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Earlier it valued Yara Formates at approximately NOK200m.
Most of Europe still maintains conventional acetate de-icers while those with strong environmental pressures choose to look at the new formate de-icers in more detail.
The Norwegian mineral fertilisers supplier Yara ASA said on Thursday (16 September) that it had sold the oilfield activities of its subsidiary Yara Formates (formerly Hydro Formates) to the US oil service group M-I Swaco's Norwegian affiliate Norbar Minerals AS.