BUZZ - Baker Hughes expands business in Venezuela with oil and gas agreements; shares rise
路透社2026/10/05 15:46October 5th - Shares of U.S. oilfield services provider Baker Hughes (BKR.O) rose over 3% to $57.80. The company announced that it has signed agreements with Venezuela’s state oil company PDVSA, engineering firm Lindsayca, and Fulcrum LNG (link) to develop natural gas infrastructure in the country. Baker Hughes also reached an agreement with New Stratus Energy to support the development of future oil and gas projects. These agreements create a framework to organically integrate the development of Venezuela’s upstream resources, midstream infrastructure, natural gas monetization, and LNG commercialization. According to the first agreement, BKR, Lindsayca, and Fulcrum will jointly build infrastructure for natural gas processing, transportation, sales, and potential exports. Of 26 brokerages, 21 have given the stock a “buy” or higher rating, 4 have rated it “hold,” and 1 has rated it “sell,” with a median price target of $73.50—data compiled by LSEG. Including the day’s gain, the stock is up 26.61% year-to-date. (To help non-English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the translated texts and provides them for reader convenience only. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation features.)
October 5 - ** Shares of US oilfield services provider Baker Hughes BKR.O rose more than 3% to $57.80
** The company said it has signed agreements with Venezuela's state oil company PDVSA, engineering firm Lindsayca, and Fulcrum LNG (link) to develop natural gas infrastructure in the country
** Baker Hughes also reached an agreement with New Stratus Energy to support the development of future oil and gas projects
** The company said these agreements establish a framework that organically integrates the development of Venezuela's upstream resources, midstream infrastructure, natural gas monetization, and LNG commercialization
** According to the first agreement, BKR, Lindsayca, and Fulcrum will jointly develop infrastructure for the processing, transport, sale, and possible export of natural gas
** Out of 26 brokerages, 21 gave the stock a "buy" or higher rating, four rated it "hold," and one gave a "sell" rating, with a median target price of $73.50—data compiled by LSEG
** Including Wednesday's price move, the stock has gained 26.61% so far this year
(To facilitate non-English speakers, Reuters has provided its report via automated translation into several languages. Automated translation may contain inaccuracies or lack desired context; Reuters does not guarantee the accuracy of automated translation, which is provided for readers’ convenience only. Reuters accepts no liability for any harm or loss resulting from use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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