Schlumberger has reported fourth-quarter revenue of $8.2 billion, down 4% sequentially.
Schlumberger has reported fourth-quarter revenue of $8.2 billion, down 4% sequentially. North American revenue dropped 14% and international revenue grew 2%. Fourth-quarter cash flow from operations was $2.3 billion. Full-year revenue for 2019 was $32.9 billion, essentially flat year on year.
CEO Olivier Le Peuch said: ‘Most of our international geomarkets benefited from favourable market conditions, and almost half of them registered double-digit, year-on-year revenue growth driven by exploration activity, offshore operations, and acceleration of the industry’s digital transformation.
Reservoir Characterization revenue benefited from international market exposure. Sequential international growth was led by the Middle East & Asia area, where revenue increased 5% driven by higher year-end product sales in Kuwait, Iraq, and Oman. Latin America revenue grew 1% due to stronger WesternGeco multiclient seismic licence sales in the Mexico Bay of Campeche.
Equinor has reported Q4 2019 earnings of $3.55 billion and $1.19 billion after tax. Net operating income was $1.52 billion and the IFRS net income was negative -$0.23 billion after impairments of $1.41 billion.
Chevron has reported a loss of -$6.6 billion for the fourth quarter of 2019, compared with earnings of $3.7 billion in the fourth quarter 2018. Included in the current quarter were previously announced upstream impairments and write-offs totalling $10.4 billion. Full-year 2019 earnings were $2.9 billion compared with $14.8 billion in 2018.
