440,566 Costs and expenses 332 77,668 38,709 232,279 (139 ) 348,849 Operating (loss) income (332 ) 50,312 20,162 21,575 — 91,717 Equity in earnings (loss) of subsidiaries 38,896 (4,558 ) 20,809 39,508 (94,655 ) — Interest income (expense), net 28 (46,247 ) (1,455 ) 2,418 — (45,256 ) Other income (expense), net — 57 (8 ) (5,175 ) — (5,126 ) Income (loss) before income tax expense 38,592 (436 ) 39,508 58,326 (94,655 ) 41,335 Income tax expense — 115 1 2,627 — 2,743 Net income (loss) $ 38,592 $ (551 ) $ 39,507 $ 55,699 $ (94,655 ) $ 38,592 Comprehensive income (loss) $ 38,592 $ (1,031 ) $ 39,507 $ 62,069 $ (94,655 ) $ 44,482 Condensed Consolidating Statements of Comprehensive Income For the Three Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 131,696 $ 53,158 $ 256,925 $ (361 ) $ 441,418 Costs and expenses 252 79,443 37,957 236,173 (361 ) 353,464 Operating (loss) income (252 ) 52,253 15,201 20,752 — 87,954 Equity in earnings (loss) of subsidiaries 51,397 (44 ) 25,819 43,205 (120,377 ) — Interest (expense) income, net — (43,832 ) 2,165 6,645 — (35,022 ) Other (expense) income, net (4 ) 378 (8 ) (4 ) — 362 Income before income tax expense (benefit) 51,141 8,755 43,177 70,598 (120,377 ) 53,294 Income tax expense (benefit) — 588 (29 ) 1,594 — 2,153 Net income $ 51,141 $ 8,167 $ 43,206 $ 69,004 $ (120,377 ) $ 51,141 Comprehensive income $ 51,141 $ 8,143 $ 43,206 $ 66,539 $ (120,377 ) $ 48,652 Condensed Consolidating Statements of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 380,504 $ 161,689 $ 822,064 $ (773 ) $ 1,363,484 Costs and expenses 1,327 237,086 106,296 757,288 (773 ) 1,101,224 Operating (loss) income (1,327 ) 143,418 55,393 64,776 — 262,260 Equity in earnings (loss) of subsidiaries 124,073 (10,625 ) 69,770 121,002 (304,220 ) — Interest income (expense), net 36 (129,551 ) (4,160 ) 6,393 — (127,282 ) Other income (expense), net — 140 1 (5,039 ) — (4,898 ) Income before income tax expense 122,782 3,382 121,004 187,132 (304,220 ) 130,080 Income tax expense — 81 3 7,214 — 7,298 Net income $ 122,782 $ 3,301 $ 121,001 $ 179,918 $ (304,220 ) $ 122,782 Comprehensive income (loss) $ 122,782 $ (1,592 ) $ 121,001 $ 195,595 $ (304,220 ) $ 133,566 Condensed Consolidating Statements of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 383,836 $ 159,272 $ 742,890 $ (1,073 ) $ 1,284,925 Costs and expenses 1,204 221,839 104,958 684,261 (1,073 ) 1,011,189 Operating (loss) income (1,204 ) 161,997 54,314 58,629 — 273,736 Equity in earnings (loss) of subsidiaries 162,248 (5,362 ) 71,273 131,294 (359,453 ) — Interest (expense) income, net — (124,619 ) 5,699 15,546 — (103,374 ) Other income (expense), net 18 400 (18 ) (410 ) — (10 ) Income before income tax expense (benefit) 161,062 32,416 131,268 205,059 (359,453 ) 170,352 Income tax expense (benefit) 3 1,281 (24 ) 8,033 — 9,293 Net income $ 161,059 $ 31,135 $ 131,292 $ 197,026 $ (359,453 ) $ 161,059 Comprehensive income (loss) $ 161,059 $ (14,687 ) $ 131,292 $ 202,242 $ (359,453 ) $ 120,453
Condensed Consolidating Statements of Cash Flows [Text Block]	Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2017 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ 355,864 $ 128,395 $ 72,711 $ 290,917 $ (536,872 ) $ 311,015 Cash flows from investing activities: Capital expenditures — (34,964 ) (18,138 ) (167,515 ) — (220,617 ) Change in accounts payable related to capital expenditures — (1,223 ) 4,445 10,050 — 13,272 Proceeds from sale or disposition of assets — 1,947 17 59 — 2,023 Investment in subsidiaries (1,262,000 ) — — (126 ) 1,262,126 — Proceeds from Axeon term loan — 110,000 — — — 110,000 Acquisitions — — — (1,461,719 ) — (1,461,719 ) Net cash (used in) provided by investing activities (1,262,000 ) 75,760 (13,676 ) (1,619,251 ) 1,262,126 (1,557,041 ) Cash flows from financing activities: Debt borrowings — 1,901,504 — 69,700 — 1,971,204 Note offering, net of issuance costs — 543,313 — — — 543,313 Debt repayments — (1,856,739 ) — (82,000 ) — (1,938,739 ) Issuance of preferred units, net of issuance costs 371,802 — — — — 371,802 Issuance of common units, net of issuance costs 643,858 — — — — 643,858 General partner contribution 13,597 — — — — 13,597 Distributions to preferred unitholders (26,681 ) (13,340 ) (13,341 ) (13,342 ) 40,023 (26,681 ) Distributions to common unitholders and general partner (331,222 ) (165,611 ) (165,611 ) (165,627 ) 496,849 (331,222 ) Contributions from affiliates — 1,262,000 — 126 (1,262,126 ) — Net intercompany activity 238,172 (1,873,773 ) 119,917 1,515,684 — — Other, net (3,366 ) (1,486 ) — (218 ) — (5,070 ) Net cash provided by (used in) financing activities 906,160 (204,132 ) (59,035 ) 1,324,323 (725,254 ) 1,242,062 Effect of foreign exchange rate changes on cash — — — 1,637 — 1,637 Net increase (decrease) in cash and cash equivalents 24 23 — (2,374 ) — (2,327 ) Cash and cash equivalents as of the beginning of the period 870 5 — 35,067 — 35,942 Cash and cash equivalents as of the end of the period $ 894 $ 28 $ — $ 32,693 $ — $ 33,615 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2016 (Thousands of Dollars) NuStar Energy NuStar Logistics NuPOP Non-Guarantor Subsidiaries Eliminations Consolidated Net cash provided by operating activities $ 292,572 $ 97,253 $ 118,436 $ 281,544 $ (475,256 ) $ 314,549 Cash flows from investing activities: Capital expenditures — (53,491 ) (43,329 ) (48,594 ) — (145,414 ) Change in accounts payable related to capital expenditures — (15,086 ) 2,645 (3,063 ) — (15,504 ) Investment in subsidiaries — — (212,900 ) — 212,900 — Net cash used in investing activities — (68,577 ) (253,584 ) (51,657 ) 212,900 (160,918 ) Cash flows from financing activities: Debt borrowings — 965,082 — 20,900 — 985,982 Debt repayments — (918,550 ) — (31,200 ) — (949,750 ) Issuance of common units, net of issuance costs 27,710 — — — — 27,710 General partner contribution 575 — — — — 575 Distributions to common unitholders and general partner (294,153 ) (147,076 ) (147,077 ) (147,093 ) 441,246 (294,153 ) Contributions from affiliates — — — 178,890 (178,890 ) — Net intercompany activity (25,372 ) 75,165 282,226 (332,019 ) — — Other, net (1,406 ) (3,298 ) (1 ) (8,894 ) — (13,599 ) Net cash (used in) provided by financing activities (292,646 ) (28,677 ) 135,148 (319,416 ) 262,356 (243,235 ) Effect of foreign exchange rate changes on cash — — — 3,404 — 3,404 Net decrease in cash and cash equivalents (74 ) (1 ) — (86,125 ) — (86,200 ) Cash and cash equivalents as of the beginning of the period 885 4 — 117,973 — 118,862 Cash and cash equivalents as of the end of the period $ 811 $ 3 $ — $ 31,848 $ — $ 32,662

ORGANIZATION AND BASIS OF PRE29

ORGANIZATION AND BASIS OF PRESENTATION Narrative (Details) $ in Thousands	May 04, 2017USD ($)	Apr. 28, 2017USD ($)shares	Apr. 18, 2017USD ($)shares	Feb. 22, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Feb. 26, 2014USD ($)
Organization and Operations [Abstract]
Common limited partner ownership interest held by general partner					11.00%	11.00%
Number of business segments						3
Asset Impairment Charges [Abstract]
Loss for property damage at our St. Eustatius terminal					$ 5,000
Operating expenses					$ 700
Class of Stock [Line Items]
Net proceeds from issuance of units						$ 1,029,257
Financing Receivable, Impaired [Line Items]
Cash collection on Axeon Term Loan						110,000	$ 0
Debt Instrument [Line Items]
Proceeds from note offering, net of issuance costs						$ 543,313	$ 0
Common Limited Partner [Member]
Class of Stock [Line Items]
Issuance of units (units) | shares			14,375,000
Proceeds from common unit issuance including general partner contribution			$ 657,500
Series B Preferred Limited Partner [Member]
Class of Stock [Line Items]
Issuance of units (units) | shares		15,400,000
Preferred units distribution percentage		7.625%
Net proceeds from issuance of units		$ 371,800
Logistics Notes Due 2027 [Member]
Debt Instrument [Line Items]
Senior notes issued		$ 550,000
Stated interest rate		5.625%
Proceeds from note offering, net of issuance costs		$ 543,300
Axeon [Member]
Financing Receivable, Impaired [Line Items]
Axeon Term Loan Receivable									$ 190,000
Maximum amount of guarantees								$ 125,000
Cash collection on Axeon Term Loan				$ 110,000
Navigator Acquisition [Member]
Business Acquisition [Line Items]
Purchase price of Navigator Acquisition	$ 1,500,000

ACQUISITIONS Narrative 1 (Detai

ACQUISITIONS Narrative 1 (Details) - Navigator Acquisition [Member] - USD ($) $ in Billions	May 04, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Purchase price of Navigator Acquisition	$ 1.5
Description of Navigator Acquisition		We acquired crude oil transportation, pipeline gathering and storage assets located in the Midland Basin of West Texas consisting of: (i) more than 500 miles of crude oil gathering and transportation pipelines with approximately 92,000 barrels per day ship-or-pay volume commitments and deliverability of approximately 412,000 barrels per day; (ii) a pipeline gathering system with more than 200 connected producer tank batteries capable of more than 400,000 barrels per day of pumping capacity covering over 500,000 dedicated acres with fixed fee contracts; and (iii) approximately 1.0 million barrels of crude oil storage capacity with 440,000 barrels contracted to third parties. We collectively refer to the acquired assets as our Permian Crude System. The assets acquired are included in our pipeline segment.

ACQUISITIONS Table 1 - Navigato

ACQUISITIONS Table 1 - Navigator Acquisition Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	May 04, 2017	Sep. 30, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill		$ 1,095,943	$ 696,637
Navigator Acquisition [Member]
Business Acquisition [Line Items]
Accounts receivable	$ 4,747
Other current assets	2,436
Property, plant and equipment, net	376,690
Intangible assets	700,000
Goodwill	399,306
Other long-term assets, net	2,125
Current liabilities	(23,585)
Preliminary purchase price allocation, net of cash acquired	$ 1,461,719
Intangible assets, weighted average useful life (years)	20 years

ACQUISITIONS Narrative 2 (Detai

ACQUISITIONS Narrative 2 (Details) $ in Millions	3 Months Ended
	Sep. 30, 2017USD ($)
Navigator Acquisition [Member]
Business Acquisition [Line Items]
Increase in goodwill due to valuation adjustments	$ 70

ACQUISITIONS Table 2 - Certain

ACQUISITIONS Table 2 - Certain Financial Information Related to the Navigator Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Revenues	$ 440,566	$ 441,418	$ 1,363,484	$ 1,284,925
Operating income (loss)	91,717	$ 87,954	262,260	$ 273,736
Navigator Acquisition [Member]
Business Acquisition [Line Items]
Revenues	15,663		25,142
Operating income (loss)	1,050		(2,374)
Business acquisition, transaction costs	169		14,047
Navigator Acquisition [Member] | General and administrative expense
Business Acquisition [Line Items]
Business acquisition, transaction costs	169		10,359
Navigator Acquisition [Member] | Interest expense, net
Business Acquisition [Line Items]
Business acquisition, transaction costs	$ 0		$ 3,688

ACQUISITIONS Narrative 3 (Detai

ACQUISITIONS Narrative 3 (Details) - USD ($) $ in Thousands	Apr. 28, 2017	Apr. 18, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Net proceeds from issuance of units					$ 1,029,257
General partner ownership interest			2.00%	2.00%	2.00%	2.00%
Common Limited Partner [Member]
Business Acquisition [Line Items]
Issuance of units (units)		14,375,000
General Partner [Member]
Business Acquisition [Line Items]
Net proceeds from issuance of units		$ 13,600
General partner ownership interest			2.00%		2.00%
Series B Preferred Limited Partner [Member]
Business Acquisition [Line Items]
Issuance of units (units)	15,400,000
Net proceeds from issuance of units	$ 371,800
Logistics Notes Due 2027 [Member]
Business Acquisition [Line Items]
Senior notes issued	$ 550,000
Stated interest rate	5.625%

ACQUISITIONS Table 3 - Navigato

ACQUISITIONS Table 3 - Navigator Pro Forma Information (Details) - Navigator Acquisition [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Revenues	$ 440,566	$ 449,250	$ 1,377,883	$ 1,301,419
Net income	$ 38,592	$ 34,417	$ 102,251	$ 104,535
Basic net income per common unit	$ 0.15	$ 0.16	$ 0.31	$ 0.50
Diluted net income per common unit	$ 0.15	$ 0.16	$ 0.31	$ 0.50

ACQUISITIONS Narrative 4 (Detai

ACQUISITIONS Narrative 4 (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Navigator Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, transaction costs	$ 169	$ 14,047

DEBT Narrative (Details)

DEBT Narrative (Details) - USD ($) $ in Thousands	Aug. 22, 2017	Apr. 28, 2017	Oct. 29, 2014	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt				$ 3,582,606		$ 3,014,364
Proceeds from note offering, net of issuance costs				$ 543,313	$ 0
Logistics Notes Due 2027 [Member]
Debt Instrument [Line Items]
Senior notes issued		$ 550,000
Stated interest rate		5.625%
Proceeds from note offering, net of issuance costs		$ 543,300
Redemption description				If we undergo a change of control, followed by a ratings decline within 60 days of a change of control, each holder of the notes may require us to repurchase all or a portion of its notes at a price equal to 101% of the principal amount of the notes, plus any accrued and unpaid interest to the date of repurchase.
$1.75 billion revolving credit agreement
Debt Instrument [Line Items]
Debt Instrument, Maturity Date	Oct. 29, 2020		Oct. 29, 2019
Maximum borrowing capacity	$ 1,750,000		$ 1,500,000
Covenant terms				maximum allowed consolidated debt coverage ratio (as defined in the Revolving Credit Agreement) from 5.00-to-1.00 to 5.50-to-1.00 through the rolling period ending March 31, 2018. Subsequently, the maximum allowed consolidated debt coverage ratio may not exceed 5.00-to-1.00 for any rolling period ending on or after June 30, 2018. If we complete one or more acquisitions for aggregate net consideration of at least $50.0 million, our maximum consolidated debt coverage ratio will increase to 5.50-to-1.00 for two rolling periods.
Interest rate at period end				2.90%
Long-term debt				$ 878,400
Letters of credit issued				7,700
Current remaining borrowing capacity				863,800
Line of credit facility, increase, net				39,400
GoZone Bonds
Debt Instrument [Line Items]
Long-term debt				$ 365,400
Interest rate at period end				1.00%
Amount received from trustee				$ 0
Amount remaining in trust				42,500
Receivables Financing Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				125,000
Long-term debt				$ 46,100
Borrowing capacity, description				The amount available for borrowing is based on the availability of eligible receivables and other customary factors and conditions.
Maturity date description				On September 20, 2017, the Securitization Program was amended to add certain of NuStar Energy’s wholly owned subsidiaries resulting from the Navigator Acquisition and to extend the Securitization Program’s scheduled termination date from June 15, 2018 to September 20, 2020, with the option to renew for additional 364-day periods thereafter.
Collateral amount				$ 98,600

COMMITMENTS AND CONTINGENCIES N

COMMITMENTS AND CONTINGENCIES Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Loss contingency accrual, at carrying value	$ 1.6	$ 0

FAIR VALUE MEASUREMENTS Table 1

FAIR VALUE MEASUREMENTS Table 1 - Recurring Fair Value Measurements (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets:
Total assets		$ 3,020
Liabilities:
Total liabilities	$ (14,278)	(10,491)
Fair Value Level 1
Assets:
Total assets		1,551
Liabilities:
Total liabilities	(2,955)	(6,464)
Fair Value Level 2
Assets:
Total assets		1,469
Liabilities:
Total liabilities	(11,323)	(2,797)
Fair Value Level 3
Assets:
Total assets		0
Liabilities:
Total liabilities	0	(1,230)
Other current assets
Assets:
Product imbalances - asset	6,960	1,551
Commodity derivatives - assets		155
Other current assets | Fair Value Level 1
Assets:
Product imbalances - asset	6,960	1,551
Commodity derivatives - assets		0
Other current assets | Fair Value Level 2
Assets:
Product imbalances - asset	0	0
Commodity derivatives - assets		155
Other current assets | Fair Value Level 3
Assets:
Product imbalances - asset	0	0
Commodity derivatives - assets		0
Other long-term assets, net
Assets:
Interest rate swaps - assets		1,314
Other long-term assets, net | Fair Value Level 1
Assets:
Interest rate swaps - assets		0
Other long-term assets, net | Fair Value Level 2
Assets:
Interest rate swaps - assets		1,314
Other long-term assets, net | Fair Value Level 3
Assets:
Interest rate swaps - assets		0
Accrued liabilities
Liabilities:
Product imbalances - liability	(2,164)	(1,577)
Commodity derivatives - liabilities	(791)	(5,052)
Interest rate swaps - liabilities	(7,280)
Accrued liabilities | Fair Value Level 1
Liabilities:
Product imbalances - liability	(2,164)	(1,577)
Commodity derivatives - liabilities	(791)	(4,887)
Interest rate swaps - liabilities	0
Accrued liabilities | Fair Value Level 2
Liabilities:
Product imbalances - liability	0	0
Commodity derivatives - liabilities	0	(165)
Interest rate swaps - liabilities	(7,280)
Accrued liabilities | Fair Value Level 3
Liabilities:
Product imbalances - liability	0	0
Commodity derivatives - liabilities	0	0
Interest rate swaps - liabilities	0
Other long-term liabilities
Liabilities:
Guarantee liability		(1,230)
Interest rate swaps - liabilities	(4,043)	(2,632)
Other long-term liabilities | Fair Value Level 1
Liabilities:
Guarantee liability		0
Interest rate swaps - liabilities	0	0
Other long-term liabilities | Fair Value Level 2
Liabilities:
Guarantee liability		0
Interest rate swaps - liabilities	(4,043)	(2,632)
Other long-term liabilities | Fair Value Level 3
Liabilities:
Guarantee liability		(1,230)
Interest rate swaps - liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS Narrati

FAIR VALUE MEASUREMENTS Narrative 1 (Details) $ in Millions	Dec. 31, 2016USD ($)	Feb. 26, 2014
Axeon [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Maximum amount of guarantees	$ 125
Axeon [Member] | Financial Guarantee [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Amount of guarantees provided	$ 54.1
Number of guarantees with unlimited exposure	1
Axeon [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Ownership percentage of entity sold		50.00%

FAIR VALUE MEASUREMENTS Table 2

FAIR VALUE MEASUREMENTS Table 2 - Fair Value and Carrying Amounts of Long-Term Debt and Axeon Term Loan (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value and Carrying Value of Debt and Note Receivable from Counterparty [Line Items]
Fair value, long-term debt	$ 3,694,877	$ 3,084,762
Carrying amount, long-term debt	$ 3,582,606	3,014,364
Axeon [Member]
Fair Value and Carrying Value of Debt and Note Receivable from Counterparty [Line Items]
Fair value, Axeon Term Loan		110,000
Carrying amount, Axeon Term Loan		$ 110,000

FAIR VALUE MEASUREMENTS Narra42

FAIR VALUE MEASUREMENTS Narrative 2 (Details) - USD ($) $ in Thousands	Feb. 22, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Financing Receivable, Impaired [Line Items]
Cash collection on Axeon Term Loan		$ 110,000	$ 0
Axeon [Member]
Financing Receivable, Impaired [Line Items]
Cash collection on Axeon Term Loan	$ 110,000
Carrying amount, Axeon Term Loan				$ 110,000

DERIVATIVES AND RISK MANAGEME43

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES Narrative (Details) bbl in Millions	Sep. 30, 2017USD ($)bbl	Dec. 31, 2016USD ($)bbl	Sep. 30, 2017USD ($)
Derivative [Line Items]
Margin deposit	$ 300,000	$ 1,800,000	$ 300,000
Interest rate swaps | Cash Flow Hedges
Derivative [Line Items]
Interest rate swaps interest rate received			receive a rate based on the three-month USD LIBOR
Notional amount of forward-starting interest rate swaps	$ 600,000,000	$ 600,000,000	$ 600,000,000
Commodity contracts
Derivative [Line Items]
Notional amount of commodity contracts, volume (in barrels) | bbl	1.1	4.7

DERIVATIVES AND RISK MANAGEME44

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES Table 1 - Fair Values of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value
Asset Derivatives	$ 673	$ 10,851
Liability Derivatives	(12,787)	(17,066)
Designated as Hedging Instruments
Derivatives, Fair Value
Asset Derivatives	18	1,458
Liability Derivatives	(11,325)	(6,198)
Designated as Hedging Instruments | Commodity contracts | Accrued liabilities
Derivatives, Fair Value
Asset Derivatives	18	144
Liability Derivatives	(2)	(3,566)
Designated as Hedging Instruments | Interest rate swaps | Other long-term assets, net
Derivatives, Fair Value
Asset Derivatives	0	1,314
Liability Derivatives	0	0
Designated as Hedging Instruments | Interest rate swaps | Accrued liabilities
Derivatives, Fair Value
Asset Derivatives	0	0
Liability Derivatives	(7,280)	0
Designated as Hedging Instruments | Interest rate swaps | Other long-term liabilities
Derivatives, Fair Value
Asset Derivatives	0	0
Liability Derivatives	(4,043)	(2,632)
Not Designated as Hedging Instruments
Derivatives, Fair Value
Asset Derivatives	655	9,393
Liability Derivatives	(1,462)	(10,868)
Not Designated as Hedging Instruments | Commodity contracts | Other current assets
Derivatives, Fair Value
Asset Derivatives	0	265
Liability Derivatives	0	(110)
Not Designated as Hedging Instruments | Commodity contracts | Accrued liabilities
Derivatives, Fair Value
Asset Derivatives	655	9,128
Liability Derivatives	$ (1,462)	$ (10,758)

DERIVATIVES AND RISK MANAGEME45

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES Table 2 - Derivative Instruments Eligible for Offset (Details) - Commodity contracts - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivative Assets and Liabilities Eligible for Offset, Net [Line Items]
Net amounts of assets presented in the consolidated balance sheets	$ 0	$ 155
Net amounts of liabilities presented in the consolidated balance sheets	$ (791)	$ (5,052)

DERIVATIVES AND RISK MANAGEME46

DERIVATIVES AND RISK MANAGEMENT ACTIVITIES Table 3 - Impact of Derivatives on Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss)
Gain (loss) to be reclassified during next 12 months, forward-starting interest rate swaps	$ (5,500)		$ (5,500)
Designated as Hedging Instruments | Fair Value Hedges | Commodity contracts | Cost of product sales
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income on derivative	(1,134)	$ 558	1,327	$ (6,246)
Gain (loss) recognized in income on hedged item	1,111	329	(1,036)	10,134
Gain (loss) recognized in income for ineffective portion	(23)	887	291	3,888
Designated as Hedging Instruments | Cash Flow Hedges | Interest rate swaps | Other comprehensive income
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in other comprehensive income on derivative (effective portion)	(2,064)	(2,035)	(10,005)	(52,213)
Designated as Hedging Instruments | Cash Flow Hedges | Interest rate swaps | Interest expense, net
Derivative Instruments, Gain (Loss)
Gain (loss) reclassified from AOCI into interest expense, net (effective portion)	(1,584)	(2,011)	(5,112)	(6,391)
Not Designated as Hedging Instruments | Commodity contracts | Cost of product sales
Derivative Instruments, Gain (Loss)
Gain (loss) recognized in income on derivative	$ (132)	$ (153)	$ (218)	$ (157)

RELATED PARTY TRANSACTIONS Narr

RELATED PARTY TRANSACTIONS Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transactions [Abstract]
Related party operating expenses	$ 0	$ 0	$ 0	$ 21,681
Related party general and administrative expenses	$ 0	$ 0	$ 0	$ 10,493
Administrative fees, description			The Amended GP Services Agreement provides that we will furnish administrative services necessary to conduct the business of NuStar GP Holdings. NuStar GP Holdings will compensate us for these services through an annual fee of $1.0 million, subject to adjustment based on the annual merit increase percentage applicable to our employees for the most recently completed fiscal year and for changes in level of service. The Amended GP Services Agreement will terminate on March 1, 2020 and will automatically renew for successive two-year terms, unless terminated by either party.

EMPLOYEE BENEFIT PLANS Narrativ

EMPLOYEE BENEFIT PLANS Narrative (Details) $ in Millions	1 Months Ended
	Sep. 30, 2017USD ($)
Retirement Benefits [Abstract]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 11

EMPLOYEE BENEFIT PLANS Table 1

EMPLOYEE BENEFIT PLANS Table 1 - Net Periodic Benefit Cost (Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,239	$ 1,926	$ 6,717	$ 5,778
Interest cost	1,127	1,006	3,381	3,018
Expected return on assets	(1,603)	(1,353)	(4,808)	(4,056)
Amortization of prior service credit	(515)	(516)	(1,546)	(1,549)
Amortization of net loss	371	273	1,113	819
Net periodic benefit cost (income)	1,619	1,336	4,857	4,010
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	115	105	341	315
Interest cost	107	100	323	300
Expected return on assets	0	0	0	0
Amortization of prior service credit	(286)	(286)	(858)	(858)
Amortization of net loss	47	45	143	135
Net periodic benefit cost (income)	$ (17)	$ (36)	$ (51)	$ (108)

PARTNERS' EQUITY Narrative 1 (D

PARTNERS' EQUITY Narrative 1 (Details) $ in Millions	3 Months Ended
	Jun. 30, 2017USD ($)
Partners' Capital Notes [Abstract]
Incentive distribution waiver	$ 22
Number of periods covered by waiver	10

PARTNERS' EQUITY Narrative 2 (D

PARTNERS' EQUITY Narrative 2 (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 18, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Class of Stock [Line Items]
Net proceeds from issuance of units				$ 1,029,257
General partner ownership interest		2.00%	2.00%	2.00%	2.00%
Common Limited Partner [Member]
Class of Stock [Line Items]
Issuance of units (units)	14,375,000
Units issued, price per unit	$ 46.35
Proceeds from common unit issuance including general partner contribution	$ 657,500
General Partner [Member]
Class of Stock [Line Items]
Net proceeds from issuance of units	$ 13,600
General partner ownership interest		2.00%		2.00%

PARTNERS' EQUITY Narrative 3 (D

PARTNERS' EQUITY Narrative 3 (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 28, 2017	Sep. 30, 2017
Class of Stock [Line Items]
Net proceeds from issuance of units		$ 1,029,257
Series B Preferred Limited Partner [Member]
Class of Stock [Line Items]
Issuance of units (units)	15,400,000
Units issued, price per unit	$ 25
Net proceeds from issuance of units	$ 371,800
Preferred units distribution percentage	7.625%
Preferred units liquidation preference	$ 25
Per unit distribution, annualized	$ 1.90625
Preferred unit, distribution payment rate, variable description		three-month LIBOR plus a spread of 5.643%
Preferred units, description		At any time on or after June 15, 2022, we may redeem our Series B Preferred Units, in whole or in part, at a redemption price of $25.00 per unit plus an amount equal to all accumulated and unpaid distributions to, but not including, the date of redemption, whether or not declared. We may also redeem the Series B Preferred Units upon the occurrence of certain rating events or a change of control as defined in our partnership agreement. In the case of the latter instance, if we choose not to redeem the Series B Preferred Units, the preferred unitholders may have the ability to convert the Series B Preferred Units to common units at the then applicable conversion rate. Holders of the Series B Preferred Units have no voting rights except for certain exceptions set forth in our partnership agreement.

PARTNERS' EQUITY Table 1 - Chan

PARTNERS' EQUITY Table 1 - Changes to Partners' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance as of January 1, 2017			$ 1,611,617
Net income (loss)	$ 38,592	$ 51,141	122,782	$ 161,059
Unit-based compensation			4,164
Other comprehensive income			10,784
Distributions to partners			(358,138)
Issuance of preferred and common units, including contribution from general partner			1,029,257
Other			(604)
Balance as of September 30, 2017	$ 2,419,862		$ 2,419,862

PARTNERS' EQUITY Table 2 - Bala

PARTNERS' EQUITY Table 2 - Balance of and Changes in Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of January 1, 2017	$ (94,177)
Other comprehensive income (loss)	10,784
Balance as of September 30, 2017	(83,393)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of January 1, 2017	(69,069)
Other comprehensive income (loss) before reclassification adjustments	16,825
Other comprehensive income (loss)	16,825
Balance as of September 30, 2017	(52,244)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of January 1, 2017	(22,258)
Other comprehensive income (loss) before reclassification adjustments	(10,005)
Other comprehensive income (loss)	(4,893)
Balance as of September 30, 2017	(27,151)
Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of January 1, 2017	(2,850)
Other comprehensive income (loss) before reclassification adjustments	0
Other comprehensive income (loss)	(1,148)
Balance as of September 30, 2017	(3,998)
Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of January 1, 2017	(94,177)
Other comprehensive income (loss) before reclassification adjustments	6,820
Other comprehensive income (loss)	10,784
Balance as of September 30, 2017	(83,393)
Operating expense | Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
Operating expense | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
Operating expense | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	(858)
Operating expense | Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	(858)
General and administrative expense | Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
General and administrative expense | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
General and administrative expense | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	(290)
General and administrative expense | Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	(290)
Interest expense, net | Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
Interest expense, net | Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	5,112
Interest expense, net | Pension and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	0
Interest expense, net | Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from accumulated other comprehensive income, current period, net of tax	$ 5,112

PARTNERS' EQUITY Narrative 4 (D

PARTNERS' EQUITY Narrative 4 (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
General partner ownership interest	2.00%	2.00%	2.00%	2.00%
Common Limited Partner [Member]
Common unitholders ownership interest			98.00%
General Partner [Member]
General partner ownership interest	2.00%		2.00%

PARTNERS' EQUITY Table 3 - Net

PARTNERS' EQUITY Table 3 - Net Income Applicable to the General Partner (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net Income Allocation [Abstract]
Net income attributable to NuStar Energy L.P.	$ 38,592	$ 51,141	$ 122,782	$ 161,059
Less preferred limited partner interest	12,153	0	26,916	0
Less general partner incentive distribution	10,912	10,890	34,736	32,500
Net income after general partner incentive distribution and preferred limited partner interest	$ 15,527	$ 40,251	$ 61,130	$ 128,559
General partner interest allocation	2.00%	2.00%	2.00%	2.00%
General partner interest allocation of net income	$ 311	$ 805	$ 1,223	$ 2,571
General partner incentive distribution	10,912	10,890	34,736	32,500
Net income applicable to general partner	$ 11,223	$ 11,695	$ 35,959	$ 35,071

PARTNERS' EQUITY Table 4 - Cash

PARTNERS' EQUITY Table 4 - Cash Distributions Earned - General and Common Limited Partners (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Distributions Made to Common Limited Partners and General Partner [Line Items]
General partner interest	$ 2,302				$ 1,976	$ 6,947	$ 5,898
General partner incentive distribution	10,912				10,890	34,736	32,500
Total general partner distribution	13,214				12,866	41,683	38,398
Common limited partners’ distribution	101,870				85,943	305,652	256,513
Total cash distributions applicable to common limited partners and general partner	$ 115,084	$ 115,083	$ 117,168	$ 98,971	$ 98,809	$ 347,335	$ 294,911
Common Limited Partner [Member]
Distributions Made to Common Limited Partners and General Partner [Line Items]
Cash distributions per unit applicable to common limited partners	$ 1.095	$ 1.095	$ 1.095	$ 1.095	$ 1.095	$ 3.285	$ 3.285

PARTNERS' EQUITY Table 5 - Cash

PARTNERS' EQUITY Table 5 - Cash Distributions Paid - General and Common Limited Partners (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 18, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Distribution Made to General and Common Limited Partners [Line Items]
Cash distributions applicable to common limited partners and general partner (distribution earned)		$ 115,084	$ 115,083	$ 117,168	$ 98,971	$ 98,809	$ 347,335	$ 294,911
Distribution payment date (distribution earned)		Nov. 14, 2017	Aug. 11, 2017	May 12, 2017	Feb. 13, 2017
Subsequent Event [Member]
Distribution Made to General and Common Limited Partners [Line Items]
Distribution announcement date (distribution earned)	Oct. 18, 2017
Common Limited Partner [Member]
Distribution Made to General and Common Limited Partners [Line Items]
Cash distributions per unit applicable to common limited partners		$ 1.095	$ 1.095	$ 1.095	$ 1.095	$ 1.095	$ 3.285	$ 3.285
Distribution date of record (distribution earned)		Nov. 9, 2017	Aug. 7, 2017	May 8, 2017	Feb. 8, 2017

PARTNERS' EQUITY Table 6 - Cash

PARTNERS' EQUITY Table 6 - Cash Distributions - Preferred Units (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 18, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Series A Preferred Limited Partner [Member]
Distribution Made to Limited Partner [Line Items]
Preferred unit distribution paid			$ 0.53125	$ 0.53125	$ 0.64930556
Cash distributions applicable to preferred limited partners			$ 4,813	$ 4,813	$ 5,883
Distribution date of record			Sep. 1, 2017	Jun. 1, 2017	Mar. 1, 2017
Distribution payment date			Sep. 15, 2017	Jun. 15, 2017	Mar. 15, 2017
Series B Preferred Limited Partner [Member]
Distribution Made to Limited Partner [Line Items]
Preferred unit distribution paid			$ 0.725434028
Cash distributions applicable to preferred limited partners			$ 11,172
Distribution date of record			Sep. 1, 2017
Distribution payment date			Sep. 15, 2017
Subsequent Event [Member]
Distribution Made to Limited Partner [Line Items]
Distribution announcement date	Oct. 18, 2017
Subsequent Event [Member] | Series A Preferred Limited Partner [Member]
Distribution Made to Limited Partner [Line Items]
Preferred unit distribution declared		$ 0.53125
Cash distributions applicable to preferred limited partners		$ 4,813
Distribution date of record		Dec. 1, 2017
Distribution payment date		Dec. 15, 2017
Subsequent Event [Member] | Series B Preferred Limited Partner [Member]
Distribution Made to Limited Partner [Line Items]
Preferred unit distribution declared		$ 0.47657
Cash distributions applicable to preferred limited partners		$ 7,339
Distribution date of record		Dec. 1, 2017
Distribution payment date		Dec. 15, 2017

NET INCOME PER COMMON UNIT Tabl

NET INCOME PER COMMON UNIT Table - Net Income per Common Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income attributable to NuStar Energy L.P.	$ 38,592	$ 51,141	$ 122,782	$ 161,059
Less: Distributions to general partner (including incentive distribution rights)	13,214	12,866	41,683	38,398
Common limited partners’ distribution	101,870	85,943	305,652	256,513
Less: Distributions to preferred limited partners	12,153	0	26,916	0
Less: Distribution equivalents rights to restricted units	707	650	2,134	1,969
Distributions in excess of earnings	(89,352)	(48,318)	(253,603)	(135,821)
Net income attributable to common units:
Common limited partners’ distribution	101,870	85,943	305,652	256,513
Allocation of distributions in excess of earnings	(87,565)	(47,351)	(248,531)	(133,103)
Total	$ 14,305	$ 38,592	$ 57,121	$ 123,410
Basic weighted-average common units outstanding	93,031,320	78,031,053	87,392,597	77,934,802
Diluted common units outstanding:
Basic weighted-average common units outstanding	93,031,320	78,031,053	87,392,597	77,934,802
Effect of dilutive potential common units	0	31,836	0	46,497
Diluted weighted-average common units outstanding	93,031,320	78,062,889	87,392,597	77,981,299
Basic net income per common unit	$ 0.15	$ 0.49	$ 0.65	$ 1.58
Diluted net income per common unit	$ 0.15	$ 0.49	$ 0.65	$ 1.58

STATEMENTS OF CASH FLOWS Table

STATEMENTS OF CASH FLOWS Table 1 - Changes in Current Assets and Current Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Decrease (increase) in current assets:
Accounts receivable	$ 24,538	$ (15,200)
Receivable from related party	236	0
Inventories	15,497	3,767
Other current assets	1,176	4,809
Increase (decrease) in current liabilities:
Accounts payable	(52,910)	7,706
Payable to related party, net	0	806
Accrued interest payable	7,829	(6,672)
Accrued liabilities	(10,702)	(7,477)
Taxes other than income tax	279	3,670
Income tax payable	(3,614)	(3,886)
Changes in current assets and current liabilities	$ (17,671)	$ (12,477)

STATEMENTS OF CASH FLOWS Tabl62

STATEMENTS OF CASH FLOWS Table 2 - Cash Flows Related to Interest and Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Cash Flows [Abstract]
Cash paid for interest, net of amount capitalized	$ 112,335	$ 112,796
Cash paid for income taxes, net of tax refunds received	$ 10,090	$ 9,873

SEGMENT INFORMATION Table 1 - R

SEGMENT INFORMATION Table 1 - Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Revenues	$ 440,566	$ 441,418	$ 1,363,484	$ 1,284,925
Operating income:
General and administrative expenses	25,003	26,957	83,202	73,399
Other depreciation and amortization expense	69,178	53,946	193,643	160,739
Operating income (loss)	91,717	87,954	262,260	273,736
Pipeline Segment
Revenues:
Revenues	137,426	122,481	385,406	362,929
Storage Segment
Revenues:
Revenues	158,071	157,767	464,061	462,040
Storage Segment | Third Party Revenue [Member]
Revenues:
Revenues	155,677	152,746	453,995	445,497
Storage Segment | Intersegment Revenue [Member]
Revenues:
Revenues	2,394	5,021	10,066	16,543
Fuels Marketing Segment
Revenues:
Revenues	147,463	166,191	524,083	476,499
Operating Segments [Member]
Operating income:
Operating income (loss)	118,909	117,004	352,043	353,517
Operating Segments [Member] | Pipeline Segment
Operating income:
Operating income (loss)	61,119	58,922	179,015	186,739
Operating Segments [Member] | Storage Segment
Operating income:
Operating income (loss)	59,323	58,420	169,131	166,496
Operating Segments [Member] | Fuels Marketing Segment
Operating income:
Operating income (loss)	(1,532)	(337)	3,897	282
Intersegment Eliminations [Member]
Revenues:
Revenues	(2,394)	(5,021)	(10,066)	(16,543)
Operating income:
Operating income (loss)	(1)	(1)	0	0
Corporate, Non-Segment [Member]
Operating income:
General and administrative expenses	25,003	26,957	83,202	73,399
Other depreciation and amortization expense	$ 2,189	$ 2,093	$ 6,581	$ 6,382

SEGMENT INFORMATION Table 2 - A

SEGMENT INFORMATION Table 2 - Assets by Reportable Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Information
Total assets	$ 6,418,768	$ 5,030,545
Operating Segments [Member]
Segment Information
Total assets	6,220,868	4,715,566
Operating Segments [Member] | Pipeline Segment
Segment Information
Total assets	3,451,302	2,024,633
Operating Segments [Member] | Storage Segment
Segment Information
Total assets	2,665,426	2,522,586
Operating Segments [Member] | Fuels Marketing Segment
Segment Information
Total assets	104,140	168,347
Operating Segments [Member] | Other partnership assets
Segment Information
Total assets	$ 197,900	$ 314,979

CONDENSED CONSOLIDATING FINAN65

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Table 1 - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 33,615	$ 35,942	$ 32,662	$ 118,862
Receivables, net	152,155	170,610
Inventories	23,297	37,945
Other current assets	24,805	132,686
Intercompany receivable	0	0
Total current assets	233,872	377,183
Property, plant and equipment, net	4,188,149	3,722,283
Intangible assets, net	797,339	127,083
Goodwill	1,095,943	696,637
Investment in wholly owned subsidiaries	0	0
Deferred income tax asset	1,070	2,051
Other long-term assets, net	102,395	105,308
Total assets	6,418,768	5,030,545
Liabilities and Partners' Equity
Accounts payable	97,854	118,686
Short-term debt	68,000	54,000
Current portion of long-term debt	350,007	0
Accrued interest payable	41,811	34,030
Accrued liabilities	60,466	60,485
Taxes other than income tax	19,940	15,685
Income tax payable	2,989	6,510
Intercompany payable	0	0
Total current liabilities	641,067	289,396
Long-term debt	3,232,599	3,014,364
Deferred income tax liability	23,166	22,204
Other long-term liabilities	102,074	92,964
Total partners' equity	2,419,862	1,611,617
Total liabilities and partners' equity	6,418,768	5,030,545
Eliminations
Assets
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Inventories	0	0
Other current assets	0	0
Intercompany receivable	(3,183,871)	(1,366,200)
Total current assets	(3,183,871)	(1,366,200)
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Investment in wholly owned subsidiaries	(5,125,355)	(4,095,880)
Deferred income tax asset	0	0
Other long-term assets, net	0	0
Total assets	(8,309,226)	(5,462,080)
Liabilities and Partners' Equity
Accounts payable	0	0
Short-term debt	0	0
Current portion of long-term debt	0
Accrued interest payable	0	0
Accrued liabilities	0	0
Taxes other than income tax	0	0
Income tax payable	0	0
Intercompany payable	(3,183,871)	(1,366,200)
Total current liabilities	(3,183,871)	(1,366,200)
Long-term debt	0	0
Deferred income tax liability	0	0
Other long-term liabilities	0	0
Total partners' equity	(5,125,355)	(4,095,880)
Total liabilities and partners' equity	(8,309,226)	(5,462,080)
Parent Company Guarantor [Member] | NuStar Energy | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	894	870	811	885
Receivables, net	0	0
Inventories	0	0
Other current assets	118	61
Intercompany receivable	0	0
Total current assets	1,012	931
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Investment in wholly owned subsidiaries	2,992,907	1,964,736
Deferred income tax asset	0	0
Other long-term assets, net	378	1,255
Total assets	2,994,297	1,966,922
Liabilities and Partners' Equity
Accounts payable	2,201	2,436
Short-term debt	0	0
Current portion of long-term debt	0
Accrued interest payable	0	0
Accrued liabilities	822	1,070
Taxes other than income tax	63	125
Income tax payable	0	0
Intercompany payable	487,956	257,497
Total current liabilities	491,042	261,128
Long-term debt	0	0
Deferred income tax liability	0	0
Other long-term liabilities	0	0
Total partners' equity	2,503,255	1,705,794
Total liabilities and partners' equity	2,994,297	1,966,922
Subsidiary Issuer [Member] | NuStar Logistics | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	28	5	3	4
Receivables, net	114	3,040
Inventories	1,733	2,216
Other current assets	9,378	120,350
Intercompany receivable	3,183,871	1,308,415
Total current assets	3,195,124	1,434,026
Property, plant and equipment, net	1,904,510	1,935,172
Intangible assets, net	60,886	71,033
Goodwill	149,453	149,453
Investment in wholly owned subsidiaries	24,152	34,778
Deferred income tax asset	0	0
Other long-term assets, net	65,393	63,586
Total assets	5,399,518	3,688,048
Liabilities and Partners' Equity
Accounts payable	24,752	24,272
Short-term debt	68,000	54,000
Current portion of long-term debt	350,007
Accrued interest payable	41,780	34,008
Accrued liabilities	19,980	7,118
Taxes other than income tax	7,551	6,854
Income tax payable	704	1,326
Intercompany payable	0	0
Total current liabilities	512,774	127,578
Long-term debt	3,186,908	2,956,338
Deferred income tax liability	1,862	1,862
Other long-term liabilities	48,605	34,358
Total partners' equity	1,649,369	567,912
Total liabilities and partners' equity	5,399,518	3,688,048
Guarantor Subsidiaries [Member] | NuPOP | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Inventories	6,580	2,005
Other current assets	5,405	1,829
Intercompany receivable	0	0
Total current assets	11,985	3,834
Property, plant and equipment, net	582,390	589,139
Intangible assets, net	0	0
Goodwill	170,652	170,652
Investment in wholly owned subsidiaries	1,291,487	1,221,717
Deferred income tax asset	0	0
Other long-term assets, net	27,782	28,587
Total assets	2,084,296	2,013,929
Liabilities and Partners' Equity
Accounts payable	13,812	7,124
Short-term debt	0	0
Current portion of long-term debt	0
Accrued interest payable	0	0
Accrued liabilities	10,527	10,766
Taxes other than income tax	4,922	3,253
Income tax payable	3	5
Intercompany payable	1,228,444	1,108,703
Total current liabilities	1,257,708	1,129,851
Long-term debt	0	0
Deferred income tax liability	13	13
Other long-term liabilities	9,895	9,436
Total partners' equity	816,680	874,629
Total liabilities and partners' equity	2,084,296	2,013,929
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	32,693	35,067	$ 31,848	$ 117,973
Receivables, net	152,041	167,570
Inventories	14,984	33,724
Other current assets	9,904	10,446
Intercompany receivable	0	57,785
Total current assets	209,622	304,592
Property, plant and equipment, net	1,701,249	1,197,972
Intangible assets, net	736,453	56,050
Goodwill	775,838	376,532
Investment in wholly owned subsidiaries	816,809	874,649
Deferred income tax asset	1,070	2,051
Other long-term assets, net	8,842	11,880
Total assets	4,249,883	2,823,726
Liabilities and Partners' Equity
Accounts payable	57,089	84,854
Short-term debt	0	0
Current portion of long-term debt	0
Accrued interest payable	31	22
Accrued liabilities	29,137	41,531
Taxes other than income tax	7,404	5,453
Income tax payable	2,282	5,179
Intercompany payable	1,467,471	0
Total current liabilities	1,563,414	137,039
Long-term debt	45,691	58,026
Deferred income tax liability	21,291	20,329
Other long-term liabilities	43,574	49,170
Total partners' equity	2,575,913	2,559,162
Total liabilities and partners' equity	$ 4,249,883	$ 2,823,726

CONDENSED CONSOLIDATING FINAN66

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Table 2 - Condensed Consolidating Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 440,566	$ 441,418	$ 1,363,484	$ 1,284,925
Costs and expenses	348,849	353,464	1,101,224	1,011,189
Operating (loss) income	91,717	87,954	262,260	273,736
Equity in earnings (loss) of subsidiaries	0	0	0	0
Interest (expense) income, net	(45,256)	(35,022)	(127,282)	(103,374)
Other income (expense), net	(5,126)	362	(4,898)	(10)
Income (loss) before income tax expense	41,335	53,294	130,080	170,352
Income tax expense (benefit)	2,743	2,153	7,298	9,293
Net income (loss)	38,592	51,141	122,782	161,059
Comprehensive income (loss)	44,482	48,652	133,566	120,453
Eliminations
Condensed Financial Statements, Captions [Line Items]
Revenues	(139)	(361)	(773)	(1,073)
Costs and expenses	(139)	(361)	(773)	(1,073)
Operating (loss) income	0	0	0	0
Equity in earnings (loss) of subsidiaries	(94,655)	(120,377)	(304,220)	(359,453)
Interest (expense) income, net	0	0	0	0
Other income (expense), net	0	0	0	0
Income (loss) before income tax expense	(94,655)	(120,377)	(304,220)	(359,453)
Income tax expense (benefit)	0	0	0	0
Net income (loss)	(94,655)	(120,377)	(304,220)	(359,453)
Comprehensive income (loss)	(94,655)	(120,377)	(304,220)	(359,453)
Parent Company Guarantor [Member] | NuStar Energy | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	0	0	0	0
Costs and expenses	332	252	1,327	1,204
Operating (loss) income	(332)	(252)	(1,327)	(1,204)
Equity in earnings (loss) of subsidiaries	38,896	51,397	124,073	162,248
Interest (expense) income, net	28	0	36	0
Other income (expense), net	0	(4)	0	18
Income (loss) before income tax expense	38,592	51,141	122,782	161,062
Income tax expense (benefit)	0	0	0	3
Net income (loss)	38,592	51,141	122,782	161,059
Comprehensive income (loss)	38,592	51,141	122,782	161,059
Subsidiary Issuer [Member] | NuStar Logistics | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	127,980	131,696	380,504	383,836
Costs and expenses	77,668	79,443	237,086	221,839
Operating (loss) income	50,312	52,253	143,418	161,997
Equity in earnings (loss) of subsidiaries	(4,558)	(44)	(10,625)	(5,362)
Interest (expense) income, net	(46,247)	(43,832)	(129,551)	(124,619)
Other income (expense), net	57	378	140	400
Income (loss) before income tax expense	(436)	8,755	3,382	32,416
Income tax expense (benefit)	115	588	81	1,281
Net income (loss)	(551)	8,167	3,301	31,135
Comprehensive income (loss)	(1,031)	8,143	(1,592)	(14,687)
Guarantor Subsidiaries [Member] | NuPOP | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	58,871	53,158	161,689	159,272
Costs and expenses	38,709	37,957	106,296	104,958
Operating (loss) income	20,162	15,201	55,393	54,314
Equity in earnings (loss) of subsidiaries	20,809	25,819	69,770	71,273
Interest (expense) income, net	(1,455)	2,165	(4,160)	5,699
Other income (expense), net	(8)	(8)	1	(18)
Income (loss) before income tax expense	39,508	43,177	121,004	131,268
Income tax expense (benefit)	1	(29)	3	(24)
Net income (loss)	39,507	43,206	121,001	131,292
Comprehensive income (loss)	39,507	43,206	121,001	131,292
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Revenues	253,854	256,925	822,064	742,890
Costs and expenses	232,279	236,173	757,288	684,261
Operating (loss) income	21,575	20,752	64,776	58,629
Equity in earnings (loss) of subsidiaries	39,508	43,205	121,002	131,294
Interest (expense) income, net	2,418	6,645	6,393	15,546
Other income (expense), net	(5,175)	(4)	(5,039)	(410)
Income (loss) before income tax expense	58,326	70,598	187,132	205,059
Income tax expense (benefit)	2,627	1,594	7,214	8,033
Net income (loss)	55,699	69,004	179,918	197,026
Comprehensive income (loss)	$ 62,069	$ 66,539	$ 195,595	$ 202,242

CONDENSED CONSOLIDATING FINAN67

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Table 3 - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net cash provided by operating activities	$ 311,015	$ 314,549
Cash flows from investing activities:
Capital expenditures	(220,617)	(145,414)
Change in accounts payable related to capital expenditures	13,272	(15,504)
Acquisitions	(1,461,719)	0
Proceeds from sale or disposition of assets	2,023	0
Investment in subsidiaries	0	0
Proceeds from Axeon term loan	110,000	0
Net cash provided by (used in) investing activities	(1,557,041)	(160,918)
Cash flows from financing activities:
Debt borrowings	1,971,204	985,982
Debt repayments	(1,938,739)	(949,750)
Note offering, net of issuance costs	543,313	0
Issuance of preferred units, net of issuance costs	371,802	0
Issuance of common units, net of issuance costs	643,858	27,710
General partner contribution	13,597	575
Distributions to preferred unitholders	(26,681)	0
Distributions to common unitholders and general partner	(331,222)	(294,153)
Contributions from (distributions to) affiliates	0	0
Net intercompany activity	0	0
Other, net	(5,070)	(13,599)
Net cash provided by (used in) financing activities	1,242,062	(243,235)
Effect of foreign exchange rate changes on cash	1,637	3,404
Net increase (decrease) in cash and cash equivalents	(2,327)	(86,200)
Cash and cash equivalents as of the beginning of the period	35,942	118,862
Cash and cash equivalents as of the end of the period	33,615	32,662
Eliminations
Cash flows from operating activities:
Net cash provided by operating activities	(536,872)	(475,256)
Cash flows from investing activities:
Capital expenditures	0	0
Change in accounts payable related to capital expenditures	0	0
Acquisitions	0
Proceeds from sale or disposition of assets	0
Investment in subsidiaries	1,262,126	212,900
Proceeds from Axeon term loan	0
Net cash provided by (used in) investing activities	1,262,126	212,900
Cash flows from financing activities:
Debt borrowings	0	0
Debt repayments	0	0
Note offering, net of issuance costs	0
Issuance of preferred units, net of issuance costs	0
Issuance of common units, net of issuance costs	0	0
General partner contribution	0	0
Distributions to preferred unitholders	40,023
Distributions to common unitholders and general partner	496,849	441,246
Contributions from (distributions to) affiliates	(1,262,126)	(178,890)
Net intercompany activity	0	0
Other, net	0	0
Net cash provided by (used in) financing activities	(725,254)	262,356
Effect of foreign exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents as of the beginning of the period	0	0
Cash and cash equivalents as of the end of the period	0	0
Parent Company Guarantor [Member] | NuStar Energy | Reportable Legal Entities [Member]
Cash flows from operating activities:
Net cash provided by operating activities	355,864	292,572
Cash flows from investing activities:
Capital expenditures	0	0
Change in accounts payable related to capital expenditures	0	0
Acquisitions	0
Proceeds from sale or disposition of assets	0
Investment in subsidiaries	(1,262,000)	0
Proceeds from Axeon term loan	0
Net cash provided by (used in) investing activities	(1,262,000)	0
Cash flows from financing activities:
Debt borrowings	0	0
Debt repayments	0	0
Note offering, net of issuance costs	0
Issuance of preferred units, net of issuance costs	371,802
Issuance of common units, net of issuance costs	643,858	27,710
General partner contribution	13,597	575
Distributions to preferred unitholders	(26,681)
Distributions to common unitholders and general partner	(331,222)	(294,153)
Contributions from (distributions to) affiliates	0	0
Net intercompany activity	238,172	(25,372)
Other, net	(3,366)	(1,406)
Net cash provided by (used in) financing activities	906,160	(292,646)
Effect of foreign exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	24	(74)
Cash and cash equivalents as of the beginning of the period	870	885
Cash and cash equivalents as of the end of the period	894	811
Subsidiary Issuer [Member] | NuStar Logistics | Reportable Legal Entities [Member]
Cash flows from operating activities:
Net cash provided by operating activities	128,395	97,253
Cash flows from investing activities:
Capital expenditures	(34,964)	(53,491)
Change in accounts payable related to capital expenditures	(1,223)	(15,086)
Acquisitions	0
Proceeds from sale or disposition of assets	1,947
Investment in subsidiaries	0	0
Proceeds from Axeon term loan	110,000
Net cash provided by (used in) investing activities	75,760	(68,577)
Cash flows from financing activities:
Debt borrowings	1,901,504	965,082
Debt repayments	(1,856,739)	(918,550)
Note offering, net of issuance costs	543,313
Issuance of preferred units, net of issuance costs	0
Issuance of common units, net of issuance costs	0	0
General partner contribution	0	0
Distributions to preferred unitholders	(13,340)
Distributions to common unitholders and general partner	(165,611)	(147,076)
Contributions from (distributions to) affiliates	1,262,000	0
Net intercompany activity	(1,873,773)	75,165
Other, net	(1,486)	(3,298)
Net cash provided by (used in) financing activities	(204,132)	(28,677)
Effect of foreign exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	23	(1)
Cash and cash equivalents as of the beginning of the period	5	4
Cash and cash equivalents as of the end of the period	28	3
Guarantor Subsidiaries [Member] | NuPOP | Reportable Legal Entities [Member]
Cash flows from operating activities:
Net cash provided by operating activities	72,711	118,436
Cash flows from investing activities:
Capital expenditures	(18,138)	(43,329)
Change in accounts payable related to capital expenditures	4,445	2,645
Acquisitions	0
Proceeds from sale or disposition of assets	17
Investment in subsidiaries	0	(212,900)
Proceeds from Axeon term loan	0
Net cash provided by (used in) investing activities	(13,676)	(253,584)
Cash flows from financing activities:
Debt borrowings	0	0
Debt repayments	0	0
Note offering, net of issuance costs	0
Issuance of preferred units, net of issuance costs	0
Issuance of common units, net of issuance costs	0	0
General partner contribution	0	0
Distributions to preferred unitholders	(13,341)
Distributions to common unitholders and general partner	(165,611)	(147,077)
Contributions from (distributions to) affiliates	0	0
Net intercompany activity	119,917	282,226
Other, net	0	(1)
Net cash provided by (used in) financing activities	(59,035)	135,148
Effect of foreign exchange rate changes on cash	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents as of the beginning of the period	0	0
Cash and cash equivalents as of the end of the period	0	0
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Cash flows from operating activities:
Net cash provided by operating activities	290,917	281,544
Cash flows from investing activities:
Capital expenditures	(167,515)	(48,594)
Change in accounts payable related to capital expenditures	10,050	(3,063)
Acquisitions	(1,461,719)
Proceeds from sale or disposition of assets	59
Investment in subsidiaries	(126)	0
Proceeds from Axeon term loan	0
Net cash provided by (used in) investing activities	(1,619,251)	(51,657)
Cash flows from financing activities:
Debt borrowings	69,700	20,900
Debt repayments	(82,000)	(31,200)
Note offering, net of issuance costs	0
Issuance of preferred units, net of issuance costs	0
Issuance of common units, net of issuance costs	0	0
General partner contribution	0	0
Distributions to preferred unitholders	(13,342)
Distributions to common unitholders and general partner	(165,627)	(147,093)
Contributions from (distributions to) affiliates	126	178,890
Net intercompany activity	1,515,684	(332,019)
Other, net	(218)	(8,894)
Net cash provided by (used in) financing activities	1,324,323	(319,416)
Effect of foreign exchange rate changes on cash	1,637	3,404
Net increase (decrease) in cash and cash equivalents	(2,374)	(86,125)
Cash and cash equivalents as of the beginning of the period	35,067	117,973
Cash and cash equivalents as of the end of the period	$ 32,693	$ 31,848