Monday, April 25, 2016

GE seen becoming third largest oilfield service provider

STAVANGER, Norway -- GE may become the third largest oilfield service provider in 2016 if the company buys the planned divestments by Halliburton and Baker Hughes, according to the latest estimate by Rystad Energy.

In addition, GE is more sheltered amid the downturn in oil prices due to exposure to equipment and more resilient product lines.

Overall, GE’s upstream revenue is expected to gain by 6% this year from 2014’s level, while its competitors are expected to lose market share.


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