Plains All American Pipeline, L.P. Overview
Pro stress-test →Plains All American Pipeline, L.P. is a master limited partnership engaged in pipeline transport, marketing, and storage of liquefied petroleum gas and petroleum in the United States and Canada. PAA handles approximately eight million barrels per day of crude oil and NGL. As one of North America's largest midstream energy infrastructure companies, PAA provides critical logistics connecting producers to consumers.
Strategic Profile
Pro stress-test →Plains owns interests in 18,370 miles of pipelines, storage capacity for about 75 million barrels of crude oil, 28 million barrels of NGLs, 68 billion cubic feet of natural gas, and 5 natural gas processing plants. In June 2025, Plains announced a $3.75 billion transaction to sell substantially all of its NGL business to Keyera, expected to close in Q1 2026, positioning the company as a premier crude oil midstream pure play.
Competitive Landscape
Pro stress-test →Plains competes with major midstream operators including Enterprise Products Partners (EPD), ONEOK (OKE), Kinder Morgan (KMI), The Williams Companies (WMB), and Enbridge (ENB). PAA's differentiation centers on its integrated crude oil network and scale, particularly following the strategic NGL divestiture.
Industry Context
Plains All American Pipeline, L.P. operates in Midstream Energy Infrastructure & Pipeline Transportation.
Key facts
Founded: 1981 · Headquarters: Houston, Texas, US