Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

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SLB (formerly Schlumberger) is the largest oilfield services company.

Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

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Top 100 largest companies in Russia by revenue

Top 100
Revenue(RF), mln.USD
1062
Assets(RF), mln.USD
1221
Capital(RF), mln.USD
719
Glob.Revenue, mln.USD
33135
Staff(RF), 2021
3929
Taxes(RF), mln.USD
44

The world’s biggest oilfield services company has no plans to exit Russia two years after Moscow’s full-scale invasion of Ukraine, despite western pressure to curb the flow of petrodollars to the Kremlin’s war machine. Olivier Le Peuch, chief executive of SLB, told the Financial Times the company had taken no decision on whether to follow its two biggest rivals Baker Hughes and Halliburton in selling its Russia operations and is honouring its contracts with customers.

The Company Statement
July 14, 2023

Initially promised to suspend investment and technology deployment to its Russia operations. But the company increased its market share in Russia and is expanding. The National Agency for the Prevention of Corruption (NACP) has included the leading global oil company SLB (formerly Schlumberger), headquartered in the USA, on the list of international sponsors of the war. On July 14, 2023 SLB announced that it is halting shipments of products and technology into Russia from all SLB facilities worldwide in response to the continued expansion of international sanctions. SLB-based oilfield services provider SLB has said it has no current plans to end its operations in Russia despite the ongoing conflict with Ukraine and resulting Western pressure.

March 26, 2024SLB to maintain Russia presence amidst industry exits
March 25, 2024World’s largest oilfield services group has no plans to leave Russia
September 07, 2023Foreign Relations chair seeks answers from US oil firms on Russia business after Ukraine invasion
September 05, 2023Schlumberger Exports into Russia
July 18, 2023Top US firms supplied equipment to keep Russian oil flowing after Ukraine invasion
July 17, 2023Oilfield firm SLB halts all shipments to Russia - Hellenic Shipping News Worldwide
July 14, 2023Oilfield firm SLB halts all shipments to Russia - Reuters
July 14, 2023The largest oilfield services company has stopped deliveries to Russia
May 10, 2023Exclusive: Oilfield firm SLB retrenches as Russia sanctions squeeze
May 07, 2023World’s largest oilfield firm SLB included in the list of international war sponsors
May 06, 2023As oilfield service companies left Russia after Ukraine invasion, Houston's SLB stayed - and profited
April 27, 2023Letter sent by B4Ukraine to SLB (no response provided)
April 19, 2023SLB wins Russia business as oilfield rivals exit after Ukraine invasion
April 10, 2023SLB Isn’t Going Anywhere
April 07, 2023SLB (former Schlumberger) - International sponsor of war | War and sanctions
November 01, 2022Letter sent by B4Ukraine to Schlumberger (no response provided)
October 14, 2022Schlumberger faces employee backlash in Russia over draft cooperation
March 18, 2022Schlumberger Announces Update on Russia Operations
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Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
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