GE combines its oil and gas business with Baker Hughes
On 31 October, GE and Baker Hughes announced an agreement to combine GE's oil and gas business with Baker Hughes. In the short term, the new entity will double GE's exposure to the US onshore and is better positioned to compete with Schlumberger and Haliburton. The new entity is also placing strong emphasis on digitisation and big data. If the new entity can deliver enhanced products that support production optimisation, it will be a win-win for the company and E&P industry.