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Schlumberger CEO Paal Kibsgaard pessimistic on underlying industry performance
During the second quarter conference call for the world’s largest oilfield service provider, Schlumberger (ticker: SLB) CEO Paal Kibsgaard said that oil markets had found bottom, but that the road to recovery could be long and daunting.

Problems remain within the industry, Kibsgaard said, and the downturn has not created long-term change to fix them.

“For some time, there has been a growing shortfall of both profits and cash flow from many oil producers around...

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