Aker Carbon and utilities gain as U.S. commits $3.7 bln for carbon removal

Aker Carbon Capture ASA

14/12/2022 16:56

** U.S.-listed shares  AKCCF.PK  of Norway-based Aker Carbon
Capture ASA up 3.5% at $1.19
    ** The U.S. Department of Energy (DOE) agrees to commit $3.7
bln to finance projects to remove planet-warming carbon from the
atmosphere
    ** The energy department aims to meet the nation's goal of
net-zero greenhouse gas emissions by 2050
    ** Direct air-capture projects receive a per-tonne credit of
$180 vs $50 previously
    ** Occidental Petroleum Corp  OXY.N  has proposed a $1.1-bln
large-scale direct air-capture project in West Texas
    ** Shares of utilities are also up as the DOE outlined
programs to bolster research on carbon removal technology and
fund grants to utilities for carbon utilization
    ** Utilities such as Dominion energy Inc  D.N , Nextera
Energy  NEE.N , PG&E Corp  PCG.N  and Southwest Gas Holdings Inc
 SWX.N  gain between 1.2% and 2.5%
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))