Global Partners LP () is an American energy supply company ranked 361 in the 2018
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
. The company is organized as a
master limited partnership
In the United States, a master limited partnership (MLP) or publicly traded partnership (PTP) is a publicly traded entity taxed as a partnership. It combines the tax benefits of a partnership with the liquidity of publicly traded securities.
To ...
, and its operations focus on the importing of
petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
products and marketing them in North America. It wholesales products like
crude oil
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...
,
diesel oil
Diesel fuel , also called diesel oil, is any liquid fuel specifically designed for use in a diesel engine, a type of internal combustion engine in which fuel ignition takes place without a spark as a result of compression of the inlet air an ...
,
gasoline
Gasoline (; ) or petrol (; ) (see ) is a transparent, petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines (also known as petrol engines). It consists mostly of organic c ...
,
heating oil
Heating oil is any petroleum product or other oil used for heating; a fuel oil. Most commonly, it refers to low viscosity grades of fuel oil used for furnaces or boilers use for home heating and in other buildings. Home heating oil is often ...
and
kerosene
Kerosene, paraffin, or lamp oil is a combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in aviation as well as households. Its name derives from el, κηρός (''keros'') meaning " wax", and was re ...
.
Its CEO is Eric Slifka and it is based in
Waltham, Massachusetts
Waltham ( ) is a city in Middlesex County, Massachusetts, United States, and was an early center for the labor movement as well as a major contributor to the American Industrial Revolution. The original home of the Boston Manufacturing Company, ...
. The company was founded in 1933.
In March 2012, Global Partners acquired Alliance Energy, another company owned by the Slifka family that operated gas stations in the Northeast. In October 2012, Global Partners announced that it was buying a majority stake in two trans-loading facilities in
North Dakota
North Dakota () is a U.S. state in the Upper Midwest, named after the indigenous Dakota Sioux. North Dakota is bordered by the Canadian provinces of Saskatchewan and Manitoba to the north and by the U.S. states of Minnesota to the east, ...
for a fee of around $80 million, expanding its presence in the Bakken region. It expanded in 2014 by acquiring the parent of Xtra Mart convenience stores.
Global Partners Closes Warren Equities Deal
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History
Global was founded in 1933 as a single truck heating oil distributor. Since then, it has grown through the acquisitions of gasoline stations, convenience stores, pipelines, and storage terminals.
References
Further reading
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External links
Official website
Companies listed on the New York Stock Exchange
Energy companies established in 1933
Companies based in Waltham, Massachusetts
Oil companies of the United States
Natural gas companies of the United States
1933 establishments in Massachusetts
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