Oilfield services giant Schlumberger reported pre-tax profits of $638 million for the first quarter of 2022, as it hailed “one of the strongest outlooks for the energy services industry in recent times.”
Olivier Le Peuch
Reporting its Q4 and full-year results for 2021, oilfield services provider Schlumberger said it had closed the year with “great momentum.”
Schlumberger (NYSE: SLB) enjoyed a boost to profits in the third quarter as the oilfield services giant plans to “close 2021 with strong momentum”.
Schlumberger turned a profit in the second quarter as drilling activity continued to rebound from the pandemic-driven oil bust.
Egypt has launched its first bid round of 2021 and a new digital platform collaboration, with Schlumberger.
Schlumberger’s chief executive has described 2020 as “an exceptional year of operational resilience” with the firm posting pre-tax losses of $11.2 billion (£8.3bn).
Schlumberger has completed its plan to cut 21,000 jobs in response to the oil downturn, according to its latest accounts.
Schlumberger, the largest oil field service company, said Friday it lost $7.4 billion in the first quarter. Then its CEO said the second quarter will be worse.
Schlumbergers chief financial officer has announced plans to step down following the company's £9.3billion pre-tax loss in October.
Heavy impairment charges led Schlumberger to a loss of £9.3billion before tax in its third quarter results.
Oilfield services giant Schlumberger has appointed a former North Sea boss as its new chief executive.