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Baker Hughes CEO says wars in Ukraine and Middle East threaten instability similar to 1973 oil embargo
Combined net income of Halliburton, Baker Hughes and SLB in 2022 was the highest since 2014
The oilfield services group reported a drop in revenue and booked a $365mn charge from its operations in Russia
Despite more business, rising overheads, supply chain issues and losses related to Russia have choked off earnings
Schlumberger, Halliburton and Baker Hughes are partners of state-backed Rosneft and Gazprom
Bellwethers for global oil industry say activity is picking up but caution recovery still fragile
US conglomerate’s aviation and power units suffer during pandemic
US oilfield services group targets further cost-cutting to shore up defences against pandemic crisis
Deal will lower holding in oilfield services group from 62.5% to just over 50%
Chief executive wants smaller, leaner centre while giving more power to divisional heads
Divestments of healthcare and Baker Hughes units would shed a third of revenues
Move by rating agency follows GE plans to separate healthcare unit
Liquefied natural gas is growing in popularity as a heavy-duty transport fuel
Under pressure from renewables, energy groups are again looking to tech for answers
Jump in expenses outpaces rise in revenues
Industry’s focus on land grabs makes way for spending within cash flows
Combination creates second-biggest oilfield services group by revenues
Companies enjoy rebound in US shale but elsewhere lucrative business is drying up
International Edition