Revised Consolidated Financial Information for the quarter ended March 31, 2008.

Exhibit 99.1

NuStar Energy L.P.

Consolidated Financial Information

March 31, 2008 and 2007

(unaudited, thousands of dollars, except unit data and per unit data)


	Three Months Ended March 31,
	2008			2007
	REVISED
Statement of Income Data:
Revenues:
Service revenues	$	180,116		$	160,353
Product sales		412,658			136,471

Total revenues		592,774			296,824

Costs and expenses:
Cost of product sales		393,009			127,927
Operating expenses		88,450			81,212
General and administrative expenses		16,083			14,908
Depreciation and amortization expense		30,046			27,342

Total costs and expenses		527,588			251,389

Operating income		65,186			45,435
Equity earnings from joint ventures		2,201			1,611
Interest expense, net		(16,865	)		(18,854	)
Other income, net		9,909			6,623

Income before income tax expense		60,431			34,815
Income tax expense		4,562			3,692

Net income		55,869			31,123
Less net income applicable to general partner (Note 1)		(6,202	)		(4,454	)

Net income applicable to limited partners	$	49,667		$	26,669

Net income per unit applicable to limited partners (Note 1)	$	1.01		$	0.57

Weighted average number of basic units outstanding		49,409,749			46,809,749

EBITDA (Note 2)	$	107,342		$	81,011

Distributable cash flow (Note 2)	$	73,339		$	52,228

	March 31, 2008			December 31, 2007
	REVISED
Balance Sheet Data:
Debt, including current portion (a)	$	2,203,299		$	1,446,289
Partners' equity (b)		1,992,448			1,994,832
Debt-to-capitalization ratio (a) / ((a)+(b))		52.5	%		42.0	%

NuStar Energy L.P.

Consolidated Financial Information—Continued

March 31, 2008 and 2007

(unaudited, thousands of dollars, except barrel information)


	Three Months Ended March 31,
	2008			2007
	REVISED
Operating Data:
Refined product terminals: (Note 3)
Throughput (barrels/day)		291,762			241,774
Throughput revenues	$	13,498		$	11,737
Storage lease revenues		83,708			73,864

Total revenues		97,206			85,601
Operating expenses		51,663			50,810
Depreciation and amortization expense		14,021			13,188

Segment operating income	$	31,522		$	21,603


Refined product pipelines: (Note 3)
Throughput (barrels/day)		694,772			616,728
Revenues	$	60,745		$	53,424
Operating expenses		25,918			24,365
Depreciation and amortization expense		11,368			11,008

Segment operating income	$	23,459		$	18,051


Crude oil pipelines:
Throughput (barrels/day)		405,964			347,617
Revenues	$	15,034		$	12,349
Operating expenses		3,939			3,373
Depreciation and amortization expense		1,237			1,233

Segment operating income	$	9,858		$	7,743


Crude oil storage tanks:
Throughput (barrels/day)		503,489			539,214
Revenues	$	11,907		$	10,813
Operating expenses		2,335			2,770
Depreciation and amortization expense		1,930			1,913

Segment operating income	$	7,642		$	6,130


Refining and marketing: (Note 3)
Product sales	$	412,658		$	136,471
Cost of product sales		396,182			129,043
Operating expenses		6,218			612
Depreciation and amortization expense		688			—

Segment operating income	$	9,570		$	6,816


Consolidation and intersegment eliminations:
Revenues	$	(4,776	)	$	(1,834	)
Cost of product sales		(3,173	)		(1,116	)
Operating expenses		(1,623	)		(718	)
Depreciation and amortization expense		802			—

Total	$	(782	)	$	—


Consolidated information:
Revenues	$	592,774		$	296,824
Cost of product sales		393,009			127,927
Operating expenses		88,450			81,212
Depreciation and amortization expense		30,046			27,342

Segment operating income		81,269			60,343
General and administrative expenses		16,083			14,908

Consolidated operating income	$	65,186		$	45,435

NuStar Energy L.P.

Consolidated Financial Information—Continued

March 31, 2008 and 2007

(unaudited, thousands of dollars, except unit data and per unit data)

Notes:

Net income is allocated between limited partners and the general partner's interests based on provisions in the partnership agreement. The net income applicable to limited partners is divided by the weighted average number of limited partnership units outstanding in computing the net income per unit applicable to limited partners. The following table details the calculation of net income applicable to the general partner:


	Three Months Ended March 31,
	2008			2007
	REVISED
Net income applicable to general partner and limited partners' interest	$	55,869		$	31,123
General partner incentive distribution		5,188			3,910

Net income after general partner incentive distribution		50,681			27,213
General partner interest		2	%		2	%

General partner allocation of net income after general partner incentive distribution		1,014			544
General partner incentive distribution		5,188			3,910

Net income applicable to general partner	$	6,202		$	4,454

NuStar Energy L.P. utilizes two financial measures, EBITDA and distributable cash flow, which are not defined in United States generally accepted accounting principles. Management uses these financial measures because they are widely accepted financial indicators used by investors to compare partnership performance. In addition, management believes that these measures provide investors an enhanced perspective of the operating performance of the partnership's assets and the cash that the business is generating. Neither EBITDA nor distributable cash flow are intended to represent cash flows for the period, nor are they presented as an alternative to net income. They should not be considered in isolation or as substitutes for a measure of performance prepared in accordance with United States generally accepted accounting principles.

The following is a reconciliation of net income to EBITDA and distributable cash flow:


	Three Months Ended March 31,
	2008			2007
	REVISED
Net income	$	55,869		$	31,123
Plus interest expense, net		16,865			18,854
Plus income tax expense		4,562			3,692
Plus depreciation and amortization expense		30,046			27,342

EBITDA		107,342			81,011
Less equity earnings from joint ventures		(2,201	)		(1,611	)
Less interest expense, net		(16,865	)		(18,854	)
Less reliability capital expenditures		(7,704	)		(4,626	)
Less income tax expense		(4,562	)		(3,692	)
Plus distributions from joint ventures		500			—
Mark-to-market impact on hedge transactions (a)		(3,171	)		—

Distributable cash flow		73,339			52,228
General partner's interest in distributable cash flow		(6,929	)		(4,864	)

Limited partners' interest in distributable cash flow	$	66,410		$	47,364

Weighted average number of limited partnership units outstanding		49,409,749			46,809,749
Distributable cash flow per limited partner unit	$	1.344		$	1.012

(a)	Distributable cash flow excludes the impact of mark-to-market gains and losses which arise from valuing certain derivative contracts that are considered economic hedges. We enter into these contracts to mitigate our exposure to price fluctuations related to our inventory.

The refining and marketing segment includes our two asphalt refineries, which we acquired on March 20, 2008, as well as our marketing and trading operations. During the fourth quarter of 2007, we revised the manner in which we internally evaluate our segment performance and made certain organizational changes. As a result, we changed the way we report our segmental information such that all product sales and related costs and assets are included in the refining and marketing segment. Previous periods have been restated to conform to this presentation.