Global Demand Lifts Schlumberger Profits

© Igor Golovnev / Adobe Stock
© Igor Golovnev / Adobe Stock

Schlumberger NV reported a 9.4% rise in adjusted quarterly profit on Friday, as buoyant demand in international markets helped the world's largest oilfield services provider make up for lower drilling activity in North America.

Net income fell to $333 million, or 24 cents per share, in the fourth quarter ended Dec. 31, from $538 million, or 39 cents per share, a year earlier.

The year-ago quarter included a gain from an asset sale.

Excluding charges and credits, net income rose to $545 million, or 39 cents per share, from $498 million, or 36 cents per share.


(Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

Current News

Woodside Revenue Falls on Lower LNG, Oil Prices

Woodside Revenue Falls on Lowe

ABL Gets Neptun Deep Job for OMV Petrom in Black Sea

ABL Gets Neptun Deep Job for O

Petrobras and China’s CNCEC to Collaborate on Oil and Gas, Renewables

Petrobras and China’s CNCEC to

Norway Clears TGS and PGS Merger

Norway Clears TGS and PGS Merg

Subscribe for OE Digital E‑News

Offshore Engineer Magazine