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. It owns interests in 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. The company is headquartered in the Allen Center in Downtown Houston, Texas. History The company began in 1981 as a small oil and gas exploration and production company called Plains Resources. The company became a public company via an initial public offering in 1998. Major acquisitions include: 1998 - All American Pipeline System 1999 - Scurlock Oil Company Permian and west Texas pipeline from Chevron Corporation for $35 million 2001 - Midstream operations of Murphy Oil for $155 million 2001 - CANPET Energy Group, a liquified gas marketing company based in Canada, for $42 million 2004 - Capline Pipeline System 2004 - Link Energy pipeline system for $273 million 2005 - Assets in Louisiana from Shell Oil Company for $12 million 2006 - Pacific Energy Partners for $2.4 billion 2008 - Rainbow oil pipeline in Northern Alberta 2012 - Canadian NGL business from BP 2017 - Alpha Crude Connector gathering system and pipeline in the Permian Basin for $1.2 billion. Financial performance and credit ratings The company's net income for the year 2021 was $593 million, as compared to a net loss of $2.59 billion for 2020 and net income of $2.21 billion in 2019. As of April 2022, the company's senior unsecured debt was rated Baa3 by Moody's Investors Service, and BBB- by Fitch Ratings and S&P Global Ratings. All three ratings are generally considered "investment grade." Carbon footprint Plains All American Pipeline reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 1,929 Kt (-290 /-13.1% y-o-y). Environmental controversies 2010 settlement In 2010, the company agreed to pay a $3.25 million civil penalty for violating the Clean Water Act and to spend $41 million to upgrade more than 10,000 miles of crude oil pipelines after the United States Environmental Protection Agency pressed charges regarding 10 pipeline spills in Texas, Louisiana, Oklahoma, and Kansas between June 2004 and September 2007 that spilled over 273,000 gallons of crude oil, some of which ended up in rivers, lakes, and oceans. Little Buffalo