Oilfield services firm Baker Hughes announced on Monday that it has signed an agreement to sell its unit in Russia to local investors. The decision comes just months after new investment in the country was halted as a result of Russia’s invasion of Ukraine. The oil services provider did not provide details on the financial […]
Tag: Baker Hughes
Baker Hughes: Profits increased compared to the previous year
Baker Hughes reported higher quarterly earnings from a year earlier as rising commodity prices fueled drilling activity and demand for oil services. The rally in crude oil prices has boosted drilling activity, with the number of drillings in the US rising more than 56% year-on-year to 673 at the end of the first quarter, according […]
US oil drilling rig in operation increases for 4 consecutive weeks: Baker Hughes
The number of US oil and gas drilling rigs in operation for the week up to 9th, announced by energy service company Baker Hughes, has increased for the first time since June 2018 for the fourth straight week. Producers have resumed drilling after crude oil prices have been hovering around $ 40 a barrel for […]