Plains All American Pipeline, L.P. is a publicly traded master limited partnership (“MLP”) engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products (together "LPG"). Through our general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), we are also engaged in the development and operation of natural gas storage facilities. Our operations can be categorized into three primary business activities: Transportation, Facilities and Supply and Logistics.
We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3 million barrels per day of crude oil, refined products and LPG through our extensive network of assets located in key North American producing basins and transportation gateways.
As an MLP, we make quarterly distributions of our available cash to our Unitholders. Since our initial public offering in 1998, we have increased our quarterly distribution by 137% to its current level (with August 2012 distribution) of $1.065 per unit, or $4.26 per unit on an annualized basis. It is our goal to increase our distribution to Unitholders over time through a combination of internal and acquisition-oriented growth.
Our common units are traded on the New York Stock Exchange under the symbol "PAA." We are headquartered in Houston, Texas. Plains All American is current ranked #87 on the Fortune 500 List and in 2011 was named by the Houston Chronicle as the #2 ranked large employer to work for in Houston.
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