Aker Solutions scores major subsea deal in Brazil
Norwegian engineering firm Aker Solutions said on June 9 it had won a major framework deal to provide subsea lifecycle services for oil and gas fields operated by Petrobras offshore Brazil.
The deal, effective from June 1, has a three-year fixed period and a two-year extension option. It covers a full range of services including inspection, maintenance, repairs, upgrades and spares supply as well as installation and commissioning. Aker Solutions will provide their services from their base in Rio das Ostras in Rio de Janeiro.
Aker Solutions has been working in the Brazilian market for over four decades. Over the last 25 years it has installed almost 240 subsea trees at Petrobras deepwater and pre-salt fields.
Plains sells gas storage facilities along US Gulf Coast
Jun 9, 2021 2:24:pm
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by: Daniel Graeber
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Plains sells gas storage facilities along US Gulf Coast
US midstream company Plains All American has reached an agreement to sell natural gas storage facilities on the US Gulf Coast to Hartree Partners for $850mn, it said June 8.
Plains CEO Willi Chiang said the sale contributes to its divestment and debt reduction goals, while boosting free cash flow.
“This is a win-win transaction for both parties,” he said. “Plains is exiting at an attractive valuation within a timeframe consistent with our expectations, while Hartree is receiving high-quality critical infrastructure in a strategic market.”
Bipartisan US bill proposes tax credits for carbon storage
May 27, 2021 1:25:pm
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by: Daniel Graeber
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Bipartisan US bill proposes tax credits for carbon storage
A bipartisan measure drafted by US legislators fills the gap in tax legislation for credits on carbon capture, representatives said May 25.
“This is a pivotal time in this country to address the existential climate crisis, and we must take an active role in meeting the moment,” Tim Ryan, a Democratic member of the House of Representatives for Ohio, said. “That means leveraging the might of the US government and the ingenuity and strength of American businesses to meaningfully lower US emissions.”