Baker Hughes Expands in Namibia With New Oil & Gas Facilities
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Baker Hughes Company (BKR), a leading energy technology company, has expanded its footprint in Namibia by inaugurating state-of-the-art facilities at Walvis Bay Port. These include the country’s largest liquid mud plant by volume and capacity, a cement bulk facility and an integrated multi-modal facility. The company aims to support Namibia’s growing energy sector and create local opportunities.The new infrastructure is designed to provide critical support for offshore oil and gas operations. The liquid mud plant, with a capacity of 15,000 barrels of drilling and completion fluids, ensures customized solutions for customer needs. Meanwhile, the multi-modal facility includes advanced testing and maintenance equipment to assist subsea operations.Strategically positioned at Walvis Bay Port, these facilities enable a local and consistent supply of materials close to offshore fields, enhancing efficiency for energy companies operating in Namibia.Baker Hughes has made significant strides in local workforce development, employing trained Namibian workers and offering advanced training to personnel from NAMCOR and the Ministry of Mines and Energy. These initiatives are aimed at strengthening Namibia's skilled labor pool in oil and gas operations.Since the discovery of substantial offshore reserves in Namibia’s Orange Basin, Walvis Bay has emerged as a hub for the energy sector. Baker Hughes has been active in the region since 2021, providing drilling services, subsea wellheads and tubular running services. The new facilities mark a further commitment to bolstering Namibia’s position as a leading energy supplier in Africa.“Namibia is poised to become one of Africa’s leading energy suppliers, and these operations significantly enhance our ability to support their goals,” said Amerino Gatti, executive vice president of Oilfield Services & Equipment at Baker Hughes.BKR’s latest investment highlights its dedication to empowering Namibia’s energy ambitions while fostering local economic growth and sustainability.BKR’s Zacks Rank & Key PicksCurrently, Baker Hughes carries a Zacks Rank #3 (Hold).Investors interested in the energy sector may look at some better-ranked stocks like Smart Sand, Inc. SND, FuelCell Energy FCEL and Nine Energy Service NINE, each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, thereby reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position it for growth in the long run.Must-See: Solar Stocks Poised to SkyrocketThe solar industry stands to bounce back as tech companies and the economy transition away from fossil fuels to power the AI boom.Trillions of dollars will be invested in clean energy over the coming years – and analysts predict solar will account for 80% of the renewable energy expansion. This creates an outsized opportunity to profit in the near-term and for years to come. But you have to pick the right stocks to get into.Discover Zacks’ hottest solar stock recommendation FREE.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report Baker Hughes Company (BKR): Free Stock Analysis Report Smart Sand (SND): Free Stock Analysis Report Nine Energy Service, Inc. (NINE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
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