Latest news with #BakerHughes'
Yahoo
08-07-2025
- Business
- Yahoo
Baker Hughes and Evida Partner to Advance CO2 Transport in Denmark
Baker Hughes Company (BKR), a leading energy technology company, has joined forces with Denmark's state-owned gas distributor Evida to develop and scale CO2 transport solutions across Denmark, per an Offshore Energyreport. The strategic partnership is aimed at supporting the country's carbon reduction ambitions through reliable, efficient and safe CO2 infrastructure. Signed in April, the collaboration merges Baker Hughes' expertise in CO2 process equipment with Evida CO2's capabilities in CO2 pipeline transport. The partnership will focus on creating scalable solutions for CO2 emitters in Denmark, leveraging Evida's 40-year legacy in gas network operations and Baker Hughes' industry-leading technology. Henrik Jensen, chief commercial officer at Evida, highlighted Baker Hughes' strong position as a leading manufacturer of CO2 process equipment and emphasized that the company's experience and technical expertise make it a highly suitable partner for advancing Denmark's CO2 transport infrastructure. Evida CO2, the subsidiary leading the effort, is already preparing for the first pipeline connections in line with the Danish government's carbon capture and storage (CCS) tender timelines. The goal is to create a cost-effective, reliable network linking CO2 emitters with storage facilities. Jensen noted that Evida CO2 is working to develop a safe and reliable CO2 pipeline infrastructure designed to support the entire value chain of CO2 capture, transport and storage. The collaboration comes as Denmark accelerates its CCS ambitions. The country issued its first-ever CO2 storage permit in late 2022 to INEOS E&P and Wintershall Dea for the Greensand Pilot Injection Project, with the first CO2 injection into the North Sea completed in March 2023. In May 2025, the Danish Energy Agency prequalified 10 companies for its CCS funding initiative. Final bids are due by Dec. 17, 2025, with contracts expected to be awarded in April 2026. As Denmark advances with its large-scale decarbonization efforts, the Baker Hughes–Evida partnership is poised to play a pivotal role in establishing the CO2 transport backbone required to meet national and regional climate targets. Currently, Baker Hughes carries a Zacks Rank #4 (Sell). Investors interested in the energy sector may look at a few better-ranked stocks like TechnipFMC plc (FTI), W&T Offshore, Inc. WTI and Oceaneering International, Inc. OII. TechnipFMC, W&T Offshore and Oceaneering International carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. TechnipFMC continues to build momentum in its subsea business, supported by strong order activity and a growing pipeline of opportunities. A key strength in FTI's business model is its limited exposure to U.S. land operations, which are more sensitive to volatile commodity pricing. The Zacks Consensus Estimate for FTI's 2025 EPS is pegged at $2.08. The company has a Value Score of B. W&T Offshore benefits from its prolific Gulf of America assets, which offer low decline rates, strong permeability and significant untapped reserves. The company's acquisition of six shallow-water fields in the GoA added 18.7 million barrels of proved reserves and 60.6 million barrels of proved plus probable reserves. The firm is focused on strategically allocating capital toward organic projects, which should boost its production outlook. WTI has a Value Score of B. Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability. The Zacks Consensus Estimate for OII's 2025 EPS is pegged at $1.79. The company has a Value Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TechnipFMC plc (FTI) : Free Stock Analysis Report W&T Offshore, Inc. (WTI) : Free Stock Analysis Report Oceaneering International, Inc. (OII) : Free Stock Analysis Report Baker Hughes Company (BKR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
The Sun
07-07-2025
- Business
- The Sun
Baker Hughes to help Malaysian firms achieve net zero gas emission
PETALING JAYA: Energy technology company Baker Hughes aims to help Malaysian energy and industrial companies to commit and achieve their path towards net-zero gas emissions by 2050. The current energy dilemma occurring in the country is that companies are relying heavily on fossil fuels, yet there is much potential for renewable energy especially in the transition to net-zero gas emissions. Malaysia's National Energy Transition Roadmap (NETR) sets targets and initiatives under six energy transition levers (including hydrogen, Carbon Capture, Utilisation, and Storage (CCUS) and energy efficiency), while Hydrogen Economy and Technology Roadmap (HETR) aims to position the country as a leading hydrogen economy by 2025. Malaysia's pathway to net zero by 2050 is ambitious but feasible—provided strong governance, public-private collaboration, and societal support. Baker Hughes is an energy technology company that understands the demands on energy, what it takes to produce it and how to use it, why it's essential to reduce its impact, and where changes should be made to achieve a sustainable balance. Baker Hughes has worked with over a hundred customers, holding a deep understanding of reducing emissions, innovating new technologies, driving cleaner energy, maximising productivity, and improving continuously in order to bring digitally powered optimisation to energy and beyond. Baker Hughes' initiatives in CCUS and hydrogen technologies complement Malaysia's renewable energy strategies as their expertise supports the integration of low-carbon solutions into the national energy framework. Baker Hughes has been in Malaysia for over 50 years; with Kuala Lumpur serving as a key regional hub for the company's regional operations across its industrial equipment technology and oil field services and equipment business. With over 1200 employees, Malaysia also hosts one of the company's three global fleet monitoring and diagnostics connectivity center called iCenter, providing 24/7 monitoring of 1000+ global assets. They work with leading customers and stakeholders in the region to enable efficiencies and meet the growing energy demand. Baker Hughes said it is supporting Malaysia's net-zero goals through their Carbon Out programme which involves an Emissions Reduction Target. They are committed to reducing Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 50% by 2030 and achieving net-zero by 2050. In collaboration with Petronas, Baker Hughes is supplying carbon dioxide compression equipment for the Kasawari offshore carbon capture and sequestration (CCS) project in Sarawak. This initiative is anticipated to be one of the world's largest offshore CCS facilities, with the capacity to reduce CO2 emissions by 3.3 million ton per annum (MTPA). The company also invests in clean energy technology such as hydrogen technology, geothermal energy and CCUS solutions
Yahoo
24-06-2025
- Business
- Yahoo
UBS Holds Neutral on Baker Hughes (BKR) After $1.15B Deal With Crane
Baker Hughes Company (NASDAQ:BKR) is one of the . Analyst firm UBS maintained its rating of Baker Hughes Company (NASDAQ:BKR) at Neutral on June 10 and set a stable price target of $40 on the company's shares. The update followed Baker Hughes' announcement that it was selling its PSI product line to Crane Company for $1.15 billion. The deal, going for a price much higher than Baker Hughes' current EV/EBITDA multiple, is viewed as a strategic move for the company. Baker Hughes views the deal as a strategic decision because it was sold for a price far greater than its current EV/EBITDA multiple. It is expected that the deal will help Baker Hughes raise its profit margins, which will help it achieve its goal of an EBITDA margin of 20%. Crane Company, a diverse manufacturer of designed industrial goods, has purchased the PSI product line, which deals with pressure pumping systems. The sale is a component of Baker Hughes' ongoing endeavors to optimize its operations and concentrate on more lucrative areas. Baker Hughes Company (NASDAQ:BKR), one of the biggest oil field services, industrial, and energy technology firms in the world, offers goods and services to the oil and gas sector for exploration and production as well as other industrial and energy applications. While we acknowledge the potential of BKR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
Baker Hughes Announces Sale of Precision Sensors & Instrumentation Product Line to Crane Company
Product line includes Druck, Panametrics and Reuter-Stokes brands Transaction aligns with Baker Hughes' ongoing portfolio optimization HOUSTON and LONDON, June 09, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to sell its Precision Sensors & Instrumentation (PSI) product line to Crane Company (NYSE: CR, 'Crane'), a diversified manufacturer of engineered industrial products, for a total cash consideration of approximately $1.15 billion. PSI, part of Baker Hughes' Industrial & Energy Technology (IET) segment, includes the Druck, Panametrics and Reuter-Stokes brands. These brands manufacture instrumentation and sensor-based technologies to detect and analyze pressure, flow, gas, moisture and radiation across various industries. PSI employs approximately 1,600 people across several manufacturing and service facilities globally. The sale encompasses all assets of the business, including intellectual property, footprint and resources. This divestiture, along with the recently announced Surface Pressure Control transaction, is aligned with Baker Hughes' focus on value-creating portfolio management that enhances the durability of earnings and cash flow and enables the company to reallocate capital toward higher-return opportunities using a strategic and disciplined approach to capital deployment. 'This transaction continues the progress we have made in enhancing our strategic focus on IET's core competencies of rotating equipment, asset performance management, flow control, and decarbonization to continue to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' Baker Hughes Chairman and CEO Lorenzo Simonelli said. 'We believe the value realized in this transaction is a testimony to these product lines' quality and the potential they can achieve as part of Crane.' Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close at the end of 2025 or early 2026. Evercore is serving as financial adviser for Baker Hughes on this transaction. About Baker HughesBaker 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 For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations Chase Mulvehill+1 Sign in to access your portfolio
Yahoo
02-06-2025
- Business
- Yahoo
Baker Hughes, Cactus Create Joint Venture for Surface Pressure Control Services
Cactus to become majority owner and operator of Baker Hughes' surface pressure control product line, with Baker Hughes retaining 35% stake Joint venture combines complementary portfolios to lead technological innovation Aligns with Baker Hughes' ongoing strategy to optimize its portfolio HOUSTON and LONDON, June 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Monday an agreement to form a new joint venture with a subsidiary of Cactus, Inc. (NYSE: WHD, 'Cactus'), in which Baker Hughes will contribute its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, will assume operational control, owning 65% of the joint venture, while Baker Hughes will retain a 35% stake. The joint venture will operate independently from Cactus' existing Pressure Control business and will focus on maintaining its leadership position in the international market for surface wellhead and production tree systems. This targeted portfolio refinement is aligned with Baker Hughes' focus on enhancing the durability of earnings and cash flow and will enable the company to reallocate capital toward higher-return opportunities, all while maintaining a strategic and disciplined approach to capital deployment. 'This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,' said Baker Hughes Chairman and CEO Lorenzo Simonelli. 'We remain committed to our valued SPC partners and customers whose operations we have proudly supported, and we believe this joint venture only enhances delivery of innovation and reliability in well control as the combined business will leverage Cactus' unconventional expertise and agility into international markets.' The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close in the second half of 2025. 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 For more information, please contact: Media Relations Adrienne M. Lynch+1 Investor Relations: Chase Mulvehill+1 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
