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Baker Hughes

Baker Hughes

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209 stories mentioning Baker HughesUpdated 2d ago

Baker Hughes reported US rigs rising by one to 550 amid a Permian and Haynesville land-drilling rebound, while crude posted a weekly loss.

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Commodities

Update: US Active Rig Count Unchanged, Baker Hughes Says

(Updated with additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US was unchanged at 588 in the week ending Aug. 28, according to data from Baker Hughes (BKR) released Friday.The US oil rig count decreased by five, from 452 the previous week to 447, while the number of gas rigs was up by five, from 127 to 132, the data showed.The number of miscellaneous rigs in the US held steady at nine. The US had 412 oil, 119 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American rig count, a key early indicator of future production levels, dropped by five to 799 from 804 the previous week.Price: $62.42, Change: $+0.31, Percent Change: +0.50%

$BKR
Commodities

US Active Rig Count Unchanged, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US was unchanged at 588 in the week ending Aug. 28, according to data from Baker Hughes (BKR) released Friday.The US oil rig count decreased by five, from 452 the previous week to 447, while the number of gas rigs was up by five, from 127 to 132, the data showed.Price: $62.47, Change: $+0.36, Percent Change: +0.58%

$BKR
Commodities

US Active Rig Count Stays Unchanged, Baker Hughes (BKR) Says

US Active Rig Count Stays Unchanged, Baker Hughes (BKR) Says

$BKR
Wire

Baker Hughes' Chart Acquisition Financially Compelling, RBC Says

Baker Hughes' (BKR) acquisition of Chart Industries is financially compelling and adding a third leg to its stool, RBC Capital Markets said in a note Monday.RBC analysts updated their estimates following the close of its $13.6 billion acquisition of Chart but ahead of a formal guidance."We view the acquisition as financially compelling as it is 11% accretive to 2027 EPS, improves corporate EBITDA margins, and broadens BKR's growth profile into industrial end markets," the analysts said.The acquisition is margin accretive, with corporate EBITDA margins expected to improve 30 basis points in 2026 and 70 bps in 2027, they said.RBC maintained its outperform rating while raising its price target to $76 from $71.Price: $62.34, Change: $+0.36, Percent Change: +0.57%

$BKR
Oil & Energy

Weekly Crude Gains Nearly 6% as Hormuz Disruptions, US-Iran Tensions Lift Prices

Crude benchmarks logged a second consecutive weekly gain, driven by the collapse of US-Iran diplomatic talks, severe disruptions in the Strait of Hormuz, and potential new US economic sanctions on Iran.West Texas Intermediate settled at $86.64 per barrel, up from $82.40/bbl the previous week, while Brent closed at $93.70/bbl, up from $88.73/bbl a week earlier.Both benchmarks gained almost 6% over the week.The rally was primarily fueled by geopolitical tensions, stalled diplomatic efforts between Washington and Tehran, and persistent disruptions to regional energy flows, market analysts said."The lack of a solution in the Middle East continues to raise oil prices, which have now risen for several days in a row," Pia Fromlet, an economist at SEB Research, said in a Friday note.The week began under heavy pressure as the interim 60-day peace framework set out under the Islamabad Memorandum of Understanding expired without a permanent peace agreement or an extension.Following this, tensions escalated sharply when the UAE halted all trade and financial transactions with Iran, accusing Tehran of launching ballistic missiles at its territory, an allegation denied by Iranian officials.Ship-tracking data show that commercial vessel traffic through the critical Strait of Hormuz remained heavily constrained due to ongoing security risks and attacks, with confirmed daily crossings plunging to multi-month lows and Middle East refinery runs remaining severely depressed.Throughout the week, market sentiment was heavily driven by escalating political rhetoric and policy moves.President Trump threatened sweeping "economic warfare" against Iran, vowing severe secondary consequences for any nation or entity offering Tehran an economic lifeline.Echoing this stance, US Treasury Secretary Scott Bessent announced plans for a tough new sanctions package, further intensifying pressure on Iran's economy.Bessent said he would disclose details on the new measures on Monday."The US administration is expected to provide details on Monday about how it intends to further isolate Iran's economy, with traders concerned that tougher measures could trigger significant blowback from China, a key trading partner and buyer of Iranian oil," Saxo Bank analysts said.The potential for a Chinese response adds another layer of uncertainty to an already tight market, keeping attention focused on the broader risks to regional energy supplies."The measures are expected to target Tehran directly, while potentially extending to countries that continue doing business with Iran, including China," analysts at Aegis Hedging said in a Friday note.Aegis cited Rystad Energy's forecasts that Chinese crude purchases could increase by up to 1.2 million barrels per day from Q3 through year-end 2026 after the world's largest crude importer reduced purchases and refinery runs in response to the Middle East-driven price spike."With the Middle East crisis showing few signs of easing, the risk of further disruption to regional energy flows continues to support crude and refined product prices," Saxo Bank analysts noted.Despite Washington's claims that the Strait of Hormuz is open, vessel transit volumes remain severely limited, and recent attacks on infrastructure in Saudi Arabia and commercial vessels have kept a hefty geopolitical risk premium priced into the market."Washington's harder economic stance toward Iran and the lack of progress toward reopening the Strait of Hormuz continue to keep a substantial supply premium in the market," Gelber & Associates said.On the supply side, the Energy Information Administration reported a 4.4-million-barrel build in US commercial crude inventories for the week ended Aug. 14, bringing stocks in line with the five-year average.The build is above Macquarie's estimate of a 3.9-mmbbl inventory rise for the week ended Aug. 14."The commercial stock build was driven by higher domestic supply despite strong export demand and lower imports," ING analysts noted.The US oil rig count decreased by three, from 455 the previous week to 452, in the week ending Aug. 21, according to data from Baker Hughes (BKR) released Friday. That compares with 411 oil rigs in operation a year earlier.The consolidated North American rig count, a key early indicator of future production levels, dropped by eight to 804 from 812 the previous week.Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended Aug. 18, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released Friday.The data showed that money managers reported 195,631 long positions, up 3,126 from Aug. 11, while short positions were up 2,805 to 91,596.Money managers' net long position increased marginally by 321 contracts to 104,035 contracts from 103,714 the previous week. This indicates little change in bullish positioning despite the rise in crude prices.Meanwhile, security risks also remain elevated beyond the Strait of Hormuz. A US-sanctioned tanker reportedly sailing under a false flag was hijacked in the Gulf of Aden and redirected toward Somalia, according to MarineTraffic on Thursday.Six armed individuals reportedly boarded the tanker and took control of the vessel.MarineTraffic data showed that the 32,200-deadweight-ton oil products tanker updated its AIS destination to Port Sudan on Aug. 14 and entered the Somalia "high-risk" area on Aug. 19.

$BKR
Oil & Energy

US Natural Gas Prices Rise for 2nd Straight Week Amid Robust Weather-Related Momentum

US natural gas prices ended their second consecutive week in the green, as weather-related momentum continued to support prices despite a bearish storage build.In the futures market, the Nymex front-month contract ended the week at $2.76 per million British thermal units on Friday, up from $2.71/MMBtu on Aug. 14.Natural gas spot prices increased to $2.94/MMBtu on Wednesday, up $0.12/MMBtu, according to the US Energy Information Administration's Weekly Gas Storage Supplement, released on Thursday.This comes amid forecasts of above-normal temperatures expected to blanket almost the entire country, except for parts of the Northeast and Northwest, from Aug. 28 through Sept. 3, according to a report by the National Weather Service.During the week as well, cooler temperatures across the Northeast and parts of the West offset above-average temperatures across the South, with total demand easing slightly by 0.8 billion cubic feet per day, due to lower power burn, according to data from S&P Global.Meanwhile, gas output remained largely unchanged, averaging 116.6 Bcf/d, even as net imports from Canada declined slightly by 0.2 Bcf/d.US LNG export feedgas flows continued to hover around 17.5 Bcf/d, below the 30-day moving average of 17.97 Bcf, as well as the Summer peak of 19 Bcf/d in April, according to the Bloomberg LNG Feedgas Model.The net injection into storage for the week ended Aug. 14 was 16 Bcf, down significantly from last week's 36 Bcf, while bringing total gas inventories to 3,169 Bcf, according to the weekly EIA inventory data.The net storage build overshot forecasts for a 15 Bcf injection, but came in below both the prior year's 19 Bcf build and the five-year average of 29 Bcf for the period, according to data compiled by Investing.com.Only the East and the Midwest regions reported net injections of 15 Bcf and 19 Bcf, respectively, while most others, such as the Mountain, Pacific, and South Central, offset much of this with significant net withdrawals during the week ended Aug. 14.At 3,169 Bcf, total US working gas in storage was 28 Bcf, or 1% below the same period last year, but 185 Bcf, or 6% above the five-year average for this period.According to Pinebrook Energy Advisors, inventories remained healthy heading into the "fall shoulder season," with strong production and peak summer demand now firmly in the rearview mirror.As a result, markets are likely to focus more on the prospect of comfortable storage levels heading into winter than on modest misses against weekly injection forecasts.A total of 34 LNG carriers departed US ports during the week, down two from the prior week, with a total combined capacity of 129 Bcf, down 5 Bcf from last week.Meanwhile, the US gas rig count was down by one, from 128 to 127, in the week ending Aug. 21, according to data from Baker Hughes (BKR) released Friday. That compares with 122 ga rigs in operation a year earlier.The consolidated North American rig count, a key early indicator of future production levels, dropped by eight to 804 from 812 the previous week.In international markets, European TTF gas prices averaged $21.11/MMBtu for the week ended Aug. 19, $1.36/MMBtu above the prior week. This week's average TTF price was the highest in over three years, since the week ending January 11, 2023, at $22.02/MMBtu.Meanwhile, the Japan-Korea Marker averaged $21.60/MMBtu, about $0.41/MMBtu above the prior week.

$BKR
Commodities

Update: US Active Rig Count Falls by 5, Baker Hughes Says

(Updated with additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US fell by 5 to 588 in the week ending Aug. 21, according to data from Baker Hughes (BKR) released Friday.The US oil rig count decreased by three, from 455 the previous week to 452, while the number of gas rigs was down by one, from 128 to 127, the data showed.The number of miscellaneous rigs in the US dropped by one to nine. The US had 411 oil, 122 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American rig count, a key early indicator of future production levels, dropped by eight to 804 from 812 the previous week.Price: $62.58, Change: $-0.20, Percent Change: -0.32%

$BKR
Commodities

US Active Rig Count Falls by 5, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US fell by 5 to 588 in the week ending Aug. 21, according to data from Baker Hughes (BKR) released Friday.The US oil rig count decreased by three, from 455 the previous week to 452, while the number of gas rigs was down by one, from 128 to 127, the data showed.Price: $62.72, Change: $-0.06, Percent Change: -0.10%

$BKR
Commodities

US Active Rig Count Down by 5, Baker Hughes (BKR) Says

US Active Rig Count Down by 5, Baker Hughes (BKR) Says

$BKR
Commodities

Public Operators Drive US Horizontal Drilling Higher Despite Mixed Rig Signals, TPH Energy Says

Public operators drove higher US horizontal drilling activity last week, with gains concentrated in key basins despite mixed overall rig-count signals, TPH Energy Research said in a Monday note.Enverus' count fell one rig over the week to 625, while its trailing four-week average held at zero net change. Baker Hughes (BKR), meanwhile, added six rigs to reach 578, with its four-week average up by two.Enverus data showed horizontal activity rising by seven rigs over the week, entirely due to public operators. Several rigs shifted from private to public operators, while others moved between basins.Despite the operator changes, TPH observed several structural deployments across both oil and gas basins. The Permian recorded the largest regional increase, adding six rigs over the week.The Bakken, Niobrara and Appalachia each added three rigs, while Anadarko activity declined by four rigs, creating mixed drilling trends across major US basins.Canadian activity also strengthened, with the rig count rising by 15 rigs over the week to 217, compared with 176 rigs working a year earlier, according to TPH Energy.Price: $64.36, Change: $-0.46, Percent Change: -0.71%

$BKR
Wire

Capital One Adjusts Price Target on Baker Hughes to $73 From $71

Baker Hughes (BKR) has an average rating of overweight and mean price target of $71.55, according to analysts polled by FactSet.Price: $64.15, Change: $-0.67, Percent Change: -1.04%

$BKR
Oil & Energy

Oil Posts Weekly Rise as Geopolitical Risks Offset Bearish Demand Outlook

Global oil benchmarks logged weekly gains on Friday as persistent Middle East supply risks and Strait of Hormuz bottlenecks overshadowed bearish demand revisions.West Texas Intermediate settled at $82.40 per barrel, up from $77.08/bbl the previous week, while Brent closed at $88.73/bbl, up from $82.35/bbl a week earlier.The rebound broke a two-week losing streak as markets navigated a tug-of-war between enduring Middle East supply threats and mounting downward pressures from weak global demand and higher US crude stockpiles.Supply anxieties intensified following a wave of regional security incidents.The Abu Dhabi National Oil Company reported that two of its vessels were attacked while trying to cross the Strait of Hormuz, while Houthi drone strikes targeted Saudi Aramco's Jazan refinery on the Red Sea coast.Furthermore, stalled diplomatic talks between the US and Iran, compounded by mutual demands for financial compensation and ongoing naval blockades, left the critical Hormuz waterway effectively restricted.Analysts noted that while alternative bypass pipelines and modest traffic increases have helped partial flows, persistent disruptions continue to command a heavy risk premium."Oil prices are currently being pulled in two opposing directions: supply risks in the Middle East continue to provide support, while weakening global demand, a sharp increase in US crude inventories, and the prospect of higher OPEC+ production are exerting downward pressure," said Linh Tran, Market Analyst at XS.comOn the demand side, major energy agencies delivered sharply bearish revisions.OPEC lowered its global oil demand growth forecast for 2026 to 600,000 barrels per day in its monthly oil market report.Simultaneously, the International Energy Agency projected that global consumption would contract by 1.6 million barrels per day this year, a steeper drop than previously estimated as elevated prices and regional supply bottlenecks weigh heavily on usage.Meanwhile, domestic US supply metrics added to the market's complexity.The Energy Information Administration reported that US commercial crude inventories surged by 17.4 million barrels to 424.4 million barrels in the week ended Aug. 7, marking the largest weekly build since 2023 and driven largely by a jump in imports and a slowdown in exports.However, analysts pointed out that steep draws in refined products such as gasoline and diesel signaled tighter global product markets.Looking ahead, the EIA's latest Short-Term Energy Outlook expects US crude inventories to remain below the five-year low through the end of 2026.Due to ongoing constraints in the Strait of Hormuz, the EIA forecasts Brent spot prices to average around $85/bbl in Q3 of 2026.The US oil rig count increased by one from 454 the previous week to 455 in the week ending Aug. 14, according to data from Baker Hughes (BKR) released Friday. The US had 412 oil rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, increased by eight to 812 from 804 the previous week.Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended Aug. 11, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released on Friday.

$BKR
Commodities

US Natural Gas Prices Rise After 6-Week Slide Despite Bearish Inventory Build

After six consecutive weeks in the red, US natural gas prices finally caught a break and ended the week up, despite the higher-than-expected gas injection into storage.In the futures market, the Nymex front-month contract ended the week at $2.71 per million British thermal units on Friday, up from $2.67/MMBtu on Aug. 7.Natural gas spot prices increased to $2.82/MMBtu on Wednesday, up $0.22/MMBtu, according to the US Energy Information Administration's Weekly Gas Storage Supplement, released on Thursday.This comes amid warmer-than-normal temperatures throughout the week, with July being reported as the hottest month on record. Total gas demand surged 3.9 billion cubic feet per day, or 5%, driven by a 3.4 Bcf/d, or 8%, increase in power sector demand, according to S&P Global Energy.Meanwhile, gas output remained broadly unchanged, averaging 116.7 Bcf/d, along with net imports from Canada at 5.7 Bcf/d.US LNG feedgas flows averaged around 17.0 Bcf/d during the second week of August, which is below the Summer peak of 19 Bcf/d in April, according to data from Gas Processing News.The net injection into storage for the week ended Aug. 7 was 36 Bcf, up from last week's 33 Bcf, bringing total gas inventories to 3,153 Bcf, according to weekly EIA inventory data.Storage injections were above forecasts, which had expected a net build of 31 Bcf, and the five-year average for this period, at 33 Bcf, but were below the prior year's net injection of 49 Bcf during the same week, according to data compiled by Investing.com.All regions barring the Pacific reported a net injection for the week ended Aug. 7, which reported a withdrawal of 4 Bcf.The Midwest and East regions reported the highest net injections of 20 Bcf and 15 Bcf, respectively, followed by the South Central and Mountains regions at 3 Bcf and 2 Bcf, respectively.At 3,153 Bcf, total US working gas in storage was 25 Bcf, or 1% below the same period last year, but 198 Bcf, or 7% above the five-year average for this period.After several days of milder temperatures, weather forecasts turned bullish over the week, with above-normal temperatures expected to blanket almost the whole of the country, barring parts of the Northeast, from Aug. 21 through Aug. 27, according ot the National Weather Service.According to Pinebrook Energy Advisors, lingering heat across Texas and the Southeast continued to support elevated power-sector demand, while "strong production and healthy inventories" remained significant headwinds as the market approached the end of the peak summer demand season.The analysts also noted that storage growth had outpaced the seasonal benchmark for "four consecutive weeks and seven of the past eight" weeks, leading to a tidy surplus in storage.A total of 36 LNG carriers departed US ports during the week, up five from the prior week, with a total combined capacity of 134 Bcf, up 15 Bcf from last week.Meanwhile, the US gas rig count was up by four from 124 the previous week to 128 in the week ending Aug. 14, according to data from Baker Hughes (BKR) released Friday. That compares with 122 gas rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, increased by eight to 812 from 804 the previous week.In international markets, European TTF gas prices averaged $19.75/MMBtu for the week ended Aug. 12, $0.61/MMBtu above the prior week. Meanwhile, the Japan-Korea Marker averaged $21.19/MMBtu, about $0.04/MMBtu below the prior week.

$BKR
Commodities

Update: US Active Rig Count Rises by 5, Baker Hughes Says

(Updated with additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by 5 to 593 in the week ending Aug. 14, according to data from Baker Hughes (BKR) released Friday.The US oil rig count increased by one from 454 the previous week to 455, while the number of gas rigs was up by four from 124 the previous week to 128, the data showed.The number of miscellaneous rigs in the US remained the same at 10. The US had 412 oil, 122 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, increased by eight to 812 from 804 the previous week.Price: $65.04, Change: $+1.60, Percent Change: +2.52%

$BKR
Commodities

US Active Rig Count Rises by 5, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by 5 to 593 in the week ending Aug. 14, according to data from Baker Hughes (BKR) released Friday.The US oil rig count increased by one from 454 the previous week to 455, while the number of gas rigs was up by four from 124 the previous week to 128, the data showed.Price: $65.03, Change: $+1.59, Percent Change: +2.50%

$BKR
Commodities

US Active Rig Count Rises by 5, Baker Hughes (BKR) Says

US Active Rig Count Rises by 5, Baker Hughes (BKR) Says

$BKR
Sectors

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index increased 0.8%, and the Dow Jones US Utilities Index advanced 1.1%.Front-month West Texas Intermediate crude oil rose 1.5% to $83.33 a barrel, and the global benchmark Brent crude contract gained 1.5% to $89.04 a barrel. Henry Hub natural gas futures decreased 0.9% to $2.77 per 1 million BTU.In corporate news, Duke Energy (DUK) shares rose 1.6% after it said Tuesday it priced a public offering of 35 million equity units, with each unit to be issued in a stated amount of $50, for about $1.72 billion in expected net proceeds.Phillips 66 (PSX), Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Phillips 66 shares gained 4%, Kinder Morgan added 0.4%, and HF Sinclair rose 1.5%.Baker Hughes (BKR) said it has signed a multiyear contract with Kuwait Oil Co. to support technology innovation in the country's upstream energy sector. Baker Hughes shares added 1%.Flowco (FLOC) shares added 3.1% after it posted higher Q2 earnings and revenue.

$BKR$DINO$DUK$FLOC$KMI$PSX
Sectors

Sector Update: Energy Stocks Gain Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index increased 0.6%, and the Dow Jones US Utilities Index advanced 0.7%.Crude oil extended gains as investors weighed geopolitical developments in the Middle East. US and Iran are "close to some sort of arrangement" over the Strait of Hormuz, Pakistan's defense minister was cited as saying in a Bloomberg report. Majed al-Ansari, Qatar's Foreign Ministry spokesman, said negotiations between Oman and Iran on the future of shipping in the Strait of Hormuz have reached an advanced stage, Al Jazeera, a Middle Eastern broadcaster, reported. Meanwhile, a Saudi-owned commercial vessel was reportedly struck by a missile while transiting the Bab al-Mandeb Strait in the Red Sea, shipping sources and Yemeni officials told marine intelligence group Marisks, according to CNN.Front-month West Texas Intermediate crude oil rose 1.1% to $83.06 a barrel, and the global benchmark Brent crude contract gained 1% to $88.57 a barrel. Henry Hub natural gas futures fell 1.4% to $2.76 per 1 million BTU.In corporate news, Phillips 66 (PSX), Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Phillips 66 shares rose 3.5%, Kinder Morgan added 0.7%, and HF Sinclair gained 2.3%.Flowco (FLOC) shares gained 3.8% after it posted higher Q2 earnings and revenue.Baker Hughes (BKR) said it has signed a multiyear contract with Kuwait Oil Co. to support technology innovation in the country's upstream energy sector. Shares added 0.4%.

$BKR$DINO$FLOC$KMI$PSX
Sectors

Sector Update: Energy Stocks Decline Premarket Tuesday

Energy stocks were declining premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.2% lower.The United States Oil Fund (USO) was down 0.2% and The United States Natural Gas Fund (UNG) was 0.8% higher.Front-month US West Texas Intermediate crude oil was 0.1% lower at $82.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil declined 0.1% to $87.64 per barrel, and natural gas futures were up 0.1% at $2.80 per 1 million British Thermal Units.Venture Global (VG) stock was down more than 4% after the company reported Q2 revenue that missed analysts' expectations.Flowco (FLOC) shares were up more than 2% after the company posted higher Q2 earnings and revenue.Baker Hughes (BKR) has signed a multiyear contract with Kuwait Oil Co. to support technology innovation in the country's upstream energy sector, the company said. Baker Hughes stock was 0.1% higher premarket.

$BKR$FLOC$UNG$USO$VG$XLE
Equities

Baker Hughes Signs Multi-Year Contract With Kuwait Oil

Baker Hughes (BKR) has signed a multi-year contract with Kuwait Oil Company to improve technology innovation in the country's upstream energy sector, the company said Tuesday.Financial terms were not disclosed.Baker Hughes said it will work as a technology collaborator in the Ahmadi Innovation Valley, the state-owned energy company's initiative to establish an in-country research and innovation hub.As part of the deal, Baker Hughes will build a research and technology development center in the Ahmadi Innovation Valley, the company said.

$BKR

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