Ernest's Feed
Mar 24, 2014
Mar 24, 2014
Mar 24, 2014

Schlumberger expects Q1 earnings to jump from last year

NEW ORLEANS (Reuters) – Schlumberger Ltd (SLB.N: Quote, Profile, Research, Stock Buzz), the world’s largest oilfield services company, said on Monday it expects first-quarter earnings to be much higher than in the same period last year, as it takes market share from rivals and cuts costs.

Much of the growth will come from state-owned and independent energy companies that are spending to develop shale and other resources around the world, rather than multinational energy companies, most of whom are cutting spending, Schlumberger Chief Executive Paal Kibsgaard said at an energy conference in New Orleans.

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