Oil : Baker Hughes turns to clean energy

Energia-africa juillet 23, 2021
Updated 2021/07/23 at 12:04

Baker Hughes, the US oil services company said on July 21 that its investments will now be focused on the new frontiers of energy. A statement that comes a month after the announcement of a partnership with the German start-up Electrochaea to help it develop synthetic natural gas (GNS) from CO 2  and green hydrogen.

Baker Hughes also announced his intention to become a major investor in the FiveT Hydrogen fund, in order to contribute to the development of hydrogen as a clean energy resource. “We will continue to invest and collaborate in strategic areas for new energy frontiers, advancing our partnerships in the areas of hydrogen, carbon capture, use and storage and integrated clean energy ,  said CEO Lorenzo Simonelli.

On the financial side, the company reported revenue of $ 5.1 billion in the three months ending June 30, up 12 percent from the previous quarter and up 4 percent from the previous quarter. year-over-year. Total free cash flow was $ 385 million in the second quarter, down 23% from the first quarter, but up 500% from the same quarter a year earlier.


Agence Ecofin

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