Baker Hughes at a loss as impairments take toll

摘要

BAKER Hughes sank to a loss of more than $10 billion in the first quarter on the back of previously disclosed impairments of over $15 billion. Revenues and orders were also down significantly over the fourth quarter of last year at the oilfield services giant, which, along with peers such as Halliburton and Schlumberger, is reeling in the wake of slumping oil prices amid demand destruction caused by the coronavirus pandemic.