Schlumberger Limited is a leading global provider of technology and services for the oil and gas industry. The company's mission is to enhance the performance of its clients by delivering innovative solutions that optimize reservoir performance and improve operational efficiency. Schlumberger's strategy focuses on leveraging advanced technologies, digital transformation, and sustainable practices to meet the evolving needs of the energy sector. With a comprehensive portfolio of services, including drilling, production, and reservoir management, Schlumberger operates in over 120 countries, helping clients navigate the complexities of energy exploration and production while promoting environmental stewardship.

SCHLUMBERGER LIMITED

Schlumberger (SLB) is currently navigating a significant reorganization as part of its cost-saving initiatives, including the establishment of a new performance function and ongoing workforce reductions. This strategy comes amid cautious spending from customers resulting from an oversupplied oil market, putting pressure on oilfield service providers.

Schlumberger Reorganizes Amid Cost-Saving Measures, Reports Better-Than-Expected Profits Despite Oil Market Challenges

As Schlumberger embarks on a significant reorganization to enhance operational efficiency, it defies market challenges by reporting better-than-expected profits and raising dividends. Can this strategic pivot position them for sustained growth in an oversupplied oil market?