(BOE Report)– U.S. oil company ConocoPhillips is laying off employees at its Canadian operations, according to three sources and a company memo reviewed by Reuters, as it moves to cut up to a quarter of its global workforce by next year. The memo did not specify how many layoffs would take place but said they would begin at the company’s Canadian
(Oil Price) – The world’s biggest oilfield services provider, SLB (NYSE: SLB), on Friday reported higher-than-expected earnings for the third quarter as revenue from its North American business jumped by 17% from the second quarter and by 14% from a year earlier. SLB booked adjusted earnings per share (EPS) of $0.69 for the third quarter, lower than the second quarter of 2025 and
(World Oil)– SLB, the world’s largest oil-services provider, sees resiliency in the industry and remains constructive about the second half of 2025 despite uncertainties in customer demand. “Despite pockets of activity adjustments in key markets, the industry has shown that it can operate through uncertainty without a significant drop in upstream spending,” SLB Chief Executive Officer Olivier Le Peuch said in a
(World Oil)– SLB has successfully completed its previously announced $7.8 billion acquisition of ChampionX. The announcement follows a period of regulatory delays amid competition concerns, with the final regulatory hurdle being cleared yesterday as UK’s Competition and Markets Authority approved the deal to move forward. The acquisition strengthens SLB’s leadership in the production and recovery space. The integration of ChampionX
(World Oil) – SLB has announced a strategic collaboration agreement with Cactus Drilling, the largest privately held land drilling contractor in the U.S., to expand the adoption of automated and autonomous drilling solutions. The collaboration aims to deliver optimized performance through enhanced operational efficiency and consistency in execution by scaling advanced digital solutions. Under the agreement, Cactus will build on its
(Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty, volatile oil prices and rising tariff risks. Shares of the company fell nearly 2% in premarket trading following results. SLB’s report rounds out
(BOE Report) – Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it said in an internal
(World Oil) – SLB has been awarded a series of major drilling contracts by Shell to support capital-efficient energy development across its deep- and ultra-deepwater assets in the UK North Sea, Trinidad and Tobago, the Gulf of Mexico and others. The projects, which will be delivered over a three-year timeframe, will combine SLB’s AI-enabled digital drilling capabilities with its expertise in
(World Oil) – SLB has announced the launch of Neuro™ autonomous geosteering, a tool designed to dynamically responds to subsurface complexities to drill more efficient, higher-performing wells, while reducing the carbon footprint of the drilling operations. Using AI, Neuro geosteering integrates and interprets complex real-time subsurface information to autonomously guide the drill bit through the most productive layer of the
(World Oil) – Saudi Aramco is moving closer to building a giant carbon capture and storage project at its main refining and chemicals hub at Jubail, on the kingdom’s Gulf coast. The oil producer signed a shareholders’ agreement with partners Linde Plc and SLB to develop the facility, which aims to capture and store 9 million tons of carbon dioxide
(World Oil) – SLB today announced the award of a contract by bp to its OneSubsea joint venture for a subsea boosting system in the greenfield development of the Kaskida project in the deepwater U.S. Gulf of Mexico. This award marks the latest milestone in the long-standing relationship between SLB OneSubsea and bp and is the first engineering, procurement and
(World Oil) – SLB announced an agreement to create Turnwell Industries LLC OPC (Turnwell), a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE’s unconventional oil and gas program,
