New partnership aims to drive efficiency in oil and gas

The University of Strathclyde will help Baker Hughes, a GE Company, cut costs and cycle time, while extending the lifespan of oilfield equipment

GE’s purchase of Baker Hughes gets EU sign off

The European Commission has cleared the buyout of an oilfield services company by General Electric (GE) without conditions. Its investigation found the GE-Baker Hughes merger would not adversely affect competition in the relevant markets. Both companies are active in oilfield services as well as oil and gas exploration and production in the European Economic Area […]

GE merges oil and gas division with Baker Hughes

US manufacturing giant General Electric has agreed to merge its oil and gas division with an oilfield services firm. The deal signed with Baker Hughes seeks to create a new “world-leading” oilfield services company. Under the terms of the deal, GE will contribute $7.4 billion (£6.06bn) to fund the $17.50 (£14.35) per share special dividend to existing Baker […]

EU investigates oilfield service firms merger

An in-depth investigation into the proposed takeover of an oilfield service supplier by its rival has been launched. The European Commission said it will assess whether the purchase of Baker Hughes by Halliburton would impede effective competition. Both the US firms supply a broad range of tools and services for drilling and evaluation as well […]

Norway oil workers strike

Norwegian oil rig workers went on strike at the weekend over pay issues after mediation talks failed, according to the Norwegian Oil Industry Association (OLF). Håvard Hauan, a lawyer for the trade body said more than 100 workers at 12 rigs on the Norwegian Continental Shelf were involved in the industrial action on Sunday morning. […]