Baker Hughes Announces Update on Russia Operations
Published by Todd Bush on March 22, 2022
March 19, 2022 11:15 AM Eastern Daylight Time HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR) ('Baker Hughes' or the 'Company') announced it has suspended new investments for its Russia operations. The Company is continuing to comply with applicable laws and sanctions as it fulfills current contractual obligations.
'The crisis in Ukraine is of grave concern and we strongly support a diplomatic solution. We condemn violence and our hearts go out to the people and families of those impacted,' said Lorenzo Simonelli, chairman & CEO of Baker Hughes. 'The health and safety of our employees, customers, partners, and their families always remains our top priority. We have been continuously monitoring the situation, and today's announcement follows an internal decision made with our Board of Directors and communicated to our leadership team earlier this week. We remain committed to act in full compliance.'
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
>>Read more about Baker Hughes and NET Power Partner for Zero-Emissions Power Plants
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Companies
Latest issues
-
64 Carbon Projects Were Stuck. Texas Just Unlocked Them
Inside This Issue 🛢️ 64 Carbon Projects Were Stuck. Texas Just Unlocked Them ⚙️ In Ohio, Hydrogen Industry Presses on Despite Federal Uncertainty 🧲 Agami Zero Breaks Through With Magnetic Hydrogen...
-
This U.S. Plant Might Change Aviation Forever
In This Issue 🛫 A Georgia Plant Just Cracked Aviation's Fuel Puzzle 📉 CO2RE And ERM Release 2025 Update On Greenhouse Gas Removal Costs 🔗 Abatable Partners With BlueLayer To Streamline Corporate C...
-
Canada Just Made CCUS Way More Profitable
Inside This Issue 💼 Canada Unlocks EOR for Federal Tax Credits in Landmark Policy Shift 🚀 Carbontech Funding Opens as CDR Sector Pushes for Net-Zero Standard Revisions 💧 CHARBONE Confirms its Firs...
Company Announcements
-
Step strengthens Louisiana’s role in U.S. energy leadership and advances project finance process for biomass‑to‑fuel facility SACRAMENTO, Calif. & NEW ORLEANS -- DevvStream Corp. (Nasdaq: DEVS...
-
Climeworks Opens the World’s Largest Direct Air Capture Innovation Hub
Key takeaways: Climeworks launches the largest innovation center for Direct Air Capture, employing over 50 engineers in Zurich, Switzerland. The center is designed to reduce the cost and increase...
-
XCF Global Moves to Double SAF Production with New Rise Reno Expansion
Initial development completed at New Rise Reno 2, advancing XCF's second SAF production facility and positioning construction to begin in 2026. $300 million planned investment will double XCF'...
-
Carbon Capture Technology Relies on High-Performance CO2 Sensors
As the Global South's first Direct Air Capture (DAC) company, Octavia Carbon has commissioned the world's second DAC + geological storage plant. Harnessing Kenya's abundant renewable geothermal ene...