Global Partners LP
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- Global Partners LP Global Partners LP (NYSE: GLP), a master limited partnership founded in 2005 with roots tracing back to 1933, serves as a leading midstream logistics and marketing company headquartered in Waltham, Massachusetts. The company engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates including diesel and heating oil, residual oil, renewable fuels such as biodiesel and ethanol, crude oil, propane, natural gas, and bunker fuel to wholesalers, retailers, gasoline station operators, sub-jobbers, commercial and industrial end-users, and public sector customers; it operates through three segments—Wholesale, which supplies branded and unbranded gasoline, home heating oil, kerosene, and residual oil via railcars, barges, trucks, and pipelines; Gasoline Distribution and Station Operations (GDSO), which distributes fuels to over 1,700 owned, leased, or supplied retail locations featuring convenience stores, prepared foods, car washes, lottery, and ATM services primarily across Northeast states, the Mid-Atlantic, and Texas; and Commercial, which delivers custom-blended fuels and energy products with a focus on the Northeast U.S. Global maintains dedicated storage at 54 liquid energy terminals connected to rail, pipeline, and marine assets spanning from Maine to Florida and into the U.S. Gulf States, while offering low-carbon solutions like GlobalGLO to support carbon footprint reduction. In recent developments, Global Partners LP completed the acquisition of a 959,730-barrel liquid energy terminal in East Providence, Rhode Island, from ExxonMobil Oil Corporation in November 2024, enhancing gasoline infrastructure, truck rack capacity, and supply optionality for its Northeast retail and marketing operations while adding surplus real estate for future development; the company also issued $450 million in senior unsecured notes due 2033 in June 2025, co-issued with GLP Finance Corp. and guaranteed by subsidiaries, to bolster its capital structure amid ongoing terminal expansions and diversification into renewable fuels.
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