Baker Hughes joins Halliburton in Aida-fuel oil service hit

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Another disappointment that rocks the oil services sector: Baker Hughes reported a decline in earnings in the third quarter, including warnings of hurricane Aida pain and sluggish oil demand.

The world’s second-largest oilfield services and equipment provider is in the oil services sector on October 20 due to supply chain roars, cost inflation in the chemical business, and a storm in the US Gulf of Mexico that struck Portofochon, Louisiana two months ago. Said was damaged. Baker Hughes earned 16 cents per share, except for certain items, but below the analyst’s estimate of 21 cents in the third quarter. The results are after Halliburton reported revenues that simply met expectations, citing Aida’s struggle.

“Showing how oil patch hired hands are suffering record costs for the rest of 2021 and 2022, will drive further growth in demand for oil and natural gas globally. We see signs of economic recovery going on, “Baker Hughes CEO Lorenzo Simonelli said in a statement. “But the pace of growth is hampered by COVID-19 delta variants, global chip shortages, supply chain problems, and energy supply constraints.”

At 8:16 am, before the start of regular trading in New York, the stock price fell 1.4% to $ 26.49.

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https://www./articles/baker-hughes-joins-halliburton-ida-fueled-oil-services-hit Baker Hughes joins Halliburton in Aida-fuel oil service hit

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