FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Oliver Daniel S.   2. Issuer Name and Ticker or Trading Symbol NuStar Energy L.P. [NS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) SVP - Mktg & Bus Development (Last) (First) (Middle) 2330 NORTH LOOP 1604 WEST 3. Date of Earliest Transaction (Month/Day/Year) 01/28/2011 (Street) SAN ANTONIO, TX 78248 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Units 01/28/2011   A   1,557 (1) A $ 0 8,762 D   Common Units (tax withheld for performance unit vesting) 01/28/2011   F   466 D $ 68.96 8,296 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Oliver Daniel S. 2330 NORTH LOOP 1604 WEST SAN ANTONIO, TX 78248			SVP - Mktg & Bus Development

Signatures

/s/ Matthew D. Willcox, as Attorney-in-Fact for Daniel S. Oliver		02/01/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On January 28, 2011, the Compensation Committee of the Board of Directors of NuStar GP LLC, the general partner of NuStar Energy L.P.'s general partner, determined that NuStar Energy L.P.'s total unitholder return was in the top quartile of its peer group for 2010. As a result, the performance units granted to Mr. Oliver in 2008, 2009 and 2010 that were available to vest for 2010 performance vested at 150%, in accordance with the applicable agreements. Under the agreements, performance units available to vest that do not vest in a given year are carried forward for one year. In addition, under the omnibus amendments to the applicable award agreements, performance units that would have lapsed in January 2010 were carried forward for an additional year. These carried-forward units vested at 100%, in accordance with the agreements.

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