San Antonio-NuStar Energy LP reported that anhydrous ammonia throughputs on its ammonia pipeline were up 31.9 percent – or 95,000 st – during the third quarter ending Sept. 30, 2010, versus the year-ago quarter. Nine-month volumes increased 22.3 percent, or 197,000 st. “Better weather conditions this year in the Midwest and strong worldwide demand for corn caused throughputs on our ammonia line to be higher than in the third quarter 2009,” said Curt Anastasio, NuStar president and CEO. He said these increased volumes more than offset the 1.3 percent tariff reduction that went into place July 1 on the majority of NuStar pipelines, including the ammonia pipeline. As a result, overall pipeline segment revenues were up $2.6 million. NuStar told Green Markets that it follows a Federal Energy Regulatory Commission methodology for all its pipeline tariffs, including ammonia. Third-quarter revenues for all NuStar pipelines were $80.6 million, up from the year-ago $78 million, while operating income moved up to $37.5 million from the year-ago $35.4 million. Nine-month pipeline income was $106 million on sales of $232.8 million, compared to the year-ago income of $100.4 million on sales of $221.1 million. Company-wide, NuStar reported third-quarter net income of $68.3 million ($.90 per lp unit) on sales of $1.14 billion, versus the year-ago $64.4 million ($1.03 per unit) on sales of $1.25 billion. Nine-month net income was $187.4 million ($2.55 per unit) on sales of $3.2 billion, about level with the year-ago $187.5 million ($2.99 per unit) on sales of $2.87 billion.
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