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Tag Archives: Schlumberger

Drilling cutbacks drag down job growth in oil patch

WASHINGTON— Hammered by cheaper oil, drilling firms have laid off workers and dragged job growth lower in states from Texas to North Dakota. In Oklahoma, mining and logging jobs, which mostly include oil and gas drilling, fell for the fifth straight month in April. Texas lost 8,300 jobs in the sector, the most in six years, while Wyoming lost jobs ...

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BP names former UK MI6 spy chief as director

LONDON – BP has appointed Britain’s former MI6 spy chief and veteran diplomat John Sawers as a non-executive board member in a development highlighting long running links between the British establishment and the oil major. The appointment comes only weeks after the cabinet issued a warning saying it would oppose any potential takeover of BP as it wants the company ...

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Baker Hughes expects falling rig count to weigh on 2nd qtr

Baker Hughes Inc, which is being bought by Halliburton Co for $35 billion, said it expects “unfavorable market conditions” to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services. The comments echoed larger rival Halliburton’s warning on Monday of pricing pressure hurting oilfield services in North America and challenges in international operations. ...

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Schlumberger impresses with cost cuts, resilient margins

Schlumberger Ltd, the world’s No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. Schlumberger shares rose as much as 3.3 percent to a near-five-month high of $94.89 on Friday, a day after the company reported a profit well ahead of analysts’ expectations despite ...

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Schlumberger announces further job cuts, cost reductions


The world’s largest oilfield services provider, Schlumberger Ltd., reported its lowest first-quarter profit within four years and subsequent additional job cuts, according to Bloomberg news. The profit decline and job cuts are a result of the company’s customers cutting costs and the drastic reduction in overall spending due to current market prices and drilling slowdown. In a statement made by ...

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Schlumberger Ltd. to pay $232M in sanctions violations case

WASHINGTON — The world’s largest oil services company, Schlumberger Ltd., has agreed to a penalty of more than $232 million and one of its subsidiaries will plead guilty to trade sanctions violations, the Justice Department announced Wednesday. The criminal case against Schlumberger Oilfield Holdings Ltd. resolves a yearslong investigation into allegations that the wholly owned subsidiary had illegally conducted business ...

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Jury: Schlumberger should allow veteran’s service dog

Hero Dogs Rosie

A jury ruled Monday that Schlumberger should have allowed its employee, a U.S. Marine Corps veteran, to bring his golden retriever-pit bull mix to work. Juan Alonzo-Miranda requested he be allowed to bring his dog, Goldie, to work May 8, 2012. Although the company gave him permission Dec. 3, 2012, they wouldn’t let him go through the front door, said ...

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