NuStar CFO Steve Blank to Retire at Year-End; Tom Shoaf Selected as Successor

  NuStar CFO Steve Blank to Retire at Year-End; Tom Shoaf Selected as

                       Jorge Del Alamo Named Controller

            Amy Perry & Karen Thompson Promoted to General Counsel

Business Wire

SAN ANTONIO -- December 20, 2013

NuStar Energy L.P. (NYSE: NS) announced today that Steve Blank, Executive Vice
President and CFO of NuStar Energy L.P. and NuStar GP Holdings, plans to
retire from the company effective December 31, 2013. The company’s board of
directors has selected Tom Shoaf, NuStar’s Controller, to serve as Executive
Vice President and Chief Financial Officer upon Blank’s retirement, and Jorge
Del Alamo, NuStar’s Assistant Controller, has been promoted to Vice President
and Controller.

Steve Blank, NuStar's Executive Vice President & CFO, will retire at year-end.
(Photo: Business Wire ...

Steve Blank, NuStar's Executive Vice President & CFO, will retire at year-end.
(Photo: Business Wire)

The company also announced that Amy Perry and Karen Thompson, both of whom
serve as Vice President and Assistant General Counsel at NuStar, will succeed
Brad Barron, Executive Vice President and General Counsel, when he becomes
President and CEO on January 1, 2014. Perry is being promoted to Senior Vice
President, Corporate Secretary and General Counsel – Corporate & Commercial
Law, and Thompson is being promoted to Senior Vice President and General
Counsel – Litigation, Regulatory & Environmental.

Blank to Retire & Shoaf to Succeed Him as CFO

“Throughout his long career with the company, Steve has made countless
contributions to our success and has built a top-notch Accounting/Finance
organization from the ground up,” said Curt Anastasio, NuStar’s President and
CEO. “His fiscal responsibility, strong principles and personal integrity have
contributed to NuStar’s reputation as one of the most trustworthy companies in
corporate America. Also since our inception, Steve’s extensive knowledge of
the financial industry has been an important component of our strategic
planning effort.”

Barron praised Blank for contributing to NuStar’s growth and building one of
the best finance departments in the industry. “Steve contributed to NuStar’s
tremendous growth over the years as he was a key player in every major
transaction from the time of the formation of our company through today.
Thanks to Steve, we’re fortunate to have an outstanding Finance Department
with a great group of employees and many strong leaders who have numerous
years of experience, a thorough understanding of our business, and a
commitment to NuStar’s guiding principles.

“When we contemplated a successor for Steve, we knew that we wanted someone
who could work collaboratively with the other executives in Finance, as well
as in other departments at the corporate office and in our field operations.
And without a doubt, Tom  has the leadership skills, experience and
personality to do just that. We have no doubt that he will do a great job of
leading this organization as he has nearly 30 years of experience in his
field, solid leadership skills, the highest ethical standards, a strong work
ethic and great interpersonal skills,” said Barron.

Prior to becoming NuStar’s Controller eight years ago, Shoaf served in
positions of increasing responsibility with Valero Energy Corporation,
eventually becoming Director of Finance. Shoaf started his career as an
Accountant with City Public Service, San Antonio’s energy utility company,
after graduating with a bachelor of business administration degree in
accounting from Abilene Christian University. In recognition of his experience
and achievements over the years, Shoaf was named the Top Controller by the San
Antonio Business Journal in 2012.

Del Alamo Selected as Controller

“Tom has chosen an outstanding accounting executive and strong leader to
succeed him,” said Barron. “Jorge has done a great job in his current
position, as he has the unique ability to focus on the details without losing
sight of the big picture. He has helped ensure that our financial statements
reflect the most accurate and up-to-date disclosure, our budgets and forecasts
are as precise as possible, and our capital expenses are properly planned and

Del Alamo joined Valero in 2003 as Director of Sarbanes Oxley, and
subsequently moved over to NuStar as Director of Financial Reporting. Prior to
that, he served as the Controller of Fuego, Inc., as CFO and Controller of
Life Systems, Inc., and as a Sr. Manager of Ernst & Young LLP.

Perry & Thompson Appointed General Counsel

“Our Legal Department has a very strong leadership team and an outstanding
group of professionals who are incredibly smart, hard-working, dedicated and
accomplished,” said Barron. “And Amy Perry and Karen Thompson have done an
outstanding job of handling many complex legal issues, ranging from overseeing
complicated acquisitions to successfully resolving challenging legal disputes.
So I am looking forward to expanding their roles within the company and having
their involvement on the senior leadership team.”

Since joining the company nearly 11 years ago, Perry has overseen its
corporate finance and commercial transactions, corporate governance, external
legal reporting, and employee benefits issues. Prior to NuStar, she served as
Counsel – Corporate Law for Valero, and prior to that she practiced corporate,
mergers & acquisitions and securities law at DLA Piper in New York City and
Wilson Sonsini Goodrich & Rosati in Austin. In her new role, she will continue
to be responsible for the same areas within the company’s Legal Department and
will continue to serve as Corporate Secretary, but she also will oversee the
Ad Valorem Tax and Right-of-Way departments.

Thompson joined the company approximately 12 years ago, and since that time
she has resolved many complex issues, providing legal advice and support
regarding litigation, disputes, environmental and regulatory matters. Prior to
joining the company,she served as Managing Counsel for Valero and practiced
law at Mayor, Day, Caldwell & Keeton in Houston. Thompson will continue to be
responsible for all litigation and regulatory issues, plus she will now
oversee Risk Management, Health, Safety & Environmental, and Customs & Trade.

About NuStar Energy L.P.

NuStar Energy L.P., a publicly traded master limited partnership based in San
Antonio, is one of the largest independent liquids terminal and pipeline
operators in the nation. NuStar currently has 8,643 miles of pipeline; 87
terminal and storage facilities that store and distribute crude oil, refined
products and specialty liquids; and 50% ownership in a joint venture that owns
a terminal and an asphalt refinery with a throughput capacity of 74,000
barrels per day. The partnership’s combined system has approximately 97
million barrels of storage capacity, and NuStar has operations in the United
States, Canada, Mexico, the Netherlands, including St. Eustatius in the
Caribbean, the United Kingdom and Turkey. For more information, visit NuStar
Energy L.P.’s Web site at

Photos/Multimedia Gallery Available:



NuStar Energy L.P.
Mary Rose Brown, 210-918-2314
Chris Russell, 210-918-3507
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