What does GE’s deal with Baker Hughes mean for the oil industry?
What does GE’s deal with Baker Hughes mean for the oil industry?
General Electric is seeking to combine its oil-and-gas business with conglomerate Baker Hughes. The deal, if approved by regulators, will create a new company jointly owned by GE and Baker Hughes shareholders. Consolidation within oilfield-services allows major players to weather the current tough low-cost oil climate and position themselves for an expected recovery. The move will have implications for the sector and for GE’s ability to compete with rivals such as Schlumberger.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
