GE Oil & Gas: Baker Hughes merger creates oilfield services giant

GE Oil & Gas, the oil and gas equipment and services division of American industrial technology behemoth General Electric Co (GE), last week announced completing its acquisition of rival Baker Hughes Inc.

The merger is estimated to have created the world’s second-largest oilfield services provider by revenue. The new company, to be called ‘Baker Hughes, a GE company’, has begun trading on the New York Stock Exchange since last week under the stock ticker ‘BHGE’.

‘The new company is the first and only to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development’, according to a media statement issued by the merged entity.

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