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GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry.In July 2017, this division was merged with Baker Hughes.. The division supplied equipment for the petroleum industry including drilling, subsea and offshore, onshore, LNG, distributed gas, oil pipeline and oil storage, oil refinery and petrochemical.
Baker Hughes Company. Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, and reservoir consulting.
In 2015, GE Power garnered press attention when a model 9FB gas turbine in Texas was shut down for two months due to the break of a turbine blade. This model uses similar blade technology to GE's newest and most efficient model, the HA. After the break, GE developed new protective coatings and heat treatment methods.
Lufkin.com. Lufkin Industries is an American manufacturing company founded in 1902 and headquartered in Missouri City, Texas. Lufkin is a provider of rod lift products, automated control and optimization equipment and software for rod lift equipment to the oil and gas industry. It was an independent company until being acquired by GE Oil & Gas ...
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GE Oil & Gas acquires Vetco Gray for US$1.9 billion. 2007 GE Plastics is sold to SABIC for US$11.6 billion. 2008 GE Oil & Gas acquires Hydril Pressure & Control for US$1.12 billion from Tenaris, who retains possession of Hydril Premium Connections. 2008 GE Co. acquires Vital Signs Inc. for US$860 million: 2009
Also in 2007, GE Oil & Gas acquired Vetco Gray for $1.9 billion, followed by the acquisition of Hydril Pressure & Control in 2008 for $1.1 billion. GE Plastics was sold in 2008 to SABIC (Saudi Arabia Basic Industries Corporation). In May 2008, GE announced it was exploring options for divesting the bulk of its consumer and industrial business.
The economy of Houston is based primarily on the energy industry, particularly oil.However, health care, biomedical research, and aerospace also constitute large sectors. In 2021, the gross domestic product (GDP) of the Houston–The Woodlands–Sugar Land metropolitan statistical area (MSA) was 537 U.S. dollars billion, the fourth-largest of any metro area in the United States.
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