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

| Three Months |  |
| Ended |  |  |  |  |  |  |  |  |  |
| March 31, |  | Years Ended December 31,
| 2018 |  | 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013
Earnings: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations before provision for income taxes and income from equity investees | $ | 126,133 |  |  | $ | 157,901 |  |  | $ | 161,976 |  |  | $ | 320,658 |  |  | $ | 220,174 |  |  | $ | (132,786 | )
Add: |  |  |  |  |  |  |  |  |  |  |
Fixed charges | 54,273 |  |  | 190,674 |  |  | 154,085 |  |  | 150,661 |  |  | 153,236 |  |  | 149,090 |
Amortization of capitalized interest | 504 |  |  | 1,871 |  |  | 1,722 |  |  | 1,573 |  |  | 1,385 |  |  | 1,216 |
Distributions from joint ventures | — |  |  | — |  |  | — |  |  | 2,500 |  |  | 7,587 |  |  | 7,956 |
Less: |  |  |  |  |  |  |  |  |  |  |
Interest capitalized | (2,993 | ) |  | (5,529 | ) |  | (3,414 | ) |  | (5,549 | ) |  | (5,667 | ) |  | (4,501 | )
Total earnings | $ | 177,917 |  |  | $ | 344,917 |  |  | $ | 314,369 |  |  | $ | 469,843 |  |  | $ | 376,715 |  |  | $ | 20,975 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net | $ | 47,772 |  |  | $ | 173,083 |  |  | $ | 138,350 |  |  | $ | 131,868 |  |  | $ | 132,281 |  |  | $ | 127,119 |
Interest capitalized | 2,993 |  |  | 5,529 |  |  | 3,414 |  |  | 5,549 |  |  | 5,667 |  |  | 4,501 |
Rental expense interest factor (a) | 3,508 |  |  | 12,062 |  |  | 12,321 |  |  | 13,244 |  |  | 15,288 |  |  | 17,470 |
Total fixed charges | $ | 54,273 |  |  | $ | 190,674 |  |  | $ | 154,085 |  |  | $ | 150,661 |  |  | $ | 153,236 |  |  | $ | 149,090 |
Preferred unit distributions (b) | $ | 15,990 |  |  | $ | 40,448 |  |  | $ | 1,925 |  |  |  |  |  |  |
Total fixed charges plus preferred unit distributions (b) | $ | 70,263 |  |  | $ | 231,122 |  |  | $ | 156,010 |  |  |  |  |  |  |
Ratio of earnings to fixed charges | 3.3x |  |  | 1.8x |  |  | 2.0x |  |  | 3.1x |  |  | 2.5x |  |  | (c) |
Ratio of earnings to fixed charges plus preferred unit distributions (b) | 2.5x |  |  | 1.5x |  |  | 2.0x |  |  |  |  |  |  |

(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 years ended December 31, 2015, 2014 and 2013, we had no preferred units outstanding.

(c) | 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.