Global Partners Raises Maintenance Spending Forecast

The partnership lifted its 2026 maintenance capital spending forecast and extended its credit agreement to 2031.

Updated on Nov. 8, 2026 in Oil and Gas

Global Partners Raises Maintenance Spending Forecast

Global Partners LP raised its 2026 maintenance capital spending forecast to $65 million-$75 million, up $5 million at both ends from the prior $60 million-$70 million range. The partnership also extended its credit agreement maturity from March 20, 2028, to October 16, 2031.

Why it matters

Maintenance spending keeps existing terminals, tanks, pipelines and equipment operating and extends their useful lives across the company's 54 liquid energy terminals. The higher forecast reflects increased upkeep needs, while the credit extension gives the partnership longer financing runway for its operations.

Maintenance capital spending totaled $45.1 million in the first nine months of 2026, up from $31.4 million a year earlier, and the revised full-year forecast is $65 million-$75 million. The final figure remains uncertain because spending depends on project timing, equipment and workforce availability, weather and unforeseen events.

The players

Global Partners LP

Global Partners LP is a publicly traded energy distribution partnership that operates gasoline stations and liquid energy terminals across the United States.

The details

Global Partners said it expects to fund the maintenance spending with cash generated from operations. The partnership also signed a credit agreement amendment on October 16 that retains a $1 billion aggregate working capital commitment and a $500 million aggregate revolver commitment.

- First nine months of 2025: maintenance capital spending of $31.4 million recorded as comparison baseline.
- July 2026: Series B preferred units redemption completed.
- October 16, 2026: credit agreement amended, extending maturity to October 16, 2031.
- March 20, 2028: original credit agreement maturity date, since extended.

Market Landscape

Maintenance spending on terminal and storage assets is a recurring budget line for midstream and downstream operators, and Global Partners' rising forecast follows that pattern of upkeep costs growing as assets age. The company's expansion spending of $75 million-$85 million, excluding acquisitions, shows it is investing in growth alongside the higher maintenance outlay.

Higher terminal maintenance spending can affect the fuel supply chain that moves gasoline to stations, though the filing does not describe any direct change to retail fuel prices or availability. Customers and investors should watch the partnership's quarterly reports for how the revised $65 million-$75 million forecast tracks in actual spending.

The takeaway

Maintenance spending is a steady cost for any company running physical storage and distribution assets, and tracking how these forecasts change quarter to quarter shows how well a company is controlling upkeep. Watching whether actual spending lands within the revised range will indicate how accurately the partnership is planning.