Schlumberger Rebrands to SLB in Pivot Toward Energy Transition

October 25, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Taking a page out of the books of companies such as Equinor (NYSE:EQNR) (Stavanger, Norway) (formerly Statoil) and TotalEnergies SE (NYSE:TTE) (Courbevoie, France) (formerly Total), oilfield services provider Schlumberger is now known as SLB (NYSE:SLB) (Houston, Texas, and Paris, France) in a nod toward its goal to delve deeper into digital services and clean-energy technologies.

The move comes only a weekend after the company on Friday reported its strongest quarterly profit since 2015, with net income of $907 million, compared with $550 million a year ago. Total revenue rose 28% to $7.48 billion. International revenue was up 26% from a year ago, while North American revenue was up 37%.