Exhibit 12.01

NUSTAR ENERGY L.P.

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Thousands of Dollars, Except Ratio)

	Years Ended December 31,
	2014			2013			2012			2011			2010
Earnings:
Income (loss) from continuing operations before provision for income taxes and income from equity investees	$	220,174		$	(132,786	)	$	(132,173	)	$	225,771		$	244,917
Add:
Fixed charges	153,236			149,090			122,286			109,825			102,642
Amortization of capitalized interest	1,385			1,216			1,012			793			642
Distributions from joint ventures	7,587			7,956			6,364			14,374			9,625
Less: Interest capitalized	(5,667		)	(4,501		)	(7,737		)	(5,388		)	(3,701		)
Total earnings	$	376,715		$	20,975		$	(10,248	)	$	345,375		$	354,125
Fixed charges:
Interest expense, net	$	132,281		$	127,119		$	90,535		$	81,539		$	77,764
Interest capitalized	5,667			4,501			7,737			5,388			3,701
Rental expense interest factor (a)	15,288			17,470			24,014			22,898			21,177
Total fixed charges	$	153,236		$	149,090		$	122,286		$	109,825		$	102,642
Ratio of earnings to fixed charges	2.5x			(b)			(c)			3.1x			3.5x

(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.