Baker Hughes raises full year revenue forecast on demand for LNG equipment
© Reuters. FILE PHOTO: The logo of energy services firm Baker Hughes is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photosupplier Baker Hughes on Thursday raised its full year revenue forecast, primarily on strong demand for its liquefied natural gas equipment.
"The LNG project pipeline remains strong, both in the U.S. and internationally, said Chief Executive Officer Lorenzo Simonelli. Orders in the segment, which includes its LNG business, are now expected to range between $14 billion and $14.5 billion, from its original forecast of $10.5 billion to $11.5 billion.
The company maintained its outlook for revenue from oilfield services and equipment business at a midpoint of $15.4 billion.
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