Global Partners LP (GLP) Research

Global Partners LP (GLP) operates as a comprehensive energy logistics and distribution company, specializing in the end-to-end management of a diverse range of petroleum products and alternative fuels. This includes gasoline, blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane. The company's operations span purchasing, selling, gathering, blending, storing, and transporting these commodities to a broad clientele of wholesalers, retailers, and commercial customers across the Northeastern United States, specifically New England, the Mid-Atlantic region, and New York. Beyond its regional distribution network, GLP also engages in the rail transportation of petroleum products and renewable fuels originating from the mid-continent regions of the U.S. and Canada. The company's business activities are segmented as follows: Wholesale Segment: This division supplies home heating oil, both branded and unbranded gasoline and blendstocks, diesel, kerosene, residual oil, and propane to a customer base comprising home heating oil retailers and wholesale distributors. Additionally, this segment is responsible for aggregating crude oil from the mid-continent U.S. and Canada, utilizing trucks or pipelines for collection, and subsequently moving it by rail and barge to refining facilities. Gasoline Distribution and Station Operations Segment: Focusing on retail and distribution, this segment sells branded and unbranded gasoline to station operators and sub-jobbers. It also directly manages a portfolio of gasoline stations and attached convenience stores, offering complementary services such as car washes, lottery ticket sales, and ATM access, alongside leasing gasoline stations. Commercial Segment: This segment caters to public sector clients, commercial enterprises, and industrial end-users, providing and delivering unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel. It also offers tailored, custom-blended fuel solutions. As of December 31, 2021, GLP commanded a significant infrastructure, including 1,595 gasoline stations (a combination of owned, leased, and supplied sites), 295 of which were directly operated convenience stores. Furthermore, the company owned, leased, or maintained storage facilities at 26 bulk terminals, boasting a collective storage capacity of 11.9 million barrels. Global GP LLC serves as the general partner for Global Partners LP. Established in 2005, the company's headquarters are located in Waltham, Massachusetts.

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