Baker Hughes stumbles amid oil price with US$15B write down

OILFIELD service conglomerate Baker Hughes has booked a huge US$15 billion goodwill impairment charge for the first quarter, as the company stares down the barrel of oil and gas price declines and the COVID-19 pandemic cutting deep into global oil demand.

Baker Hughes stumbles amid oil price with US$15B write down Baker Hughes stumbles amid oil price with US$15B write down Baker Hughes stumbles amid oil price with US$15B write down Baker Hughes stumbles amid oil price with US$15B write down Baker Hughes stumbles amid oil price with US$15B write down

 

The Houston-based company will hack its capital expenditure by 20% this year compared to last year's budget, and has adopted a new restructuring plan that will result in around $1.

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