NEWS ARCHIVE

Baker Hughes hit by demand drop

HOUSTON-based drilling concern Baker Hughes has recorded a 33% drop in revenue for the past quarter compared to the same time in 2014. It finished the quarter with revenue of $US4 billion.

The income drop outperformed the 36% drop in the global rig count despite incremental headwinds from deteriorating pricing and unfavourable currency changes, chairman Martin Craighead explained. "Even...

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