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
-
Chevron’s Dual Hydrogen Projects Could Change the U.S. Energy Game
Inside This Issue 🛢️ Chevron Doubles Down on U.S. Hydrogen Innovation with Dual Projects in Texas and California 🧾 Exclusive: White House Considers Plan to Clear Record Backlog of Small Refinery B...
-
Trump Administration Cancels $3.7 Billion in Clean Energy Projects
Inside This Issue 💸 Trump Administration Cancels $3.7 Billion in Clean Energy Projects, Ending Ambitious Industrial Decarbonization Efforts 🌊 A New Protocol for Carbon Removal via Direct Ocean Cap...
-
Hydrogen Just Got a Major Green Light from the Feds
Inside This Issue ⚡ Energy Department Removes Barriers for American Energy Producers, Unleashing Investment in Domestic Hydrogen 🛳️ MASH Makes Powers First Vessel Trial With Biofuel From a Carbon-...
Company Announcements
-
Partnership Signals Breakthrough Collaboration in Carbon Removal and Sustainable Fuel Development for $1 Billion Clean Fuels Facility STERLINGTON, LA, UNITED STATES, June 4, 2025 /-- Monroe Seques...
-
Verde and Ergon Sign MOU to Advance Commercialization of Low-Carbon Road Materials
ST. LOUIS, June 4, 2025 /PRNewswire/ -- Verde Resources Inc. (OTCQB: VRDR), a leader in sustainable road construction technologies, announced today that its wholly owned subsidiary, Verde Renewable...
-
Series A funding to accelerate deployment of modular DAC systems delivering cost-effective, on-site CO₂ for food, beverage, manufacturing, and agriculture—offering a path to large-scale sequestrati...
-
Charbone Hydrogen Secures $50M to Expand Green Hydrogen Production Across North America
Charbone Hydrogen Corporation is making some serious moves in the green hydrogen space. The company just locked in up to $50 million in construction funding from True Green Capital Management LLC, ...