GE

Energy giant also forms venture with GE to reduce emissions from gas turbines.

Energy giant General Electric will be using one of the world's most powerful supercomputers, IBM's Summit, to run two new research projects that could boost the production of cleaner power.

Just 3 years after its landmark merger, GE has announced that in the next 3 years it plans to sell of all its remaining shares in Baker Hughes.

As part of a deal that could net up to $3 billion, GE will lose majority control of Baker Hughes just two years after it acquired the oilfield service company.

Baker Hughes is still a GE company, but it has partnered with a second company for artificial intelligence expertise, C3.ai. The deal is expected to speed the integration of AI into oilfield operations by the company which also markets GE’s device analytics platform, Predix.

The deal would raise nearly $4 billion for GE, which plans to reduce its stake in the oilfield services company from 62.5% to at least 50.1% after the transactions. It had previously announced in June its intention to sell its stake over a 2- to 3-year period.

GE announced today that it is spinning off Baker Hughes in its strategic plan for growth and shareholder value creation. It plans to focus on aviation, power, and renewable energy.

Siemens and GE are among the companies discovering the power of an open-source innovation community to offer solutions for significant oil and gas industry challenges, such as improved corrosion monitoring.

After finalizing the acquisition of GE Water and Process Technologies in September, the French resource management company, SUEZ Water Technologies and Solutions, will move to a new laboratory that facilitates increased work on digital applications for upstream and downstream.

Baker Hughes, a GE company, agreed to provide services and equipment for Twinza’s Pasca A field development, Papua New Guinea’s first offshore gas field.