Skip to main content

Baker Hughes reports fall in profit

Published by
Oilfield Technology,


As reported by Reuters, Baker Hughes has announced that its adjusted profit fell 9% in 2Q21 from the previous three months, as crude producers kept a tight lid on spending despite a recovery in oil prices.

Adjusted net income attributable to the company was US$83 million, or 10 cents per share, in the quarter ended June 30, compared with US$91 million, or 12 cents per share, in 1Q21.

The recovery in oil demand is under threat from new strains of COVID-19, but Baker Hughes expects spending and activity levels to gain momentum through the year as the macro environment improves, CEO Lorenzo Simonelli said in a statement.


Read the latest issue of Oilfield Technology in full for free: Issue 2 2021

Oilfield Technology’s second issue of 2021 starts with a report from KPMG that examines the outlook for the Scottish oil and gas sector. The rest of the issue is dedicated to articles covering the offshore supply chain industry, offshore asset integrity, expandable liner technology, advances in drilling, data security, flow control, EOR and methane emissions.

Exclusive contributions come from Tata Steel, EM&I Group, 3X Engineering, Enventure Global Technology, Varel Energy Solutions, Adrilltech, Tendeka and more.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21072021/baker-hughes-reports-fall-in-profit/

You might also like

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Upstream news US upstream news Oil & gas news


 

Oilfield Technology is not responsible for the content of external internet sites.