Baker Hughes beats first-quarter profit on strong demand for natural gas technology

Reuters - 23:42

U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for first-quarter profit on Tuesday, helped by robust demand for natural gas technology.

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April 22 (Reuters) - U.S. oilfield technology firm Baker Hughes (BKR.O), opens new tab beat Wall Street estimates for first-quarter profit on Tuesday, helped by robust demand for natural gas technology.

The upbeat results come as oilfield services firms are bracing for the impact of tariffs introduced by President Trump, which are expected to raise costs and disrupt the sourcing of key materials used in equipment like drill pipes and artificial lift systems.

With Big Tech pouring billions of dollars into AI technology, the demand for electricity to feed power-hungry data centres has been increasing and with it the demand for LNG.

Baker Hughes has been trying to leverage its Industrial and Energy Technology (IET) portfolio to drive grow...
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Original link, read full article here: https://www.reuters.com/business/energy/baker-hughes-reports-first-quarter-profit-beat-2025-04-22/
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