So many posts about everything but layoffs. And there have been rumors about more cuts soon. Does anybody know more about that?
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First you need to know what you’re doing.
Every leader is telling their teams, we are why BH is still in business. And the sky is blue.
If the leadership is the reason, who’s to blame for poor performance when the bookings are great. The coolade is too tart for me. Same face when I smell toot.
Downsizing oilfield services, huh? Can they be more specific?
Will chemicals be okay? I’ve heard we are the only reason we remain in business?
The ‘topic’ is any gossip or information that will help hedge funds decide which company to short next. Layoffs are useful information that doesn’t always get reported, but any company gossip or scuttlebutt is useful.
So, keep it coming boys and gals.
BH is selling off whole divisions for nickels on the dollar. Yeah there’s more cuts coming. The ones before the sell and the cuts after the sell. Lorenzo is red tag selling BH while the price is low, ironically GE buy into oil was at record breaking highs. Must be a GE thing.
Lorenzo’s words:
“ The company will continue to downsize its oilfield services and equipment portfolio, CEO Lorenzo Simonelli said at the Barclays CEO Energy-Power conference, putting more emphasis on the energy transition and technology needed for renewables.”
Ha ha ha. Don’t boast, BH is glorified Generac dealer on this, and nothing else. Who’s providing the switch gear? And don’t say BH or GE because we both know that would be a lie.
Sure you do.
@3rta+19zUJv7N; @3hhi+19zUJv7N;
As I said, different scope of work. EPC pour the concrete, we build, install and service the gas turbine on top of it.
https://investors.bakerhughes.com/news-releases/news-release-details/baker-hughes-announces-major-lng-turbomachinery-order-qatar
Drilling contract just announced for GOM
The rig is running Cameron BOP and MH Wirth top side.
Its good that a contract has been awarded for GOM, but yet another opportunity slipped through BH hands.
Maybe next time or maybe BH can supply 150ft of flex pipe and some carbon capture air filters.
Every great business plan started with an idea! It could happen.
BH / GE must have messed up the deal since September. As of this month the entire world has been notified of Technip $30B deal
Not surprising that BH /GE dropped the ball.
https://www.technipfmc.com/media/press-releases/2021/02/technip-energies-and-chiyoda-awarded-a-major-lng-contract-for-the-north-field-east-project-in-qatar/?acceptpop=true
TechnipEnergy won the bid. But nice try.
BH/GE did win the Qatar LNG and will provide the refrigeration train with Baker compressors and GE gas turbines. It was announced last September. The selection announced a few weeks ago is for engineering procurement construction (EPC) work that BH/GE normally do not compete.
Outsider looking in, its so sad to see BH struggling in N/E. I enjoyed my time working with them and to see so much uncertainty for ex colleagues is sad. You can blame managers and execs but ultimately its the nature of the industry. Its always been volatile and now every other company is moving to renewables and alternatives. Its sad BH never had the foresight to do likewise.
Can’t close Montrose yet BOD will go first
Not being able to run a business successfully in the north sea oil industry is a failure in common sense, a failure in management ability, a failure in operation principles , a failure in sales. this is a failure in life. if you go down you can only blame yourselves but someone has to be a loser
baker should pull out of scotland like yesterday. all they're doing is f—ging a dead duck and going backwards
UK and the rest of Europe are about to get hit hard on utility bills. BH wants to be on the outside of that looking in. In the meantime, competition is gaining a lot of ground in energy services, capital equipment, and GOM operations. Not sure how both BH and GE didn’t get a foot in the door on the Qatar LNG expansion. Ouch! BH let a lot of expensive yet experienced sales people go. Wonder if BH plans to bring some back. LNG and oil are moving fast!
We'll keep cutting until we make a little money
The rumour is baker’s are moving out of Scotland, if Scotland do become an independent country tax bills would double, after Mays election and the SNP are elected a lot of big companies will turn their back’s on Scotland, baker hughes are preparing now
Yes, another 10 off shopfloor woodside Road to get chop.
Order book now peanuts