and failed bond principal payments. Waves of job and budget cuts in the energy sector are following, such as the Schlumberger ( SLB ) decision last week to ax 9,000 workers . The energy sector and energy-related activity has been one of the
programs and other government activities. Indeed, the Russian ruble has already taken a big tumbler. Meanwhile, BP, Schlumberger , Apache, as well as merger partners Baker Hughes and Halliburton, are among several oil companies cutting back on production
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mature fields. Its proposed merger with Baker Hughes will cement its place as number two in the industry, rivaling Schlumberger SLB in breadth and depth of services offerings. Halliburton is the 800-pound gorilla in the North American unconventional
12% of its workforce, largely in the first quarter in an attempt to match cost structures to revenue declines. As with Schlumberger ’s layoff plans, we applaud the aggressive moves to cut costs even as we acknowledge the human dislocations caused by
announced they would be laying off workers in huge numbers. Schlumberger , the world’s largest oilfield-services company, will reportedly be letting go of 9,000 of its workers, or ..... EOG Resources, Inc. 2.13%; Ford Motor Co. 0.00%; Schlumberger Ltd. 0.00%; Suncor Energy, Inc. 2.13%. Standard
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commodity prices? Retail sales fell. The home builders [ KBN, LEN ] fell. BHI announced 15% drop in its drilling rig count; SLB announced layoff of 9,000 employees; jobless claims in TX popped up. Pg 11: Laing – Some technical factors are pointed
Jan 16 (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, said the oil price drop was likely to have a "significantly more dramatic" impact on North America than on the rest of the world.
Jan 16 (Reuters) - Schlumberger Ltd, the world's No.1 oilfield services provider, said the drop in oil prices was likely to have a bigger impact on activity and pricing in North America than in international markets, which is its stronghold.