NuStar Energy LP reported a net loss of $148 million for the first quarter as the oil and gas market struggles.
The net loss, which equates to $1.68 per unit, comes as NuStar (NYSE: NS) recorded a $225 million noncash goodwill impairment charge due to a decline in demand for oil and refined products largely related to the coronavirus pandemic’s impact on the economy, according to a Tuesday news release.
“As people sheltered in place to stop the spread of the virus and energy demand plummeted, that…
