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Baker Hughes CEO Sees Upstream Oil and Gas Investment Picking Up

Baker Hughes | Outlook Despite Middle East Disruption

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By Emma Sanchez, Dani Burger, and Matthew Miller

April 24, 2026 at 3:54 PM UTC

Investment in oil and gas production is set to rise as disruptions from the Iran war spur a global push for energy security, according to the head of Baker Hughes Co.

The company, one of the world’s largest oilfield service providers, anticipates a rebound in upstream investment in the second half of 2026 and into 2027, Chief Executive Officer Lorenzo Simonelli said during an interview on Bloomberg Television on Friday.