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Terminal operator, asphalt refiner and bunker supplier NuStar Energy L.P. has announced that it is ranked 38th in Fortune's 100 Best Companies to Work For' list. It is the fifth year in a row that the company has made the list.

Nustar is one of only five energy firms on the magazine’s 16th annual top employer list, along with Hilcorp Energy Company, Chesapeake Energy, Devon Energy and EOG Resources.

"Of course, it’s our employees who make NuStar such a great place to work," said Curt Anastasio, President and CEO of NuStar Energy. "We are deeply appreciative of all that they do day in and day out to operate our business safely and reliably and position our company for the future.

"Our employees worked very hard last year to help forge a new strategic direction for NuStar. And we are excited about our outlook for the future, as we are expanding our presence in the lucrative Eagle Ford Shale through some major transactions and expansion projects in the region, and we have many other internal growth projects that also have great rates of return. And what’s really exciting is that we have so many more great opportunities for growth that we believe will be transformative for NuStar in the coming years," commented Anastasio.

Some of the considerations in NuStar’s selection for the 100 Best honour include the company’s employee benefits plan, which has been rated the best in its industry by Hewitt Associates; its reward and recognition programs; commitment to volunteerism and charitable giving; and special corporate culture.

NuStar, which has a voluntary turnover rate of only 3 percent, offers all-employee bonuses; a retirement savings plan that includes a 401(k) match of 100 percent up to 6 percent of pay and a company-funded retirement plan; company-paid health and welfare benefits that are 100 percent funded for employees and their families; plus a health and wellness program.

The company also has never had a layoff in its history, and instills in employees the philosophy that 'if they do a good job, they will always have a good job'.

Methodology for the "100 Best Companies to Work For" List

To pick the 100 Best Companies to Work For, Fortune partners with the Great Place to Work Institute to conduct one of the most extensive employee surveys in corporate America. 259 firms participated in this year’s survey. More than 277,000 employees at those companies responded to a survey created by the institute, a global research and consulting firm operating in 45 countries around the world.

Two-thirds of a company’s score is based on the results of the institute’s Trust Index survey, which is sent to a random sample of employees from each company. The survey asks questions related to their attitudes about management’s credibility, job satisfaction, and camaraderie.

The other third is based on responses to the institute’s Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communication, training, recognition programs, and diversity efforts.

Any company that is at least five years old and has more than 1,000 U.S. employees is eligible.