Baker Hughes to Provide Downstream Chemicals for Marathon Petroleum Refineries, Becoming Preferred Provider Across North America

Baker Hughes (NASDAQ: BKR) signed a multiyear preferred provider agreement with Marathon Petroleum to supply downstream chemical technologies and digital monitoring across the United States.

Rhea-AI Summary

Baker Hughes (NASDAQ: BKR) signed a multiyear preferred provider agreement with Marathon Petroleum to supply downstream chemical technologies and digital monitoring across the United States. The deal covers deployment of solutions at 12 oil refineries and 2 renewable fuel facilities, using products like XERIC™, TOPGUARD™, and BIOQUEST™ to improve reliability, environmental compliance, and reduce nonproductive time.

The agreement reinforces a multi‑decade relationship and positions Baker Hughes as Marathon’s preferred hydrocarbon treatment provider for its U.S. refining and renewable fuel operations.

Positive

• Designated preferred provider to Marathon Petroleum under a multiyear agreement
• Deployment across 12 oil refineries and 2 renewable fuel facilities in the U.S.
• Includes Baker Hughes downstream chemical portfolio and digital monitoring tools
• Emphasis on reducing nonproductive time and supporting environmental compliance

Negative

• Agreement disclosed no financial terms, limiting visibility on near‑term revenue impact
• Scope limited to the United States, creating geographic concentration of the engagement

Argus Feb 5 session

-3.06% close to close Open Argus

Details

News Market Reaction – BKR

On Feb 5, the day this news came out, BKR closed 3.06% below the previous close.

Data tracked by StockTitan Argus for the Feb 5 session.

Market Context

This announcement secures Baker Hughes as Marathon Petroleum’s preferred provider of downstream chem...

Analysis

This announcement secures Baker Hughes as Marathon Petroleum’s preferred provider of downstream chemical technologies across 12 refineries and 2 renewable fuels facilities, reinforcing its downstream chemicals positioning. It follows a series of recent milestones, including strong Q4 2025 results with $7.4B revenue and a $1.15B asset sale to streamline the portfolio. Investors may watch future disclosures for quantified revenue impact, margin profile of the agreement, and additional contract wins in low‑carbon and efficiency‑focused projects.

Key Figures

Refineries covered: 12 refineries Renewable facilities: 2 renewable fuel facilities Q4 2025 revenue: $7.4B +5 more

Refineries covered

12 refineries

Facilities under Marathon preferred provider agreement

Renewable facilities

2 renewable fuel facilities

Facilities using Baker Hughes chemicals and tools

Q4 2025 revenue

$7.4B

Fourth-quarter 2025 results

FY 2025 revenue

$27.7B

Full-year 2025 (flat YoY)

FY 2025 orders

$29.6B

Full-year 2025 total orders

IET orders

$14.9B

Record Industrial & Energy Technology orders in 2025

IET RPO

$32.4B

Year-end 2025 remaining performance obligations

PSI sale proceeds

$1.15B

Cash proceeds from PSI product line divestiture

Historical Context

5 past events · Latest: Jan 28

5 events

1. Jan 28

   Clean ammonia project

   24h Move

   +0.2%

   Awards for low‑carbon ammonia project with CO₂ capture and sequestration.

2. Jan 28

   Storage collaboration

   24h Move

   +0.2%

   Expanded Hydrostor A‑CAES partnership with up to 1.4 GW equipment supply.

3. Jan 28

   Storage collaboration

   24h Move

   +0.2%

   Further details on Hydrostor deal integrating Baker Hughes technology.

4. Jan 25

   Earnings results

   24h Move

   +4.4%

   Q4 and FY25 results with strong orders, record IET backlog, solid cash flow.

5. Jan 05

   Asset divestiture

   24h Move

   +4.1%

   Sale of PSI product line for $1.15B to support balance sheet and capital redeployment.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

demulsifiers, corrosion inhibitors

2 terms

demulsifiers technical

"including XERIC™ heavy oil demulsifiers, TOPGUARD™ corrosion inhibitors, BIOQUEST™"

Demulsifiers are chemical agents used to separate mixed liquids—most often removing water from crude oil or other oil-containing mixtures—so the oil can be processed, sold, or transported. Think of them like a helper that makes an oil-and-vinegar salad dressing split cleanly so each part can be handled correctly; for investors, effective demulsification affects production efficiency, product quality, operating costs, environmental compliance and equipment longevity, all of which influence profitability.

corrosion inhibitors technical

"including XERIC™ heavy oil demulsifiers, TOPGUARD™ corrosion inhibitors, BIOQUEST™"

Corrosion inhibitors are substances or treatments that slow or stop metal from rusting or deteriorating, like a protective sunscreen or rustproofing for industrial equipment and pipelines. They matter to investors because they help companies cut repair and replacement costs, extend the life of costly assets, meet safety and environmental rules, and create steady demand for suppliers—factors that affect profit margins, capital spending and long‑term business risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Solutions will be implemented at 12 refineries and 2 renewable fuels facilities
• Chemical technologies and digital monitoring tools designed to optimize operational efficiency
  

HOUSTON and LONDON, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday an agreement with Marathon Petroleum, the largest U.S. petroleum refiner, to become its preferred provider for hydrocarbon treatment products and services at refineries across the United States. The multiyear preferred provider agreement was signed during Baker Hughes’ 26^th Annual Meeting in Florence, Italy.

Under the agreement, Baker Hughes will provide its portfolio of downstream chemical technologies, including XERIC™ heavy oil demulsifiers, TOPGUARD™ corrosion inhibitors, BIOQUEST™ renewable additives, and digital monitoring tools. These technologies will be deployed across 12 oil refineries and two renewable fuel facilities in the United States to support reliable operations and environmental compliance while reducing nonproductive time.

“Providing the energy that powers modern industry requires refiners to be flexible, efficient, reliable and sustainable,” said Amerino Gatti, executive vice president, Oilfield Services & Equipment at Baker Hughes. “The solutions engineered by Baker Hughes are helping our customers meet that challenge. Baker Hughes has established itself as the leader in downstream chemicals, and our three decades of collaboration with Marathon Petroleum are a testament to the innovation, commitment and expertise of our team.”

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Brian Reynolds
+1 363-315-6663
brian.reynolds@bakerhughes.com 

Investor Relations:

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com
   

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Baker Hughes (BKR) agree with Marathon Petroleum on February 5, 2026?

Baker Hughes agreed to be Marathon Petroleum's preferred provider for downstream chemical products and services. According to Baker Hughes, the multiyear deal covers deployment across 12 refineries and two renewable fuel facilities in the United States.

Which Baker Hughes products will be used at Marathon Petroleum sites under the BKR agreement?

Baker Hughes will deploy its XERIC™ demulsifiers, TOPGUARD™ corrosion inhibitors, BIOQUEST™ renewable additives, and digital monitoring tools. According to Baker Hughes, these technologies aim to optimize operations, reduce nonproductive time, and support environmental compliance.

How many Marathon Petroleum facilities will Baker Hughes serve under the 2026 agreement?

The agreement covers services at 12 oil refineries and 2 renewable fuel facilities in the United States. According to Baker Hughes, the deployment is intended to support reliable operations and regulatory compliance across those sites.

Does the Baker Hughes and Marathon Petroleum deal include digital monitoring and how will it help operations?

Yes, the agreement includes Baker Hughes' digital monitoring tools to help detect issues and reduce downtime. According to Baker Hughes, digital monitoring is paired with chemical treatments to improve operational efficiency and lower nonproductive time.

Did Baker Hughes disclose the financial value of the Marathon Petroleum (BKR) preferred provider agreement?

No, Baker Hughes did not disclose specific financial terms or contract value for the multiyear agreement. According to Baker Hughes, the announcement focuses on scope, technologies, and the number of facilities covered rather than monetary figures.