BAKU, Azerbaijan, February 3. Baker Hughes’ geographic revenue distribution for the Oilfield Services & Equipment (OFSE) segment in Q4 2024 highlights robust performance in international markets, even as North America faced challenges, Trend reports.
According to the company's latest financial report, total geographic revenue was $3.871 billion, down 2% sequentially and year-over-year.
Regional performance
- North America: Revenue held steady at $971 million quarter-over-quarter but declined 5% year-over-year, reflecting muted activity levels in key basins.
- Latin America: Revenue grew modestly to $661 million, a 2% sequential increase but a 7% year-over-year decline.
- Europe/CIS/Sub-Saharan Africa: The region reported $740 million in revenue, a sharp 21% sequential drop but a 5% increase year-over-year, reflecting volatile regional activity.
- Middle East/Asia: Revenue reached $1.499 billion, a 6% sequential decline and a 2% year-over-year drop, influenced by fluctuations in project activity.
International markets accounted for $2.9 billion in revenue, showcasing resilience with only a 3% sequential decline and a marginal 1% year-over-year dip.
