SLB Profit Drops Amid Middle East Conflict Disruptions
The oilfield services provider reported a first-quarter net income of 752 million dollars as regional instability and infrastructure attacks reduced drilling demand. Revenue from the Middle East and Asia fell 10 percent during the period.
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The global oilfield services leader SLB LTD reported a decline in first-quarter earnings on Friday, primarily attributed to operational disruptions caused by the ongoing conflict involving Iran. The news sent the company's shares down 3% in pre-market trading as investors reacted to the geopolitical headwinds affecting the industry's largest market.
