Steve Blank, Senior Vice President, CFO and Treasurer February 7, 2012 2012 Credit Suisse Energy Summit 1 Exhibit 99.1

Statements contained in this presentation that state management’s expectations or predictions of the future are forward-looking statements as defined by federal securities law. The words “believe,” “expect,” “should,” “targeting,” “estimates,” and other similar expressions identify forward- looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see NuStar Energy L.P.’s and NuStar GP Holdings, LLC’s respective annual reports on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and available on NuStar’s websites at www.nustarenergy.com and www.nustargpholdings.com. Forward Looking Statements 2

NuStar Overview 3

NuStar Energy L.P. (NYSE: NS) is a leading publicly traded partnership with a market capitalization of approximately $4.2 billion and an enterprise value of approximately $6.6 billion NuStar GP Holdings, LLC (NYSE: NSH) holds the 2% general partner interest, incentive distribution rights and 14.3% of the common units in NuStar Energy L.P. NSH has a market capitalization of around $1.4 billion Two Publicly Traded Companies NS NSH IPO Date 4/16/2001 7/19/2006 Unit Price (01/31/12) $58.79 $33.65 Annualized Distribution/Unit $4.38 $1.98 Yield (01/31/12) 7.45% 5.88% Market Capitalization $4,159 million $1,432 million Enterprise Value $6,626 million $1,441 million Credit Ratings – Moody’s Baa3/Stable n/a S&P BBB-/Stable n/a Fitch BBB-/Negative n/a 82.3% Membership Interest 83.7% L.P. Interest Public Unitholders 35.0 Million NSH Units Public Unitholders 60.4 Million NS Units 17.7% Membership Interest 2.0% G.P. Interest 14.3% L.P. Interest Incentive Distribution Rights William E. Greehey 7.6 Million NSH Units NYSE: NSH NYSE: NS 4

Large and Diverse Geographic Footprint with Assets in Key Locations Asset Stats: Operations in the U.S., Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. Own 89 terminal and storage facilities Approximately 98 million barrels of storage capacity 8,417 miles of crude oil and refined product pipelines 2 asphalt refineries and a fuels refinery capable of processing 118,500 bpd of crude oil 5

46% 34% 20% Percentage of Full Year 2011 Segment Operating Income Approximately 80% of NuStar Energy’s 2011 segment operating income came from fee-based transportation and storage segments Storage: 46% Transportation: 34% Refined Product Terminals Crude Oil Storage Refined Product Pipelines* Crude Oil Pipelines Asphalt & Fuels Marketing: 20% Asphalt Operations Fuels Marketing Operations Product Supply, Crude Oil Trading, Bunkering and Fuel Oil Marketing San Antonio Refinery Diversified Operations from Three Business Segments * Includes primarily distillates, gasoline, propane, jet fuel, ammonia and other light products. Does not include natural gas. 6

Distributions for both NS and NSH have grown every year since IPO’s.. should continue to grow distribution in the future NS Distribution ($ per Unit) NSH Distribution ($ per Unit) ~6.2% CAGR ~9.1% CAGR * Annualized Distribution 7

Storage Segment Overview 8

Outlook 2012 segment EBITDA expected to be higher than 2011 St. James, LA storage expansion project completed in 3rd quarter of 2011 should provide a full year’s benefit to results in 2012 Expect to complete additional internal growth projects in St. James, Texas City and St. Eustatius during 2012 1 – Please see slide 31 for a reconciliation of Storage Segment EBITDA to its most directly comparable GAAP measure, Operating Income Storage Segment EBITDA ($ in Millions)¹ Storage Contract Renewals (% of Revenues) Storage Segment EBITDA expected to continue to increase 9 < 1 Year 1 to 3 Years 3 to 5 Years > 5 Years 24% 47% 12% 17% 2006 2007 2008 2009 2010 2011 $162 $177 $208 $242 $256 $281

Storage expansion continues at our St. James, Louisiana Terminal St. James Terminal 10 St. James Third-Party Expansion – Phase 2 Should be similar in size and cost to Phase 1 project Phase 1 project 3.2 million barrels at a cost of $140 million Most tankage should be crude storage Expected in-service early 2013

Have begun the construction of a unit train offloading facility at our St. James facility Entered into an agreement with two subsidiaries of EOG Resources, Inc. EOG is a large independent oil and natural gas company Proved reserves in the United States, Canada, the UK and China Project description: New rail and unit train offloading facilities jointly developed by NuStar and two EOG Resources, Inc. subsidiaries Facility will be equipped to handle at least one 70,000-barrel train per day Two new storage tanks with a combined capacity of 360,000 barrels Costs and completion dates: Project expected to be completed and in service 2nd quarter 2012 NuStar’s share of the costs should be approximately $35 million 11

In the process of constructing new tanks for distillate service at our St. Eustatius terminal Constructing one million barrels of new storage for distillate service Customer is a large national oil company Projected cost around $50 million Expected in-service 4th quarter 2012 Currently evaluating a major expansion project at the St. Eustatius terminal 12

Transportation Segment Overview 13

Transportation Segment EBITDA ($ in Millions)¹ Pipeline Receipts by Commodity Growth in Eagle Ford Shale should lead to future growth in Transportation Segment EBITDA Gasoline 29% Other* 13% *Other includes ammonia, jet fuel, propane, naphtha and light end refined products Crude Oil 40% Distillate 18% Outlook 2012 segment EBITDA expected to be higher than 2011 2012 results should receive a full year benefit from two Eagle Ford shale crude pipeline internal growth projects brought on-line during 2011 Throughputs projected to increase in 2012 primarily as a result of 2011 internal growth projects 14 2006 2007 2008 2009 2010 2011 $170 $176 $186 $190 $199 $197 1 – Please see slide 31 for a reconciliation of Transportation Segment EBITDA to its most directly comparable GAAP measure, Operating Income

Various shale formations could provide growth opportunities Key shale formations located in NuStar’s Mid-Continent and Gulf Coast regions, include the Eagle Ford, Bakken, Granite Wash, Barnett, and Niobrara 15

NuStar has modified existing pipeline assets and plans to construct new pipeline assets for Valero in Eagle Ford Shale Reversed an existing 8-inch refined products pipeline Line moved products from Corpus Christi to Three Rivers Placed in crude oil service after September 2011 reversal Capital spending required to reverse the line around $2 million NuStar also plans to build 55 miles of new 12-inch pipeline that will connect to existing NuStar pipeline segments Expect to move crude and condensate from Corpus Christi to Valero’s Three Rivers refinery Projected cost $60 to $70 million Expected to be in service in the 3 quarter of 2012 16 rd

Plan to modify existing pipeline assets and construct new pipeline assets for Valero in Eagle Ford Shale New NuStar Pipeline Existing NuStar Pipeline Valero West Plant CORPUS CHRISTI THREE RIVERS REFINERY 8” line 12” line 17

Plan to develop new pipeline systems in the Eagle Ford Shale 18 TexStar plans to construct a pipeline that transports crude and condensate to Three Rivers, TX Pipeline should be interconnected with a new storage facility to be constructed at Three Rivers, TX by NuStar . Plan to connect the storage facility to NuStar’s existing 16-inch pipeline that can transport 200,000 BPD to NuStar’s Corpus Christi North Beach storage terminal Currently evaluating others pipeline projects in South Texas with several major oil companies Project expected to be in-service 4th quarter 2012

Plan to develop a new pipeline system in the Eagle Ford Shale as a result of a Letter of Intent entered into with TexStar in the 2nd Quarter of 2011 Potential New 3 Party Pipeline Existing NuStar Pipeline Potential New Storage Facility NORTH BEACH OAKVILLE 16” line 19 rd

Pursuing additional projects in the Eagle Ford Shale to better utilize Houston 12” line and idle 8” line out of Pettus Potential New NuStar Pipeline Existing NuStar Pipeline Potential New Storage Facility NORTH BEACH OAKVILLE 16” line PETTUS Underutilized Existing NuStar Pipeline 8” line 12” line 20

Asphalt & Fuels Marketing Segment Overview 21

Despite weaker than expected Asphalt demand Asphalt & Fuels Marketing Segment 2011 EBITDA comparable to 2010 Outlook 2012 segment results expected to be higher than 2011 U.S. asphalt demand projected to continue to be weak in 2012 Asphalt operations margins for 2012 forecasted to improve over 2011 2012 projections include a full year of results from the San Antonio refinery Asphalt & Fuels Marketing Segment EBITDA ($ in Millions)¹ 22 2006 2007 2008 2009 2010 2011 $27 $22 $127 $80 $111 $108 1 – Please see slide 31for a reconciliation of Asphalt & Fuels Marketing Segment EBITDA to its most directly comparable GAAP measure, Operating Income

Financial Overview 23

2011 Financial Results 2011 Full Year Distributable Cash Flow available to limited partners, EBITDA and Operating Income higher than 2010 Distributable Cash Flow available to limited to partners increased from $281 million to $308 million EBITDA increased from $483 million to $490 million Operating income increased from $303 million to $314 million December 31, 2011 Debt balance $2.3 billion Debt to capitalization ratio 44.5% 24 – Please see slide 32 for a reconciliation of Distributable Cash Flow available to limited partners and EBITDA to their most comparable GAAP measures.

2009 2010 2011 Estimate $164 $262 $294 2009 - 2011 Internal Growth Project Spending Internal Growth Project Spending continues to grow…..2012 internal growth spending should be in the $350 to $400 million range ( Dollars in Millions) 25

$0 $250 $500 $750 $1,000 2011 2012 2013 2018 2020 2038-2041 $456 $350 $33 Misc. Note UK Term Loan GO Zone Financing Senior Public Notes Revolver $1 $840 $480 $350 $450 $365 Debt Maturity Profile Debt Maturities as of September 30, 2011 (Millions $) 26 Debt structure approximately 50% fixed rate – 50% variable rate As of January 31st , 2012 revolver balance $320 million 2012 total maturities as of January 31st ~ $700 million

2012 Financing Plan Recently closed on $250 Million bond issuance Coupon 4.75%, bonds mature February 2022 Proceeds initially used to paydown revolver balance, eventually used to pay off $250 million February 2012 bond maturity $100 million bond matures in July Plan to refinance with borrowings under the revolver Refinance $1.2 billion revolver (matures December 2012) by end of second quarter 2012 At time of refinancing may upsize to $1.5 billion Refinance $30 million NuStar GP Holdings revolver in second quarter 2012 (matures July 2012) Refinance 21 million pound UK Term Loan in the fourth quarter 2012 (matures December 2012) 27

High quality, large and diverse asset footprint supporting energy infrastructure both in the U.S. and internationally Contracted fee-based storage and transportation assets provide stable cash flows, delivering approximately 80% of 2011 segment operating income Diverse and high quality customer base composed of large integrated oil companies, national oil companies and refiners Strong balance sheet, credit metrics and commitment to maintain investment grade credit ratings Experienced and proven management team with substantial equity ownership and industry experience Recognized nationally for safety and environmental record as well as one of the best places to work Successfully raised $311 million of equity in December 2011 NuStar Highlights 28

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Appendix 30

Reconciliation of Non-GAAP Financial Information - Segmental 31 (Unaudited, Dollars in Thousands) The following is a reconciliation of operating income to EBITDA for the Storage Segment: 2006 2007 2008 2009 2010 2011 Operating income 108,486 $ 114,635 $ 141,079 $ 171,245 $ 178,947 $ 193,395 $ Plus depreciation and amortization expense 53,121 62,317 66,706 70,888 77,071 87,737 EBITDA 161,607 $ 176,952 $ 207,785 $ 242,133 $ 256,018 $ 281,132 $ The following is a reconciliation of operating income to EBITDA for the Transportation Segment: 2006 2007 2008 2009 2010 2011 Operating income 122,714 $ 126,508 $ 135,086 $ 139,869 $ 148,571 $ 145,613 $ Plus depreciation and amortization expense 47,145 49,946 50,749 50,528 50,617 51,175 EBITDA 169,859 $ 176,454 $ 185,835 $ 190,397 $ 199,188 $ 196,788 $ The following is a reconciliation of operating income to EBITDA for the Asphalt and Fuels Marketing Segment: 2006 2007 2008 2009 2010 2011 Operating income 26,815 $ 21,111 $ 112,506 $ 60,629 $ 90,861 $ 85,229 $ Plus depreciation and amortization expense - 423 14,734 19,463 20,257 22,636 EBITDA 26,815 $ 21,534 $ 127,240 $ 80,092 $ 111,118 $ 107,865 $ NuStar Energy L.P. utilizes a financial measure, EBITDA, that is not defined in United States generally accepted accounting principles. Management uses this financial measure because it is a widely accepted financial indicator used by investors to compare partnership performance. In addition, management believes that this measure provides investors an enhanced perspective of the operating performance of the partnership's assets. EBITDA is not intended nor presented as an alternative to operating income. EBITDA should not be considered in isolation or as a substitute for a measure of performance prepared in accordance with United States generally accepted accounting principles. EBITDA in the following reconciliations relate to our operating segments. For purposes of segment reporting we do not allocate general and administrative expenses to our reported operating segments because those expenses relate primarily to the overall management at the entity level. Therefore, EBITDA reflected in the following reconciliations exclude any allocation of general and administrative expenses consistent with our policy for determining segmental operating income, the most directly comparable GAAP measure. Year Ended December 31, Year Ended December 31, Year Ended December 31, Our independent registered public accounting firm has not completed its audit of NuStar Energy's financial statements for the year ended December 31, 2011. As a result, the financial results for the full year ended December 31, 2011, which appear below, are subject to change.

Reconciliation of Non-GAAP Financial Information - Consolidated 32 (Unaudited, Dollars in Thousands) The following is a reconciliation of net income to EBITDA and distributable cash flow: 2011 2010 Net income 221,601 $ 238,970 $ Plus interest expense, net 83,681 78,280 Plus income tax expense 16,879 11,741 Plus depreciation and amortization expense 168,286 153,802 EBITDA 490,447 482,793 Less equity in earnings of joint venture (11,458) (10,500) Less interest expense, net (83,681) (78,280) Less reliability capital expenditures (50,339) (54,031) Less income tax expense (16,879) (11,741) Plus distributions from joint venture 14,374 9,625 Mark-to-market impact on hedge transactions (a) 456 (17,640) Contingent loss adjustment 3,250 - Other non-cash items 5,093 - Distributable cash flow 351,263 $ 320,226 $ EBITDA 490,447 $ 482,793 $ EBITDA attributable to noncontrolling interest 415 - EBITDA attributable to NuStar Energy L.P. 490,032 $ 482,793 $ Distributable cash flow 351,263 $ 320,226 $ Distributable cash flow attributable to noncontrolling interest 441 - Distributable cash flow attributable to NuStar Energy L.P. 350,822 $ 320,226 $ General partner's interest in distributable cash flow 42,956 39,531 Limited partners' interest in distributable cash flow 307,866 $ 280,695 $ a) 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. Year Ended December 31, Our independent registered public accounting firm has not completed its audit of NuStar Energy's financial statements for the year ended December 31, 2011. As a result, the financial results for the full year ended December 31, 2011, which appear below, are subject to change. Distributable cash flow excludes the impact of unrealized mark-to-market gains and losses that arise from valuing certain derivative contracts, as well as the associated hedged inventory. The gain or loss associated with these contracts is realized in distributable cash flow when the contracts are settled.