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GE steps up oil and gas game with services provisions

As oil and gas companies have stepped up their spending on major oil and gas projects in recent years, GE, one of the world's largest conglomerates, has carved out an increasingly prominent role providing the equipment and services for some of the industry's most ambitious ventures

GE Oil & Gas booked revenues of $15.2 billion in 2012, as it prepares for its first year as a standalone business. The business has grown rapidly in the past 10 years, boosted by in-house technology development and around 30 acquisitions of specialist technology and engineering companies. It now competes on a scale with sector heavyweights such as Baker Hughes, National Oilwell Varco and FMC Technologies. "We are looking across the sector at all forms of upstream all the way down to midstream and downstream and even into demand generation," GE Oil & Gas' chief executive Dan Heintzelman told Petroleum Economist in an interview at the company's annual meeting in Florence, Italy. While

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