SLB Ltd. suspended some Middle East operations amid the U.S. and Israel’s war with Iran.
HOUSTON — Houston-based oil field services giant SLB Ltd. (NYSE: SLB) is suspending activities in parts of the Middle East amid the U.S. and Israel’s war with Iran.
SLB said in a March 11 news release that it has “begun to demobilize operations in a few countries in response to customer actions to safeguard personnel and facilities.” Meanwhile, it has activated local and regional crisis response teams that are meeting daily while travel to and transit through the region have been suspended.
The company has operations across the Middle East and around the Persian Gulf, with offices in Oman, the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Kuwait.
With the suspension of certain operations, SLB expects lower revenue and additional costs in the first quarter, resulting in a 6-to-9-cent impact on earnings per diluted share. In the fourth quarter, SLB reported earnings per diluted share of 78 cents, excluding charges and credits.
Continue reading this story on the Houston Business Journal’s website.
This story came to us through our partnership with the Houston Business Journal. Keep up with the latest Houston business headlines here.
Got a news tip or story idea? Email us at newstips@khou.com and include the best way to reach you.