The logo of SLB is seen in this undated handout image obtained by Reuters on October 19, 2022. SLB/Handout via REUTERS Jan 19 (Reuters) – Following Moscow’s invasion of Ukraine, world’s largest oilfield firm SLB (SLB.N) has boosted its business in Russia by cherry-picking service and equipment contracts from rivals who left, according to company documents and people familiar with its operations. While SLB’s continued embrace of Russia has drawn sharp criticism, interviews with two people close to the company and industry sources, as well company documents reviewed by Reuters show SLB’s decision to help Russia increase oil and gas production with its services and drilling equipment has paid off. For example, SLB’s Russia and Central Asia reservoir performance division in the third quarter of 2022 grew revenue by 25% over the prior quarter. That outpaced growth of 12% and 11% for its Asia and Middle East and North Africa regions, respectively, according to one of half a dozen documents viewed by Reuters. The company also expects to report record results for the fourth quarter for its Russian reservoir performance division, according to a separate presentation viewed by Reuters. SLB, which changed its name from Schlumberger last October, did […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
