Financial Highlights Orders of $6.0 billion for the quarter, up 15% sequentially and up 9% year-over-year on a combined business basis Revenue of $5.5 billion for the quarter, up 3% sequentially and up 2% year-over-year on a combined business basis GAAP operating income of $78 million for the quarter, increased $119 million sequentially and increased $223 million year-over-year on a
Repurposed research center becomes Energy Innovation Center of North America – an incubator tasked with launching disruptive tech startups, and providing access to venture capital to quickly monetize new technologies Taking a page from Silicon Valley, Baker Hughes, a GE company (ticker: BHGE) has launched a tech incubator in Oklahoma. But this one is focused on oilfield and related technologies
Cheniere Energy Inc. (NYSE: LNG) announced today that it has reached a positive FID and plans to continue the construction of its third liquefaction train for its LNG facility in Corpus Christi, Texas. Baker Hughes, a GE company (NYSE: BHGE), will be supplying the turbomachinery equipment for this expansion. This FID represents the first for new LNG capacity in the
Global venture capital firm New Enterprise Associates, Inc. (NEA) has a new venture partner. Jeff Immelt who retired from his role as chairman and CEO of GE after 16 years will work with technology and healthcare companies at NEA. Immelt joined GE in 1982, serving as President of GE Healthcare before assuming the role of GE CEO in 2001. Immelt earned
GE cuts follow Siemens’ 2% cut of global workforce in power and gas business slash: blames rapid growth of renewables for drop in demand for traditional power plants From Economic Times General Electric Co announced on Thursday it was axing 12,000 jobs at its global power business as the struggling industrial conglomerate responds to dwindling demand for fossil fuel power plants. The U.S.
The history of GE dates back to Thomas A. Edison. In 1876 Edison opened his Menlo Park, NJ, laboratory, from which came perhaps the greatest invention of the age – a successful incandescent electric lamp. In 1890, Edison established the Edison General Electric Company by bringing his various businesses together. Two years later Edison’s company combined with a competitor. They called
Flannery takes over as GE’s chairman GE surprised a few people yesterday announcing that Jeff Immelt had stepped down Oct. 2 as the company’s chairman, a move that was originally scheduled for Dec. 31, 2017. John Flannery, who was formerly CEO of GE Healthcare became CEO of GE on Aug. 1, but his move into the chairman’s role was expected
BHI, GE, Shell, Halliburton make, wrap deals Baker Hughes-GE complete $32 billion mega-deal; combined business began trading today under new symbol: BHGE Baker Hughes, a GE company (ticker: BHGE) completed its combination of GE Oil & Gas with Baker Hughes Inc. The combined company becomes the world’s second largest oilfield services company, fitting between Schlumberger at the top of the
Baker Hughes Incorporated (ticker: BHI) and General Electric Company (ticker: GE) announced today that the two companies reached an agreement with the United States Department of Justice allowing both parties to complete their merger. In order to allow the merger to proceed, General Electric agreed to divest its GE Water & Process Technologies business, GE Water, which is focused in
Baker Hughes Incorporated (ticker: BHI) and General Electric Company (ticker: GE) announced the executive team that will lead Baker Hughes, a GE Company, upon closing of their proposed transaction to combine GE’s Oil & Gas business with Baker Hughes. The combined executive team will be as follows: Lorenzo Simonelli, President & CEO • Maria Claudia Borras, President & CEO, Oilfield
One step closer to final After an investigation of possible competition concerns, the European Commission has cleared unconditionally the acquisition of Baker Hughes Incorporated (ticker: BHI) by General Electric Company (ticker: GE), the Commission announced today. The Commission concluded that the transaction would not adversely affect competition in the relevant markets. On a number of specific markets the two companies sell competing
Total + Tellurian to develop integrated gas project together Total (ticker: TOT) is acquiring approximately 23% of Tellurian Investments, an early stage U.S. LNG export project that was founded by former Cheniere Energy (ticker: LNG) CEO Charif Souki and former BG COO Martin Houston. The transaction is at $5.85 per share for an amount of $207 million. Driftwood LNG is Tellurian’s planned LNG
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
