Wednesday, April 10, 5:35 PM
Barclays sees the growth in crude oil rail transport as a “slight positive” for MLPs, as it provides terminal investment opportunities and potential synergies partially offset by increasing competition. The financial impact of rail on MLPs is still relatively modest, the firm says, as pipelines remain the dominant mode of U.S. crude transportation due to cost and safety advantages relative to rail, barge and truck.
Tuesday, March 26, 8:42 AM
Global Partners (GLP) signs a pipeline connection agreement in which Tesoro Logistics (TLLP) will build, own and operate a new seven-mile pipeline lateral from its Lignite, N. Dak., crude oil station to GLP's Basin Transload storage facility in Columbus, N. Dak. The deal will enhance the movement of crude from the mid-continent to GLP's east coast destination assets.
Tuesday, January 8, 11:08 AM
Phillips 66 (PSX -0.1%) and Global Partners (GLP +6%) strike a five-year deal to use the rail network of Canadian Pacific Railway (CP) to transport oil from the Bakken shale field in North Dakota to PSX's Bayway refinery in New Jersey. GLP will use its rail transloading, logistics and transportation system to transport ~91M barrels, or 50K bbl/day, of crude oil during the period.
1 Comment[Energy, On the Move]
Monday, November 19, 2012, 8:28 AM
Global Partners (GLP) signs long-term lease agreement with Getty Realty (GTY) that enables the partnership to supply gasoline to and operate through a dealer network of ~90 of Getty's gas station sites in Queens, Manhattan and the Bronx as well as in Long Island and Westchester county.
Thursday, November 8, 2012, 9:39 AMGlobal Partners LP (GLP) declares $0.5325/share quarterly dividend, 6.5% increase from prior dividend of $0.5. For shareholders of record Nov. 5. Payable Nov. 14. Ex-div Nov. 1. (PR)
Thursday, November 8, 2012, 8:09 AMGlobal Partners (GLP): Q3 EPS of $0.24 misses by $0.15. Revenue of $4.62B (+21% Y/Y) beats by $900M. (PR)
Wednesday, August 8, 2012, 8:14 AMGlobal Partners (GLP): Q2 EPS of $0.66 beats by $0.34. Revenue of $3.92B (+14.8% Y/Y) beats by $300M. (PR)
8 Comments[Earnings, Energy]
Tuesday, May 15, 2012, 6:20 PM
Energy Transfer Partners (ETP) could fetch up to $1.8B for the 4,900 gasoline stations it acquired when it agreed to buy Sunoco (SUN) last month in a $5.3B deal, Raymond James analysts say. Possible buyers include Marathon Petroleum (MPC), Alimentation Couche-Tard (ANCUF.PK) and retail operator Global Partners (GLP).
1 Comment[Energy, M&A]
Tuesday, May 8, 2012, 8:41 AMGlobal Partners (GLP): Q1 EPS of -$0.06 may not be comparable to consensus of $0.24. Revenue of $3.98B (+11.9% Y/Y) beats by $220M. (PR)