Baker Hughes demobilizes personnel from Iraq as precautionary measure.

Baker Hughes demobilizes personnel from Iraq as precautionary measure.

Baker Hughes, a global energy technology company, has announced a precautionary measure by demobilizing personnel from Iraq. This decision comes amidst ongoing geopolitical tensions and security concerns in the region. The move is aimed at ensuring the safety and well-being of its employees and maintaining operational integrity.

The demobilization of personnel from Iraq is part of Baker Hughes' broader strategy to mitigate risks associated with global operations. The company has been active in the region, providing safe, clean, and efficient solutions to clients in the liquefied natural gas industry. However, recent geopolitical developments have necessitated this precautionary step.

Baker Hughes CEO Lorenzo Simonelli stated, "We are committed to the safety and security of our employees and are taking proactive measures to ensure their well-being. The decision to demobilize personnel from Iraq is a prudent step to manage risks in an ever-evolving geopolitical landscape."

The company's recent acquisition of Continental Disc Corporation for USD 540 million, advised by King & Spalding, has further bolstered its portfolio in safety-critical pressure management solutions. This acquisition, expected to close in quarter four 2025, aligns with Baker Hughes' strategy to expand its addressable market and drive higher returns for shareholders.

Despite the precautionary measure, Baker Hughes continues to operate in other regions and segments, including Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). The company's stock, traded under the NASDAQ symbol BKR, has seen increased institutional ownership and analyst interest in recent quarters, with a consensus rating of "Moderate Buy" and a target price of $49.11 [2].

References:
[1] https://iclg.com/news/22732-king-and-spalding-guides-baker-hughes-on-acquiring-continental-disc-corporation
[2] https://www.marketbeat.com/instant-alerts/filing-monte-financial-group-llc-makes-new-294-million-investment-in-baker-hughes-company-nasdaqbkr-2025-06-21/