SLB expects flat quarterly revenue, profit amid weaker activity in Saudi Arabia, Latin America
June 24 (Reuters) - Oilfield services company SLB SLB.N expects second-quarter revenue and core profit to be about the same as the previous quarter due to weaker drilling activity in Saudi Arabia and Latin America, CEO Olivier Le Peuch said on Tuesday.
The CEO, speaking at the J.P. Morgan Energy, Power & Renewables Conference in New York, said activity in Saudi had declined more than expected, with several rigs demobilized and operations paused at the Jafurah unconventional gas field.
Short-cycle work in Latin America was also down, contributing to a less favorable geographic activity mix, impacting margins, the company said.
Oil prices fell about 5% to a two-week low on Tuesday on expectations the ceasefire between Israel and Iran will reduce the risk of oil supply disruptions in the Middle East.
"Barring any impact to activity in the Persian Gulf from the conflict, we still expect second-quarter revenue to be flattish sequentially," Le Peuch said.
SLB's plan to return at least $4 billion to shareholders in 2025 remains unchanged.
Related Articles
Circle’s Next Chapter: Not Just Stablecoins, But a Payments Network
TradingKey - Stablecoins are meeting real-world demand, especially in emerging markets where payment systems are oftenfragmented, access to the traditional banking system is limited, or capital controls restrict seamless global flows.
What is BNB? Can CZ's Return to Binance Propel It to $2700?
It’s also worth noting that 2028 marks Bitcoin’s fifth halving — a historically bullish catalyst. If past cycles repeat, BNB could ride the wave to new highs. Considering macroeconomic trends, supply dynamics, CZ’s potential return, and the next bull market, Standard Chartered’s target seems increas
What Is Worldcoin? Why Did WLD Surge Suddenly, and What’s Next?
Worldcoin is evolving from a “hype token” into a foundational layer for global identity. Its fusion of biometrics, blockchain, and financial inclusion has earned growing recognition from users and institutions. If it can overcome technical hurdles, launch real-world payment use cases, and stabilize
Bitcoin Price Forecast: Trends and Investment Outlook from 2025 to 2030
From $0.01 in 2009 to $120,000+ in 2025, Bitcoin has evolved from obscurity to a globally recognized financial asset. While institutions and governments increasingly embrace it, investors must remain vigilant against volatility, security risks, and scams.
