Baker

Recent spot price weakness and fewer sanctions expected this year for export projects have not changed the overall long-term supply and demand picture for liquefied natural gas (LNG), Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.

Lorenzo Simonelli, president and CEO of Baker Hughes, a GE company (BHGE), has added chairmanto his title, as expected, succeeding GE Chairman/CEO Jeff Immelt, who has retired from the BHGE board. BHGE board member J. Larry Nichols, chairman of Devon Energy Corp., also plans to resign from the board after serving on the Baker Hughes Inc. board for 16 years. With the two resignations, BHGE has reduced the size of its board to nine and named current GE-designee BHGE board member W. Geoffrey Beattie as the lead director. GE owns 62.5% of BHGE.

Former Secretary of State James A. Baker III reiterated his plea last week for Democrats and Republicans to come together to fight climate change.

Billing itself as “the world’s first and only fullstream oil and gas company,” Baker Hughes Inc. and GE Oil & Gas announced Monday that their mega-merger — estimated at $32 billion — is complete.

Billing itself as “the world’s first and only fullstream oil and gas company,” Baker Hughes Inc. and GE Oil & Gas announced Monday that their mega-merger — estimated at $32 billion — is complete.

Baker Hughes Inc. and General Electric Co. said Monday they have reached tentative agreement with the U.S. Department of Justice to allow their mega-merger to be completed by mid-year.

Baker Hughes Inc., which is to become a unit of General Electric Co. (GE) once theirestimated $32 billion merger is completed, said current GE Oil & Gas chief Lorenzo Simonelli will become CEO/president. GE CEO Jeff Immelt will serve as chairman of Baker with current Chairman/CEO Martin Craighead as vice chairman. Other executives tapped for the GE unit include CFO Brian Worrell; Maria Claudia Borras, CEO/president, oilfield services; Belgacem Chariag, chief global operations officer; Rod Christie, CEO/president, turbomachinery/process systems; Harry Elsinga, chief human resources officer; Jennifer Hartsock, chief information officer; Matthias Heilmann, CEO/president, digital solutions; Jack Hinton, chief health, safety, environment officer; Nicola Jannis, chief business development officer; Derek Mathieson, chief marketing/technology officer; Jody Markopoulos, chief engineering/supply chain officer; Will Marsh, chief legal officer; Neil Saunders, CEO/president oilfield equipment; and Uwem Ukpong, chief integration officer. The company, with dual headquarters in Houston and London, is to have operations in more than 120 countries and 70,000 employees.

Baker Hughes Inc. has been riding a bit of a rough road as it casts off its North American pressure pumping business and prepares for the mega-merger with a unit of General Electric (GE), but the destination — a broader price recovery — is in sight, CEO Martin Craighead said Tuesday.

Law firm Baker Botts LLP has hired nine partners, formerly with Norton Rose Fulbright, in its Houston office. The move strengthens the firm’s services to the energy industry, it said. The partners moving to Baker Botts include Edward Rhyne; David Peterman, former head of Norton’s U.S. mergers and acquisitions (M&A), and securities practices; Robert Phillpott, former head of Norton’s U.S. tax practice; Efren Acosta, former head of Norton’s Houston corporate, M&A and securities practices; Ned Crady; Daniel Mark; Natasha Khan; Ron Scharnberg; and Dan Tristan.