San Antonio pipeline operator NuStar Energy LP is the latest energy company to announce major spending cuts to protect itself from a low price oil market.
NuStar (NYSE: NS) plans to reduce projected spending this year by about $100 million and possibly more, spokesman Chris Cho said. Though it expects to find additional cuts, the company’s 1,400 employees need not worry, Cho said. More than 500 of those employees work at NuStar’s headquarters and its San Antonio-based terminals.
“We have a no-layoff…