Global Partners LP completes acquisition of four liquid energy terminals from Gulf Oil Limited Partnership to expand its market presence in the Northeast
Acquiring Company
Global Partners
Acquired Company
Gulf Oil Company
WalthamEnergyOil And GasRenewable EnergyOil And GasDescription
Global Partners LP (NYSE: GLP) has successfully acquired four liquid energy terminals from Gulf Oil Limited Partnership. These strategically located terminals in Chelsea, MA, New Haven, CT, Linden, NJ, and Woodbury, NJ, with a combined shell capacity of approximately 3.0 million barrels, will enhance Global’s position in the energy economy of the Northeast. This acquisition aligns with Global’s strategy to leverage scale from its integrated network in high-demand markets, further delivering on their commitment to strategic growth.
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Frequently asked
Who acquired Gulf Oil Company?
Gulf Oil Company was acquired by Global Partners, based in Waltham. The deal was reported on April 9, 2024. The East Providence terminal is a strategic storage facility for various energy products, boasting 10 product tanks with a 959,730-barrel shell capacity. Global Partners is publicly traded (GLP) and operates in Energy.
When did Global Partners acquire Gulf Oil Company?
Global Partners's acquisition of Gulf Oil Company was reported on April 9, 2024. Global Partners LP (NYSE: GLP) has successfully acquired four liquid energy terminals from Gulf Oil Limited Partnership. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Gulf Oil Company do?
Gulf Oil Company operates in the oil industry and is known for its involvement in oil production and related activities in Kuwait. It is a subsidiary impacted by the restructuring efforts of the Kuwait Petroleum Corporation. It is privately held, operating in Oil And Gas.
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