|Traded as||NYSE: BHI
S&P 500 Component
|Industry||Oil and gas|
|Founded||1907 / 1987 (merger)|
|Headquarters||American General Center
Houston, Texas, U.S.
|Key people||Mr. Martin S. Craighead
(Chairman) and (CEO)
|Revenue||$ 22.4 billion (FY 2013)1page needed|
|Operating income||$ 2.6 billion (FY 2011)2|
|Net income||$ 1.7 billion (FY 2011)2|
|Total assets||$ 24.8 billion (FY 2011)2|
|Total equity||Oilfield services equipment|
Baker Hughes is the combination of companies that have developed and introduced technology to serve the petroleum service industry.
In April, 2007, Baker Hughes pleaded guilty in the U.S. Federal Court to violations of the Foreign Corrupt Practices Act (FCPA), including bribing oil-related industry officials in Russia, Uzbekistan, Angola, Indonesia, and Nigeria.,5 Under the settlement, a unit of the Houston-based company pleaded guilty to violations of the Foreign Corrupt Practices Act (FCPA) for payments made between 2001 and 2003 to a commercial agent retained in 2000 in connection with a project in Kazakhstan. After bribes were paid, Baker Hughes was awarded an oil-services contract in a Karachaganak, Kazakhstan field that generated $219 million in revenues from 2001 to 2006.
During the annual period of negotiations between trade unions and their employer counterparts in Norway 114 Baker Hughes employees were called to strike action in June 2012. Due to their key positions in the oil industry the strike by SAFE-organized Baker Hughes employees would affect more than a dozen offshore oil installations.67
Baker Hughes has acquired companies, allowing for a wider range of services to customers. These companies were divided into divisions, each responsible for an area of oilfield service expertise. One of such divisions is detailed below.
- Baker Oil Tools (BOT).8
- Baker Petrolite - Baker Petrolite provides chemical technology solutions for hydrocarbon production, transportation and processing, and also delivers pipeline integrity services.
- Centrilift - Centrilift provides artificial lift systems, including electric submersible pumps (ESP) and progressive cavity pump systems, as well as engineering, project management and well monitoring services.9
- "Baker Hughes Incorporated 2013 Annual Report, Form 10-K,". Retrieved March 17, 2014.
- "Baker Hughes Incorporated 2011 Annual Report, Form 10-K, Filing Date Feb 24, 2012". secdatabase.com. Retrieved July 5, 2012.
- "Contact Us - Baker Hughes Global Headquarters Offices." Baker Hughes. Retrieved on October 19, 2009.
- Map of Neartown. Neartown Association. Retrieved October 20, 2008.
-  New York Times, Baker Hughes Admits to Overseas Bribery
- Halvorsen, Toril Hole (June 11, 2012). "Streik i Baker Hughes" [Strike in Baker Hughes] (in Norwegian). oilinfo.no. Archived from the original on June 11, 2012. Retrieved June 11, 2012.
- "Some Norway oil workers on strike, production unaffected". Reuters. June 10, 2012. Archived from the original on June 11, 2012. Retrieved June 11, 2012.
- "Baker Oil Tools Ltd.". Oilfield Directory Publications. Retrieved 29 April 2011.
- "BHI - Production - Artificial Lift". Baker Hughes Inc. Retrieved 29 April 2011.