Baker Hughes: Diversifying for the Age of Gas and the Data Center Boom

The oil and gas sector may be facing daily volatility—just look at the XOP energy ETF, which recently suffered its worst daily performance since early August—but Baker Hughes continues to carve out a strong position in the global energy transition. Under the leadership of CEO Lorenzo Simonelli, the company is strategically diversifying beyond traditional oilfield services and leaning into long-term growth themes: natural gas, LNG exports, digital efficiency, and the rise of power-hungry data centers.

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Halliburton Layoffs Signal Deeper Strain in Oilfield Services Sector

Halliburton, one of the world’s largest oilfield services providers, is the latest to announce staff reductions as the U.S. oil industry faces rising costs, falling prices, and heightened volatility. According to sources familiar with the matter, the company has quietly rolled out workforce cuts over the past several weeks, with at least three business divisions losing between 20% and 40% of employees.

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Chevron CEO Michael Wirth on Balancing Energy, Growth, and Transition

At the center of this transition is Michael Wirth, Chairman and CEO of Chevron, who has spent more than four decades in the industry. Under his leadership, Chevron is pursuing a dual strategy—strengthening its oil and gas portfolio through major acquisitions like Hess, while simultaneously investing in lower-carbon technologies such as renewable diesel, hydrogen, and geothermal energy.

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