SLB announced the cessation of supplies to Russia due to sanctions
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The American oilfield services company SLB (former Schlumberger) announced the termination of the supply of products and technologies to Russia, says in a press release on the company’s website.
“Today, SLB announced the cessation of the supply of products and technologies to Russia from all SLB enterprises around the world in response to the ongoing expansion of international sanctions. This follows SLB’s previous ban on shipments from the US, UK, European Union and Canada to Russia.
The company added that it takes export control laws and economic sanctions very seriously and devotes “significant resources” to comply with international law.
After the start of a special operation in Ukraine in February 2022, SLB and a number of other foreign oilfield services companies announced the suspension of investments in Russia. In January 2023, Reuters announced that SLB was expanding its activities in the Russian Federation due to the departure of competitors. In May 2023, according to agency, SLB has made a number of operational and structural changes to its business in Russia to keep it going amid tightening sanctions. In particular, the company banned its employees in the Russian Federation from accessing certain software, messaging systems and data stored in the US and the UK.
The revenue of oilfield service companies in Russia in 2022 reached a record level since at least 2018 (latest available data) and amounted to 1.79 trillion rubles, Vedomosti wrote in June, citing Kasatkin Consulting survey data (ex-Deloitte team in Russia).
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