Headquartered in Dallas, TX, Sunoco LP is a master limited partnership (MLP). The partnership’s prime business comprises the distribution of motor fuel to roughly 10,000 customers that include independent dealers, commercial customers, convenience stores as well as distributors. The customers are based in more than 30 states. Sunoco GP LLC, a general partner of the partnership, is owned by Energy Transfer Operating LP — an affiliate of Energy Transfer LP.
In general, after buying motor fuel from refiners, Sunoco sells the fuel to customers, which determines the partnership’s ...
~~Headquartered in Dallas, TX, Sunoco LP is a master limited partnership (MLP). The partnership’s prime business comprises the distribution of motor fuel to roughly 10,000 customers that include independent dealers, commercial customers, convenience stores as well as distributors. The customers are based in more than 30 states. Sunoco GP LLC, a general partner of the partnership, is owned by Energy Transfer Operating LP — an affiliate of Energy Transfer LP.
In general, after buying motor fuel from refiners, Sunoco sells the fuel to customers, which determines the partnership’s profit. Moreover, the partnership leases real estate that is used by motor retailers to distribute motor fuel, which generates rental income. Notably, a total of 75 retails stores are being operated by Sunoco in New Jersey and Hawaii.
Through 2023, the partnership sold a total of 8.3 billion gallons of motor fuel. Sunoco divides operations into Fuel Distribution & Marketing and All Other segments.
Fuel Distribution & Marketing: This segment provided 96.3% of the partnership’s total revenue in 2023. It is responsible for purchasing motor fuel from several independent refiners and major oil companies, which it supplies to the clients. The customers of this unit include dealer stations, distributors as well as other consumers of motor fuel. It also sends fuels to different partnership operated stations and commission agent locations.
All Other: This segment provided 3.7% of the partnership’s total revenue in 2023. Through the unit, the partnership operates retail stores, which offer motor fuel, foodservice, merchandise and various other services. Moreover, this segment includes services provided like car washes, lottery, automated teller machines, prepaid phone cards, wireless services and money orders. It also leases and rents real estate properties.