Welcome to our dedicated page for Baker Hughes Co news (Ticker: BKR), a resource for investors and traders seeking the latest updates and insights on Baker Hughes Co stock.
Baker Hughes Company (NASDAQ: BKR) is an energy technology company serving energy and industrial customers worldwide through its oilfield services and equipment and industrial and energy technology segments. The BKR news feed on Stock Titan aggregates company announcements, project awards, portfolio updates, and financial disclosures drawn from official releases and regulatory filings.
News about Baker Hughes often covers major contracts and technology deployments across the global energy value chain. Recent announcements include awards to supply liquefaction equipment and turbomachinery for large LNG export projects, agreements to provide artificial lift systems and digital production solutions for oil and gas fields, and multi-year arrangements for integrated underbalanced coiled tubing drilling operations. The company also reports on its participation in projects such as low-carbon ammonia plants and geothermal power generation, reflecting the use of its technology in a range of energy applications.
Investors and industry followers can also track Baker Hughes’ portfolio management activities through the news stream, including its planned acquisition of Chart Industries, Inc., the sale of its Precision Sensors & Instrumentation product line to Crane Company, and the formation of a joint venture for its surface pressure control product line with a subsidiary of Cactus, Inc. Earnings releases, segment performance commentary, and updates on remaining performance obligations provide additional context on the company’s financial and operational trends.
By following the BKR news page, readers can review a consolidated view of Baker Hughes’ project awards, technology deployments, strategic transactions, and financial updates as they are reported in public communications and SEC-related disclosures.
Baker Hughes (NASDAQ: BKR) and Frontier Infrastructure announced a partnership to accelerate carbon capture and storage (CCS) and power solutions in the U.S. Frontier's Sweetwater Carbon Storage Hub (SCS Hub) spans nearly 100,000 acres in Wyoming, providing open-access CO₂ storage for industrial emitters and ethanol producers.
Baker Hughes will supply CCS and power generation technologies, including CO₂ compression, well design, and NovaLT™ gas turbines, enhancing project efficiency and resource allocation.
Frontier has three Class VI permits and has started drilling, with first injection expected by year-end 2025. The partnership aims to optimize project execution, expand infrastructure, and meet rising energy demands with 256 MW of new gas-fired generation capacity.
Baker Hughes anticipates orders as projects progress, leveraging its expertise in turbine technology and CCS innovation to support decarbonization efforts.
Baker Hughes (NASDAQ: BKR) has appointed Ahmed Moghal as its new Chief Financial Officer, effective immediately. Moghal, who currently serves as CFO of the Industrial & Energy Technology (IET) business, succeeds Nancy Buese. The change comes as Baker Hughes progresses in its strategic transformation, having achieved record results last year.
The company reaffirmed its 2025 outlook, projecting solid EBITDA growth, targeting 20% EBITDA margin for OFSE segment in 2025 and IET segment in 2026. Baker Hughes remains committed to returning 60-80% of free cash flow to shareholders.
Moghal brings over two decades of experience and has been with Baker Hughes since 2017, starting after the merger with GE Oil & Gas. Buese will transition to a strategic adviser role before departing on April 30, 2025.
Baker Hughes (NASDAQ: BKR) has been selected by Argent LNG as the technology provider for its proposed LNG export facility in Port Fourchon, Louisiana. The facility aims to produce approximately 24 million tonnes per annum (MTPA) of LNG.
Baker Hughes will provide liquefaction solutions, power generation equipment, and gas compression systems, featuring their NMBL™ modularized LNG solution powered by LM9000 gas turbines. The project will integrate iCenter™ digital solutions powered by Cordant™ to optimize operational efficiency.
The project's Phase 1 construction is scheduled to begin in 2026, with commercial operations expected by 2030. Phase 2 is progressing through critical milestones, including FERC approvals and gas supply agreements. Baker Hughes anticipates receiving orders as the project advances toward Final Investment Decision.
Baker Hughes (NASDAQ: BKR) has partnered with Hanwha Power Systems and Hanwha Ocean through a Joint Development and Collaboration Agreement (JDCA) to develop small-size turbines for ammonia applications. The partnership combines Baker Hughes' gas turbine technology with Hanwha's ammonia combustion system.
The new ammonia turbine (~16MW power range) will be suitable for marine, onshore, and offshore applications, including electric generation and mechanical drive. Hanwha Ocean will be the primary beneficiary, implementing the solution in future vessels. Hanwha has successfully tested a proof-of-concept combustor using 100% ammonia fuel, while Baker Hughes completed initial turbine feasibility studies in 2024.
The companies aim to complete full engine testing with ammonia by end-2027, after which the turbine will be commercially available. This development follows Baker Hughes' January 2024 announcement of successful testing of the world's first 100% hydrogen turbine.
Hanwha Power Systems and Hanwha Ocean have signed a Joint Development and Collaboration Agreement with Baker Hughes (NASDAQ: BKR) to design and produce low carbon ammonia gas turbines. The collaboration aims to develop turbines capable of 100% ammonia combustion and dual fuel operation with natural gas-ammonia blend.
The project builds on Baker Hughes' proven small-size turbine technology and PSM's newly-developed ammonia combustion system. Hanwha Group plans to complete the development of LNG carriers and container ships using this ammonia gas turbine propulsion system by 2028. In September 2023, the companies received approval in principle from ABS for applying ammonia gas turbines to LNG carriers.
PSM completed initial high-pressure ammonia combustion testing and Baker Hughes finished turbine feasibility studies in 2024. The initiative supports Hanwha Group's vision, announced at Davos Forum, to create the world's first fossil fuel-free ship.
Baker Hughes (NASDAQ: BKR) has secured a major multi-year contract from ExxonMobil Guyana to supply specialty chemicals and related services for the Uaru and Whiptail offshore developments in Guyana's Stabroek Block. The contract covers topsides, subsea, water injection, and utility chemicals for the Errea Wittu and Jaguar FPSO vessels, set to begin production in 2026 and 2027.
The developments will include up to 20 drill centers and 92 production and injection wells. Each FPSO will have a capacity of 250,000 barrels per day, contributing to Guyana's total daily production capacity of approximately 1.3 million barrels. Baker Hughes, which operates a multimodal supercenter in Georgetown, will leverage its local supply chains and expertise in oilfield and industrial chemicals to support these complex FPSO operations.
Baker Hughes (BKR) reported strong Q4 and full-year 2024 results, with notable achievements in both quarters. Q4 highlights include orders of $7.5 billion, revenue of $7.4 billion (up 8% YoY), and adjusted EBITDA of $1,310 million (up 20% YoY). The company achieved GAAP diluted EPS of $1.18 and adjusted diluted EPS of $0.70.
Full-year 2024 performance showed revenue of $27.8 billion (up 9% YoY), attributable net income of $2,979 million, and adjusted EBITDA of $4,591 million (up 22% YoY). The company returned $1,320 million to shareholders, including $484 million in share repurchases.
Baker Hughes announced a 10% increase in quarterly dividend to $0.23. The Industrial & Energy Technology (IET) segment secured significant LNG and gas infrastructure contracts, while Oilfield Services & Equipment (OFSE) gained notable contracts in Europe and the Middle East.
Baker Hughes (NASDAQ: BKR) has announced a quarterly cash dividend increase of 10% to $0.23 per share of Class A common stock, representing a $0.02 increase compared to the same quarter last year. The dividend will be payable on February 21, 2025, to shareholders of record as of February 11, 2025. The company plans to fund this dividend payment through cash generated from operations.
Baker Hughes (NASDAQ: BKR) has secured a significant order from Tecnicas Reunidas for the third expansion phase of Aramco's Jafurah gas field in Saudi Arabia. The contract, booked in Q4 2024, includes six gas compression trains and six propane compressors, along with balance of plants and auxiliaries.
The company will provide state-of-the-art electric motor driven compression solutions, leveraging its recently expanded Damman Center in Dammam. This order strengthens Baker Hughes' partnership with Aramco, following previous collaborations on the Haradh and Hawiyah gas plants, first phase of Jafurah, and the third phase of Saudi Arabia's Master Gas System project.
Baker Hughes (NASDAQ: BKR) has secured a major contract to provide modularized LNG system and power island solutions to Venture Global (VG) LNG projects in the United States. The company also signed a multi-year services agreement for maintenance, inspection, repairs, and engineering services supporting phases 1 and 2 of VG's Plaquemines LNG project in Louisiana.
As a strategic LNG technology supplier to Venture Global, Baker Hughes has been instrumental in delivering over 100 million tons per annum (MTPA) of production capacity, including comprehensive LNG solutions for both Calcasieu Pass and Plaquemines LNG facilities. The equipment order and services agreement were secured in Q4 2024. Recently, Venture Global achieved a significant milestone with the successful loading and departure of the first LNG cargo from its Plaquemines LNG facility.