Plains Buys $1.67 Billion BP Unit to Expand Canadian Liquids Position
Investing News Network - December 1st, 2011
Bloomberg reported that Plains All American Pipeline LP (NYSE:PAA) has decided to buy BP Plc’s (NYSE:BP) natural gas liquids business in Canada for $1.67 billion in cash.
Bloomberg reported that Plains All American Pipeline LP (NYSE:PAA) has decided to buy BP Plc’s (NYSE:BP) natural gas liquids business in Canada for $1.67 billion in cash.
As quoted in the market news:
The acquisition includes about 4,000 kilometers (2,500 miles) of pipelines, 21 million barrels of liquefied petroleum gas storage capacity and seven gas-processing plants, London- based BP said in a statement today.