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SLB posts lower quarterly profit on weak Saudi, LatAm oil drilling
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SLB posts lower quarterly profit on weak Saudi, LatAm oil drilling
Jul 18, 2025 4:23 AM

July 18 (Reuters) - Top oilfield services company SLB

reported a lower profit for the second quarter on

Friday, as weaker drilling activity in Saudi Arabia and Latin

America dragged its international business.

SLB, the first of the Big Three U.S. oilfield services

provider to report quarterly results, had flagged weaker

drilling activity in Saudi Arabia and Latin America, with rigs

demobilized and short-cycle work slowing.

The pullback came as oil prices softened in second-quarter,

after OPEC+ began unwinding 2.17 million barrels per day of

voluntary cuts.

SLB said international revenue declined more than 8% in the

quarter to $6.85 billion, from $7.45 billion a year ago.

The firm's total revenue fell 6% to $8.55 billion.

SLB, formerly known as Schlumberger ( SLB ), said net attributable

income to company, stood at $1.01 billion, or 74 cents per

share, for the three months ended June 30, compared with $1.11

billion, or 77 cents per share, a year earlier.

(Reporting by Arunima Kumar and Vallari Srivastava in

Bengaluru; Editing by Sriraj Kalluvila)

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