fetching latest news

News tagged in:  

Baker Hughes NEWS

Baker Hughes reports 49.2% jump in 4Q profits
Jan. 23, 2020
Source: Reuters

Baker Hughes reports 49.2% jump in 4Q profits

Oilfield services major, Baker Hughes Co's adjusted profits ramped up by 49.2% in the fourth-quarter on Wednesday, buoyed up by higher orders in its oilfield services unit. The Texas-based giant saw an adjusted net income climbing to $179 million in the three months ended Dec.31, from $120 million for the same quarter last year. Total revenue rose from $6.26 billion to $6.35 billion.

Digital collaboration underway as Baker Hughes, C3.ai and Microsoft join hands
Nov. 20, 2019

Digital collaboration underway as Baker Hughes, C3.ai and Microsoft join hands

In a major step towards the deployment of Artificial Intelligence in the energy industry, Baker Hughes, C3.ai and Microsoft have come together to deliver enterprise AI solutions to the energy industry. The alliance will allow clients to leverage the energy technology expertise of Baker Hughes, C3.ai’s proven AI platform and applications, and the Microsoft Azure cloud computing platform. The solutions are custom-designed to tackle challenges across the entire value chain.

Baker Hughes concludes demerger with GE
Sept. 17, 2019
Source: World Oil

Baker Hughes concludes demerger with GE

Fullstream company, Baker Hughes has concluded its demerger with GE, closing a secondary offering of 132.25 million shares of BHGE Class A common stock. With Baker completing the share repurchase, GE and its affiliates lost ownership of more than 50% of the voting power of all classes of BHGE’s voting stock. BHGE aims to revise its corporate name to Baker Hughes Company, known as Baker Hughes.

BHGE to deploy VitalyX for Topaz
May 9, 2019

BHGE to deploy VitalyX for Topaz

Offshore marine logistics giant, Topaz has entered into a long-term agreement with Baker Hughes for its proprietary lubricant condition monitoring system, VitalyX. The two firms will collaborate on boosting the maintenance and upkeep of Topaz’s fleet of vessels and increase the field time for each vessel. VitalyX exploits the Internet of Things (IoT) by integrating cutting-edge sensor hardware with condition monitoring software.

Qatar Petroleum signs a deal worth $2.47 billion
Feb. 19, 2019

Qatar Petroleum signs a deal worth $2.47 billion

Qatar Petroleum is planning to reduce its dependency on imports and increase its domestic production. In order to fuel up its local energy industry, the firm has signed a preliminary deal with Schlumberger and Baker Hughes worth $2.47 billion on Monday. The initial agreement will involve investment in production facilities, training and development. Qatar is strategizing to boost its LNG production by 43% by 2023-24.

Oil prices drop over growing rig count
Jan. 28, 2019
Source: Reuters

Oil prices drop over growing rig count

Oil prices dropped in the international market on Monday after reports of a rising count of drilling rigs in the US amidst the economic slowdown in China. Benchmark Brent crude oil futures traded down 0.2%, at $61.50 a barrel. US WTI crude oil futures dropped 0.5%, to $53.43 per barrel. Baker Hughes report on Friday showed rig count rising to 862, indicating that US crude production may rise further.

Rig count affected by crude prices
Aug. 25, 2018

Rig count affected by crude prices

The falling crude prices have affected the U.S. energy companies following which nine oil drilling rigs have been cut this week. Baker Hughes informed in its report that after this reduction, which is the biggest since May 2016, the rig count has decreased to 860. According to Cowen & Co., US financial services firm, an increase of 18% is predicted in planned capital spending this year by E&Ps they have tracked.

Baker Hughes makes a $375 million deal
July 19, 2018
Source: Chron

Baker Hughes makes a $375 million deal

Baker Hughes announced the sell-out of its natural gas solutions business to a private equity firm and an Italian company, in a deal worth $375 million. The Connecticut-based private equity firm, First Reserve will procure the global manufacturing business and around 450 employees. On the other hand, BHGE’s manufacturing plant in Italy will be acquired by the Italian firm, Pietro Fiorentini.

GE to farm out Baker Hughes within 3 years
June 28, 2018

GE to farm out Baker Hughes within 3 years

Boston-based General Electric (GE), on Tuesday, revealed plans of farming out all of its 62.5% stakes in Bake Hughes (BH) over the next three years. The management at GE believes that the separation would provide BHGE with enhanced agility and the ability to focus on leading in the oil and gas industry. Apart from BHGE, GE healthcare would become a standalone company.

Please Login to Save News for Later