GE and Baker Hughes com­bine

Alberta Oil - - OBSERVER | NEWS NUMBERS PEOPLE PLACES -

When Baker Hughes and Gen­eral Elec­tric’s oil and gas di­vi­sion even­tu­ally unite, the “New” Baker Hughes will be one of the most pow­er­ful play­ers in the oil­field ser­vice in­dus­try. The deal was an­nounced in Oc­to­ber, and should it pass muster with reg­u­la­tors, will cre­ate a com­pany with operations in 120 coun­tries, in­clud­ing Canada, and an es­ti­mated an­nual rev­enue of US$32 bil­lion—a close ri­val to reign­ing oil­field gi­ant Sch­lum­berger’s US$35.5 bil­lion.

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