Schlumberger incurred its third consecutive quarterly loss, due to the continuous decline in oil prices due to the Corona pandemic.
According to Arabiya Net, the largest oilfield services company in the world announced a net loss of $ 82 million, or the equivalent of six cents per share, for the third quarter ending in September 30. Excluding provisions and credit, the company earned 16 cents a share in the quarter backed by deep cost cuts.
the company started announcements of business results from the severely affected US oilfield service provider sector as new lockdown measures are imposed in some parts of the world due to a new spike In casualties, demand for crude threatens to recover. International oil prices reached about 42.66 dollars a barrel this Friday morning.
North America has fared worse than the rest of the global services markets, with Schlumberger's revenue from the region falling to $ 1.16 billion from $ 2.85 billion a year ago. Total revenues tumbled 38% to $ 5.26 billion.
The company recorded $ 310 million in impairment provisions in the third quarter, adding to the more than $ 12 billion the company recorded in the previous two quarters.
