Global Partners LP (GLP) Stock

Global Partners LP, headquartered in Waltham, Massachusetts since its incorporation in 2005, is a key player in the energy distribution sector. The company specializes in purchasing, selling, gathering, blending, storing, and transporting gasoline, gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane. Serving wholesalers, retailers, and commercial customers across the New England states, Mid-Atlantic region, and New York, Global Partners LP also facilitates the transportation of petroleum products and renewable fuels via rail from the mid-continent region of the United States and Canada.

The company's Wholesale segment is dedicated to selling home heating oil, branded and unbranded gasoline, gasoline blendstocks, diesel, kerosene, residual oil, and propane to home heating oil retailers and wholesale distributors. It aggregates crude oil through truck or pipeline in the mid-continent region and transports it by rail and barge to refiners. The Gasoline Distribution and Station Operations segment provides branded and unbranded gasoline to gasoline station operators and sub-jobbers, operates gasoline stations and convenience stores, and offers car wash, lottery, and ATM services, while also leasing gasoline stations.

Global Partners LP's Commercial segment focuses on selling and delivering unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel to public sector entities, as well as commercial and industrial end-users. Additionally, it offers custom-blended fuels. As of December 31, 2021, the company's extensive portfolio included 1,595 owned, leased, and supplied gasoline stations, 295 of which were directly operated convenience stores, and storage facilities at 26 bulk terminals with a total capacity of 11.9 million barrels. Global GP LLC serves as the general partner of Global Partners LP, guiding its strategic direction and operations.