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Global oilfield services companies are bracing for a hit to earnings as the Iran war disrupts energy infrastructure across the Middle East and producers hold back on new drilling until higher oil prices prove durable.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-January, energy services firm Baker Hughes said on Friday.
Baker Hughes partners with Google Cloud to launch AI-driven solutions for data centers, targeting efficiency gains and lower emissions.
Low reliance on debt should enable oilfield service companies to access capital on favorable terms in a volatile business environment, underpinning a promising outlook for the Zacks Oil and Gas- Field Services industry. HAL, BKR, FTI and AROC are well poised to gain.
HOUSTON--(BUSINESS WIRE)--XGS and Baker Hughes announce a strategic collaboration and initial order for engineering services to advance XGS's 150-MW geothermal project.
Baker Hughes (BKR) stands out among oilfield service peers due to its fast-growing Industrial & Energy Technology (IET) segment and strategic transformation. BKR's IET segment, driven by gas and industrial technology, grew revenues 74% from 2020–2025, offsetting cyclical oilfield weakness. The Chart Industries acquisition will nearly double BKR's non-oil and gas revenue exposure, but increases leverage and balance sheet risk.
HOUSTON, March 24, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR) on Tuesday announced it is collaborating with Google Cloud to develop advanced AI-enabled power optimization and sustainability solutions for the rapidly growing global data center sector. Baker Hughes intends to combine complementary technologies and expertise to help address the increasing power demand driven by AI data center expansion.
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