Description

Global Partners LP functions as a significant energy logistics and marketing firm, overseeing the complete supply chain for a range of petroleum products and renewable fuels. Its operations involve sourcing, purchasing, aggregating, blending, storing, and distributing commodities like gasoline, its blendstocks, distillates, heating oil, crude oil, and propane. The company supplies these products to wholesalers, retailers, and commercial clients primarily across the Northeastern United States, encompassing New England, the Mid-Atlantic, and New York. Beyond regional distribution, Global Partners LP is also engaged in transporting petroleum products and renewable fuels by rail from the mid-continent areas of both the United States and Canada. It further facilitates the collection of crude oil via truck or pipeline from these same mid-continent sources, moving it onward by rail and then by barge to refineries. The company's business is organized into distinct segments: The Wholesale segment distributes various fuels, including home heating oil, both branded and unbranded gasoline and blendstocks, diesel, kerosene, residual oil, and propane, to independent heating oil retailers and other wholesale distributors. The Gasoline Distribution and Station Operations segment focuses on providing branded and unbranded gasoline to independent station operators and sub-jobbers. This segment also directly manages and runs gasoline stations, many of which incorporate convenience stores, offering additional services such as car washes, lottery sales, and ATM access, in addition to leasing out gasoline station properties. The Commercial segment caters to public sector entities, along with commercial and industrial end-users, by supplying unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel. This division also provides custom-blended fuel options. As of December 31, 2021, Global Partners LP boasted a considerable infrastructure, including a portfolio of 1,595 gasoline stations that it either owned, leased, or supplied, with 295 of these being directly operated convenience stores. The company also owned, leased, or maintained 26 bulk terminals, collectively offering an impressive storage capacity of 11.9 million barrels. Established in 2005, Global Partners LP is headquartered in Waltham, Massachusetts, with Global GP LLC serving as its general partner.