General Atomics Electromagnetic Systems (GA-EMS) has announced it has been awarded a contract for a six-module Gulftronic™ Electrostatic Separator system for installation at the Hyundai Oilbank Co. Ltd. (HDO) Daesan refinery in the Republic of Korea.
#GeneralElectric Co. is creating a $32bn oil business by combining its petroleum-related operations with #BakerHughes Inc., betting on a rebound for an industry mired by a historic slump in crude prices. The new company will be one of the industry’s largest players, bringing together a portfolio of capabilities spanning #oilfieldservices, equipment manufacturing and technology. #GE will own 62.5% of the merged entity, which will be publicly traded. Creating a partnership lets GE deepen its bet on oil and prepare for a possible rebound without absorbing all of Baker Hughes, which was the target in a failed acquisition this year by Halliburton Co.
General Electric Co. is creating a $32 billion oil business by combining its petroleum-related operations with Baker Hughes Inc., betting on a rebound for an industry mired by a historic slump in crude prices.