Oil demand was at the beginning of a multi–year growth cycle and will reach pre–pandemic levels by 2022–end, top oilfield service provider Schlumberger's chief executive Olivier Le Peuch said on Friday, a quicker recovery than the one he predicted just three months ago. (...)
“I believe we are seeing the beginning of this multiyear growth,” Le Peuch said, offering relief to investors
(excerpt from a Reuters article )
Any toughts?
https://www.reuters.com/business/environment/radical-change-needed-reach-net-zero-emissions-iea-2021-05-18/
Very quick on power point
There was no recovery before the plague, in fact there was a huge decline. There is no reason why the pre-covid decline should not continue. Schlumberger are legendary at getting the economic situation completely wrong. Buckle up and get loan-free as soon as possible, the ride will be bumpy
buckle those seatbelts guys...
Where is the Pay increase before and after. None for 6 years now in Florence
It’s sad to see a new SPM spun up in the form of “New Energy”, rather than a focus on their core business. It’s sad to hear the marketing spiel of “we can help find your data with digital”, SLB used to find new hydrocarbon reserves. It’s sad to see a recovery being touted on the back of 30K+ employees let go. Seemed to be a good company many moons ago, too bad.
Oliver is a lying piece of sh–t
Lol– wishful thinking
Will they sell off at the bottom of the market and buy back in at the top?
M&A seem to be unable to time any up/ down cycle, the write down confirm the results.
Return to/from what? Poor comparables
Finally SLB's results appear to be better than HAL. Selling assets to Liberty Oilfeld was a bold move.
There will be a rebound effect where people make up for lost holidays and could easily see oil demand surge with that.
Fingers crossed for all long–suffering OFS employees