Baker Hughes trimmed its losses in the second quarter as drilling activity continued to rebound from the pandemic-driven oil bust.
Baker Hughes has closed out its “incredibly challenging” 2020 financial year with pre-tax losses of $15.2billion (£11bn).
Baker Hughes has shed thousands of jobs in response to the downturn, cutting headcount by 15% so far this year.
Baker Hughes has said it remains “intensely focussed" on improving its "margin and return profile" as it stayed deep in the red in the third quarter.
Houston oilfield service giant Baker Hughes is poised to become an independent company again.
Baker Hughes, a GE company (BHGE) has posted pre-tax profits of £106million off the back of stabilising oil markets and international project wins.
Lorenzo Simonelli, chairman, president and CEO, of BHGE shared his thoughts on the company’s first six operational months since the merger of GE and Baker Hughes, saying the firm “can, and will, deliver”.
When your mentor is business veteran and heavyweight Jeff Immelt, one can expect glittering gems of wisdom carved out of a hard-fought, hard-won career.
The industry cannot afford to wait to be “disruptive” any longer, said GE Oil & Gas president Lorenzo Simonelli.
Energy Voice spoke with GE's Oil and Gas president Lorenzo Simonelli about how business and the industry is coping. Hundreds of people will be attending the conference today, including BP's Bob Dudley, who will be hosting fireside chat. Check back tomorrow for more.