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Plains All American Pipeline announces plans to cut $1.4 billion in debt, sell assets, and reduce payments to its general partner in an effort to improve its business performance. The company's supply and logistics business has been affected by lower crude oil prices and increased competition. Executives of the Houston-based company intend to reduce payments to its general partner, Plains GP Holdings LP, starting in November, as part of the turnaround strategy.
Thursday, 24 August, 2017