According to Lorenzo Simonelli, the CEO of Baker Hughes, U.S. oil and gas companies are not expected to raise their spending this year. Instead of new drilling, any increases in production will mainly result from better efficiency.
BKR and Woodside Energy are growing their collaboration to create a small-scale, low-carbon energy solution by utilizing Net Power's platform. This initiative aims to lower emissions in the oil, gas, and heavy industries.
On March 6, 2025, Baker Hughes, an energy technology firm, and Woodside Energy, a major Australian energy company, revealed a partnership to create a low-carbon power generation technology. This initiative will use the Net Power platform, which is tailored for the oil and gas sector, heavy industries, and smaller applications.
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Baker Hughes, a U.S. oilfield technology company, announced on Monday that Ahmed Moghal has been named its chief financial officer, starting right away.
HOUSTON and LONDON, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Baker Hughes Company (NASDAQ: BKR) announced on Monday that Ahmed Moghal, who is currently the chief financial officer (CFO) of the Industrial & Energy Technology (IET) division, has been appointed as the new CFO of the Company, effective immediately. Before his role in IET, Moghal held several senior positions in different business and corporate areas. He takes over from Nancy Buese, who has stepped down as CFO by mutual agreement with the Company.
Baker Hughes has received a buy rating even though it is considered overvalued and is trading significantly above its moving average, due to several positive factors. The company is set to benefit from the growing demand for natural gas, LNG, and hydrogen renewables, and it has a diverse range of products worldwide. Additionally, with a low debt-to-equity ratio of 0.35, the risk from leverage is minimal, and its corporate debt has decreased in recent years.
This week, U.S. energy companies increased the number of oil and natural gas rigs for the fourth consecutive week, reaching the highest count since June, according to a report from the energy services company Baker Hughes released on Friday.
This week, U.S. energy companies increased the number of oil and natural gas rigs for the third consecutive week, marking the first time this has happened since December 2023, according to a report from the energy services company Baker Hughes released on Friday.
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