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GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry.In July 2017, this division was merged with Baker Hughes. [1]The division supplied equipment for the petroleum industry including drilling, subsea and offshore, onshore, LNG, distributed gas, oil pipeline and oil storage, oil refinery and petrochemical.
Baker Hughes Company is an American global energy technology company co-headquartered in Houston, Texas and London, UK.As one of the world's largest oil field services, industrial and energy technology companies, it provides products and services to the oil and gas industry for exploration and production, as well as other energy and industrial applications.
GE Oil & Gas acquires Vetco Gray for US$1.9 billion. [19] [20] 2007 GE Plastics is sold to SABIC for US$11.6 billion. [21] 2008 GE Oil & Gas acquires Hydril Pressure & Control for US$1.12 billion from Tenaris, who retains possession of Hydril Premium Connections. [22] [23] 2008 GE Co. acquires Vital Signs Inc. for US$860 million [24] 2009
Baker Hughes is still working through its complicated merger with GE's oil and gas business, and that's both good and bad.
Following years of strong dealmaking activity in the oil and gas industry, global oil and gas merger and acquisition, or M&A, activity plunged to a five-year low in 2013, as companies cut back on ...
Investors want the oil and gas companies to reduce costs, improve internal efficiencies, raise share repurchases and increase returns.
Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion, [73] [74] followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion. [75] [76] GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and ...
GE acquired Dresser from funds managed by Riverstone Holdings LLC and First Reserve Corporation. The move significantly expanded GE's offerings for energy and industrial customers worldwide and is the latest in a series of acquisitions over the last 10 years that have transformed GE's global energy portfolio.
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