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Fly News Breaks for December 12, 2017
SLB, GLNG
Dec 12, 2017 | 07:33 EDT
Cowen analyst Sam Margolin named Golar LNG (GLNG) a best idea for 2018, noting this is the second year in a row that the stock has been selected for Cowen's Best Ideas series. He believes the position on the global LNG cost curve of OneLNG, the company's joint venture with Schlumberger (SLB), may be "underappreciated" and that the JV can deliver new FLNG projects in 2018. The start up of the Hilli, its first FLNG unit, and expected contracting of the remaining 50% of its capacity could start a stream of catalysts, said Margolin, who raised his price target on Golar LNG to $44 from $41 and keeps an Outperform rating on the stock.
News For GLNG;SLB From the Last 2 Days
SLB
Mar 27, 2024 | 19:34 EDT
SLB "announced an agreement to combine its carbon capture business with Aker Carbon Capture to support accelerated industrial decarbonization at scale. Bringing together complementary technology portfolios, leading process design expertise and an established project delivery platform, the combination will leverage ACC's commercial carbon capture product offering and SLB's new technology developments and industrialization capability. It will create a vehicle for accelerating the introduction of disruptive early-stage technology into the global market on a commercial, proven platform. Following the transaction, SLB will own 80% of the combined business and ACC will own 20%. The International Energy Agency (IEA) sees carbon capture, utilization, and sequestration playing a critical role in the net-zero transition-estimating that over one gigaton of CO2 per year will need to be captured by 2030, scaling up to over six gigatons by 2050. SLB will pay NOK 4.12 billion to purchase 80% of Aker Carbon Capture Holding AS, which holds the business of ACC, and will contribute the SLB carbon capture business to the combined entity. SLB may also make additional payments of up to NOK 1.36 billion over the next three years based on the performance of the business. The transaction is subject to regulatory approvals and is expected to close by the end of the second quarter, 2024."