Global Partners vs Kimbell Royalty Partners

This page compares the business models, financial performance, and market context of Global Partners LP and Kimbell Royalty Partners LP in a neutral, accessible way to help readers understand how each company operates and positions itself within the market. Educational content, not financial advice.

This page compares the business models, financial performance, and market context of Global Partners LP and Kimbell Royalty Partners LP in a neutral, accessible way to help readers understand how each...

Investment Analysis

Global Partners

GLP

Pros

Global Partners LP has a diversified business model with wholesale, gasoline distribution, and commercial segments providing multiple revenue streams.
The company achieved revenue growth of over 4% in 2024, reaching $17.16 billion, indicating operational scale and market presence.
Offers a high dividend yield of approximately 6.68%, which can be attractive for income-focused investors.

Considerations

Reported a significant earnings miss in Q3 2025 with EPS well below analyst expectations, causing negative stock reaction.
Net income decreased by over 35% year-over-year in 2024, reflecting pressure on profitability despite revenue gains.
The gasoline distribution segment faced operational headwinds, impacting overall segment performance and earnings.

Kimbell Royalty Partners

KRP

Pros

Kimbell Royalty Partners owns mineral and royalty interests in over 17 million gross acres with more than 131,000 wells, offering extensive asset diversification.
Receives royalty income without bearing operating costs or capital expenditures, reducing operational risk.
Provides a high yield of over 10%, supported by consistent cash distributions from mineral royalties.

Considerations

Exposure to commodity price fluctuations and U.S. oil and gas development activity introduces revenue variability.
Dependence on operators’ development decisions and technological progress to sustain mineral and royalty income growth.
Limited growth visibility as mineral and royalty interests are passive investments reliant on external production activity.

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Published: August 14, 2025

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Which Baskets Do They Appear In?

Venezuelan Oil's Return to U.S. Refiners

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Chevron has resumed shipping crude oil from Venezuela to the U.S., marking a significant policy shift and restoring a key supply chain. This creates a potential investment opportunity in U.S. refiners and energy logistics companies that are set to benefit from the influx of desirable heavy crude.

Published: August 17, 2025

Australia's Fuel Retail Shake-Up

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Ampol's acquisition of EG Group's Australian sites marks a major consolidation in the nation's fuel retail sector. This move intensifies competition, creating potential opportunities for other retailers and suppliers who may benefit from the shifting market dynamics.

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OPEC+ is expected to maintain its policy of gradually increasing oil production, aiming to stabilize global energy markets. This could lead to moderated fuel costs, creating a potential advantage for companies in sectors like transportation and manufacturing where fuel is a major expense.

Published: July 25, 2025

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Frequently asked questions

About The Companies

Global Partners (GLP)

Global Partners LP (GLP) is a US-based downstream energy company that distributes and markets petroleum products, operates fuel terminals, provides logistics and has refining interests. Revenue comes from product margins, wholesale distribution and fee-based services across the eastern United States and parts of Canada. As a master limited partnership, GLP has historically offered distributions to unitholders, but payouts depend on cash flow and can vary with refining margins, commodity prices, freight costs and seasonal demand. The business is sensitive to regulatory and environmental developments, interest-rate movements and commodity volatility. With a market capitalisation of about $1.54 billion, GLP may attract investors seeking income exposure to the fuel supply chain, but investors should be aware of operational and market risks. This information is for general education only and not personalised financial advice — consider your objectives and suitability and consult a professional before investing.

Kimbell Royalty Partners (KRP)

Kimbell Royalty Partners LP (KRP) is a US-listed limited partnership that acquires and manages oil and gas royalty and overriding royalty interests. With a market capitalisation of about $1.40bn, KRP’s revenues come primarily from royalties rather than direct production, which can mean lower operating costs and capital intensity compared with producers. Cash flows are driven by commodity prices, production volumes and well performance across its acreage positions; management aims to grow long-lived royalty assets through acquisitions. Investors may find exposure to energy prices and potential distribution income appealing, but returns can be volatile. Key risks include declines in oil and gas prices, production setbacks, regulatory or environmental changes, and concentration in particular basins. As an LP, KRP typically issues partnership K‑1s, which has tax implications. This summary is general educational information, not personal advice — consider your objectives, risk tolerance and seek independent financial and tax advice before investing.