SLB Seeks Price Hikes Amid Iran Conflict Disruptions
The oilfield services giant reported a profit decline today due to Middle East logistics issues. SLB plans to recover rising costs from its customers.
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The global energy sector is grappling with significant supply chain disruptions following the outbreak of conflict between the United States and Israel against Iran. The effective closure of the Strait of Hormuz, a critical maritime chokepoint, has forced major oilfield service providers to navigate soaring logistics and raw material costs. SLB LTD announced on Friday that it is actively seeking to pass these increased expenses onto its customers to mitigate the financial impact of the regional instability.
