STOCK TITAN

Global Partners LP Donates $2 Million To Provide Heating Oil for Families in Need Across the Northeast

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

BOSTON--(BUSINESS WIRE)-- As the Northeast faces unprecedented uncertainty and challenges in the energy market, Global Partners LP has donated $2 million to provide heating oil for those in need. The donation was directed to seven states in the Northeast and distributed to local nonprofit entities serving low-income households.

A heating oil technician delivers oil to a residential home. (Photo: Business Wire)

A heating oil technician delivers oil to a residential home. (Photo: Business Wire)

  • $1.3 million was evenly split between Massachusetts and New York.
  • An additional $700,000 was split between Connecticut, Maine, New Hampshire, Rhode Island and Vermont.
  • This $2 million donation will provide heating fuel to warm an estimated 4,000 households in the Northeast this winter.

“Global has an annual and long-standing program of making heating oil donations to local housing authorities and other nonprofit partners in more than 15 communities where Global has terminals. This year, recognizing additional need in the community, we expanded the program into a multimillion dollar support effort,” said Eric Slifka, President and CEO of Global Partners.

In the winter of 2020-2021, about 5.3 million U.S. households relied on heating oil; 82% of those were located in the Northeast. Supply is tight due to international conditions, including, but not limited to, the war in Ukraine. This has made the region more reliant on overseas imports, some of which come from Europe and which have shrunk due to a decrease in Russian gas supply and increase in European heating oil demand.

Response from Governors:

Governor Charlie Baker, Massachusetts
“As many Northeast residents experience significant increases in winter heating costs, we have worked with our partners at utilities and in the private sector to ensure customers are being well served. We appreciate Global Partners for doing their part to help support thousands of families across the New England and New York this winter.”

Governor Chris Sununu, New Hampshire
“I would like to thank Global Partners for making this donation in New Hampshire and across the Northeast at a critical time for home heating costs. These funds will complement the robust efforts we’ve made at the state level to expand eligibility for heating assistance and will benefit families across the state.”

Governor Phil Scott, Vermont
“Due to inflation, we know Vermonters are struggling with increased costs across the board, including home heating fuel, so it’s critical we all do our part to ease the burden. I appreciate Global Partners’ donation and commitment to supporting those in need.”

Global officials believe that, even with supply constraints, there is enough supply in the market to serve the historical Northeast demand throughout the winter. The company has reached out to officials to share recommendations on how government, utilities and the private sector can get through this period.

“This year, we are facing the highest energy prices we have perhaps ever faced, including prices for home heating oil,” said Joe Diamond, Executive Director, Massachusetts Association for Community Action. “This is a crisis that can only be met through a joint effort, a collaboration of government, nonprofits and the private sector. Global’s donation will be instrumental in allowing our dedicated fuel assistance teams to target and deploy public and private resources to meet the emergency needs of households across the state during what is turning out to be a very tough New England winter. We are grateful for Global’s leadership and generosity.”

Global Partners, founded in the heart of New England in 1933, began as one truck delivering home heating oil to ensure families stayed warm throughout the winter. Today, Global is one of the Northeast’s largest suppliers of liquid energy, powering businesses and getting people where they need to go.

About Global Partners LP

Global Partners delivers the energy, goods and services that make life better. With an extensive network of terminals, gas stations and convenience markets, Global helps people heat their homes, operate their businesses and get where they’re going conveniently and quickly. Centered in the Northeast, the company is a third-generation, family-founded business with operations throughout the U.S. Global is committed to strategic growth and to supporting the communities where it works. Learn more at www.globalp.com.

Catie Kerns, SVP of Corporate Affairs and Sustainability, ckerns@globalp.com, 541-519-8806

Source: Global Partners LP

Global Partners LP

NYSE:GLP

GLP Rankings

GLP Latest News

GLP Stock Data

1.62B
27.37M
18.05%
39.07%
2.69%
Pipeline Transportation of Crude Oil
Transportation and Warehousing
Link
United States of America
WALTHAM

About GLP

a publicly traded master limited partnership, global is a midstream logistics and marketing company that owns, controls, or has access to one of the largest terminal networks of petroleum products and renewable fuels in the northeast. global also is one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in new england and new york. the partnership is a leader in the transportation of crude oil and other products by rail across its “virtual pipeline” from the mid-continental u.s. and canada to the east and west coasts for distribution to refiners and others. with nearly 1,600 locations, primarily in the northeast, global also is one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores. global’s convenience stores are comprised of: alltown, mr. mike's, xtramart, on the run and fast freddie's. global is no. 180 in the fortune 500 list of america’s larges