Oil market headwinds have prompted Plains All American to make select updates to its current capital program and operations activity. The changes include: Reducing its 2020/2021 capital program by $750 million, or 33% Decreasing its share distributions payable in May by 50% (a reduction of $525 million) Completing an additional $165 million asset sale “We are taking a number of actions in response to the current dynamic and uncertain market conditions to further strengthen our balance sheet and further enhance our liquidity and long-term financial flexibility,” Willie Chiang, Chairman and CEO, said in a written statement. “These actions include significantly reducing and continuing to challenge our capital program, reducing our distribution, progressing asset sales, and reducing costs, while remaining focused on operating safely and responsibly.” “Importantly, we ended the first quarter with approximately $2.5 billion of committed liquidity and no near-term needs to access either the debt or equity […]