Welcome to our dedicated page for Baker Hughes news (Ticker: BKR), a resource for investors and traders seeking the latest updates and insights on Baker Hughes stock.
Baker Hughes Company reports developments tied to its role as an energy technology company serving energy and industrial customers worldwide. Recurring updates cover oilfield services and equipment, industrial and energy technology, financial results, dividends, governance matters and customer orders for turbomachinery, gas compression, power generation and lifecycle services.
Company news also includes project awards involving NovaLT™ gas turbines, LM-series aeroderivative turbines, centrifugal compressors, remote monitoring and diagnostic services, and inspection technologies through Waygate Technologies. These announcements reflect Baker Hughes' exposure to LNG, pipeline, offshore production, refinery and industrial inspection markets, alongside regular capital-return and earnings communications.
Plug Power, Chart Industries, and Baker Hughes are set to be cornerstone investors in the FiveT Hydrogen Fund, aimed at advancing clean hydrogen infrastructure. Plug Power will invest €160 million ($200 million), while Chart and Baker Hughes will each contribute €50 million ($60 million). The Fund aspires to raise €1 billion from various investors and will exclusively finance projects in clean hydrogen production, storage, and distribution. This collaboration emphasizes the increasing importance of hydrogen in the energy transition and the potential for significant environmental impact.
Baker Hughes (NYSE: BKR) has entered a global exclusive licensing agreement with SRI International for the innovative Mixed-Salt Process (MSP) for CO2 capture. Supported by the U.S. Department of Energy, this partnership enhances Baker Hughes' carbon capture, utilization, and storage (CCUS) capabilities, crucial for reducing emissions and achieving net-zero targets. The MSP offers improved efficiency, lower environmental impact, and uses widely available, eco-friendly solvents, presenting a cost-effective solution for various industries, including power and cement.
Baker Hughes (NYSE: BKR) has signed a memorandum of understanding with Horisont Energi to collaborate on the Polaris carbon storage project in Norway. This initiative aims to enhance carbon capture, transport, and storage (CCTS) technologies while minimizing costs and delivery times. The Polaris project is set to have a carbon storage capacity of over 100 million tons, equivalent to twice Norway's annual greenhouse gas emissions. Both companies aim to drive decarbonization in the energy sector and develop high-efficiency technologies across the carbon capture value chain.
Baker Hughes (NYSE: BKR) will host a webcast on April 21, 2021, at 8:00 a.m. ET to discuss its Q1 2021 results, ending March 31, 2021. The press release will precede the webcast at 6:30 a.m. ET. Investors can access the webcast via the Baker Hughes website. With over 120 countries in operation, Baker Hughes aims to advance energy technology to create safer and more efficient energy solutions for clients worldwide.
Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) have launched the BHC3™ Production Schedule Optimization (PSO), an AI application aimed at enhancing industrial demand planning and manufacturing scheduling. This tool improves supply chain performance and reduces costs for engineered products by generating precise demand forecasts and production schedules. The PSO integrates multiple inputs to optimize manufacturing processes and has already shown a 20% improvement in demand forecasting accuracy during trials with clients in the oil and gas sector.
Baker Hughes and C3 AI have introduced the BHC3™ Production Schedule Optimization (PSO), an AI application aimed at enhancing industrial demand planning and scheduling in manufacturing. This tool optimizes supply chains by accurately forecasting demand and creating optimal production schedules. It integrates various inputs such as market prices and customer orders, demonstrating a 20% improvement in forecasting accuracy during trials with a hydrocarbon processing company. BHC3 PSO supports diverse manufacturing processes, aiming to reduce costs and improve productivity across industrial sectors.
Baker Hughes (NYSE:BKR) and Akastor ASA have formed a joint venture combining Baker Hughes’ Subsea Drilling Systems with Akastor’s MHWirth. This partnership aims to deliver a full-service offshore drilling equipment offering, enhancing operational capabilities and financial strength. The 50-50 owned company will operate from Houston and Kristiansand, with Merrill A. Miller as CEO. The transaction, subject to regulatory approvals, is anticipated to close in the second half of 2021, leveraging a combined revenue of $713 million for FY 2020.
Baker Hughes (NYSE: BKR) is set to acquire ARMS Reliability, a leader in reliability solutions for various industries, including mining and oil. This acquisition enhances Baker Hughes’ asset performance management (APM) capabilities and expands its industrial asset management services. The integration is expected to drive growth in APM adoption globally and provide a complete suite of services across industrial asset lifecycles, improving operational efficiencies and reducing downtime significantly. The deal is anticipated to close in Q2 2021.
Baker Hughes (NYSE: BKR) has partnered with PAO NOVATEK to address carbon emissions in natural gas and LNG production. This collaboration focuses on developing cutting-edge compression and power generation technologies for NOVATEK's LNG projects. The initial phase includes a pilot program introducing hydrogen blends to reduce CO2 emissions at the Yamal LNG complex. Baker Hughes will supply engineering and turbomachinery solutions to retrofit existing LNG liquefaction trains, supporting both efficiency and sustainability in operations.
Baker Hughes (NYSE: BKR) has declared a cash dividend of $.18 per share of Class A common stock. This dividend is payable on February 19, 2021 to shareholders on record as of February 9, 2021. The company, recognized for its innovative energy technology solutions, operates in over 120 countries and is committed to delivering efficient and sustainable energy solutions.