US oil services group SLB expands in Russia as competitors withdraw
4 Articles
4 Articles
SLB, the world's largest oil services company, is still active in Russia, while most Western competitors have withdrawn from the country since the war in Ukraine, reports the British business newspaper Financial Times. According to the newspaper, the Houston-based company, formerly known as Schlumberger, has even expanded its activities in Russia with new contracts and hired hundreds of employees despite Western sanctions against Moscow.
Oilfield Services Giant SLB Expands in Russia Despite Sanctions
Oilfield services giant SLB, formerly Schlumberger, is still operating in Russia and expanding its operations there in the absence of its biggest competitors. This is according to a Financial Times report that cites filings made by the company that show it has been importing equipment into Russia, hiring new employees, and signing new contracts. Last year, SLB said it would stop delivering “products and technology into Russia” although unlike it…
The world's largest oil service company, SLB (formerly Schlumberger), continues to expand its operations in Russia after its main Western competitors left the market in response to a full-scale invasion of Ukraine.
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