Schlumberger Quarterly Profit Slides

Thursday, April 18, 2019
File image: Schlumberger

Top oilfield services provider Schlumberger NV reported a 19.8 percent fall in quarterly profit on Thursday, hit by weak demand for its equipment and services from oil producers under pressure to rein in spending.

Schlumberger said net income fell to $421 million, or 30 cents per share, in the three months ended March 31, from $525 million, or 38 cents per share, a year earlier.

Revenue rose to $7.88 billion from $7.83 billion.


(Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)

Categories: Engineering Hardware Technology Finance

Related Stories

ScottishPower, Oasis Marine Study Proves Feasibility of Offshore Charging

ScottishPower, Oasis Marine Study Proves Feasibility of Offshore Charging

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

OWC, Empire Engineering Secure Work on Scottish Offshore Wind Farms

OWC, Empire Engineering Secure Work on Scottish Offshore Wind Farms

Current News

Commodity Report: Meeting Oil Demand a Challenge if Israel Hits Iran Oil

Egypt Halts Fertilizer Production In Light of Israeli Gas Disruptions

Edda Wind Welcomes New CSOV to its Fleet

TotalEnergies’ Unit to Build Battery Storage Site in Japan to Help Balance Grid

Subscribe for OE Digital E‑News

Offshore Engineer Magazine