Description:

PAA, or Phillips 66 Partners LP (NYSE: PAA), is a master limited partnership (MLP) that focuses on the transportation, storage, and marketing of crude oil, refined petroleum products, and natural gas liquids. The company operates a diversified network of midstream assets, which includes pipelines, terminals, and storage facilities across the United States. These assets play a critical role in the energy supply chain by connecting production sites to refineries, petrochemical plants, and export terminals. Phillips 66 Partners LP provides investors with exposure to stable cash flows through its fee-based business model, which is designed to mitigate commodity price risk.

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