Exhibit 12.01
NUSTAR ENERGY L.P.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, Except Ratio)

| Three Months |  |
| Ended |  |  |  |  |  |  |  |  |  |
| March 31, |  | Years Ended December 31,
| 2016 |  | 2015 |  | 2013 |  | 2012 |  | 2011 |  | 2010
Earnings: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations before provision for income taxes and income from equity investees | $ | 60,271 |  |  | $ | 320,658 |  |  | $ | 220,174 |  |  | $ | (132,786 | ) |  | $ | (132,173 | ) |  | $ | 225,771 |
Add: |  |  |  |  |  |  |  |  |  |  |
Fixed charges | 38,346 |  |  | 150,661 |  |  | 153,236 |  |  | 149,090 |  |  | 122,286 |  |  | 109,825 |
Amortization of capitalized interest | 421 |  |  | 1,573 |  |  | 1,385 |  |  | 1,216 |  |  | 1,012 |  |  | 793 |
Distributions from joint ventures | — |  |  | 2,500 |  |  | 7,587 |  |  | 7,956 |  |  | 6,364 |  |  | 14,374 |
Less: Interest capitalized | (1,162 | ) |  | (5,549 | ) |  | (5,667 | ) |  | (4,501 | ) |  | (7,737 | ) |  | (5,388 | )
Total earnings | $ | 97,876 |  |  | $ | 469,843 |  |  | $ | 376,715 |  |  | $ | 20,975 |  |  | $ | (10,248 | ) |  | $ | 345,375 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net | $ | 34,123 |  |  | $ | 131,868 |  |  | $ | 132,281 |  |  | $ | 127,119 |  |  | $ | 90,535 |  |  | $ | 81,539 |
Interest capitalized | 1,162 |  |  | 5,549 |  |  | 5,667 |  |  | 4,501 |  |  | 7,737 |  |  | 5,388 |
Rental expense interest factor (a) | 3,061 |  |  | 13,244 |  |  | 15,288 |  |  | 17,470 |  |  | 24,014 |  |  | 22,898 |
Total fixed charges | $ | 38,346 |  |  | $ | 150,661 |  |  | $ | 153,236 |  |  | $ | 149,090 |  |  | $ | 122,286 |  |  | $ | 109,825 |
Ratio of earnings to fixed charges | 2.6x |  |  | 3.1x |  |  | 2.5x |  |  | (b) |  |  | (c) |  |  | 3.1x |

(a) | The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense.

(b) | For the year ended December 31, 2013, earnings were insufficient to cover fixed charges by $128.1 million. The deficiency included a goodwill impairment loss of $304.5 million related to the Statia terminals reporting unit.

(c) | For the year ended December 31, 2012, earnings were insufficient to cover fixed charges by $132.5 million. The deficiency included the effect of $271.8 million of impairment losses mainly resulting from the write-down of the carrying value of our long-lived assets related to our asphalt operations, including fixed assets, goodwill, intangible assets and other long-term assets.