Does Schlumberger have a future?

Long-term trends including higher energy prices and pent-up demand for oilfield services will benefit Schlumberger. The company intends to increase margins from 22.2% to 25.0% by the end of 2023. Schlumberger’s digital division is a major growth driver.

Why are oilfield workers getting laid off?

The report comes as oil and gas companies are laying off thousands of employees in the face of low oil prices and a weakening outlook for fossil fuel demand amid increasing climate change actions.

How many oil workers were laid off?

Oil and gas firms have cut jobs to survive what is expected to be a long stretch of weak demand. Rystad Energy consultancy said in October more than 400,000 industry jobs had been cut up to that point of 2020, half of them in the United States, where there is a heavy focus on costly shale oil output.

Does Schlumberger do fracking?

In the second quarter of 2020 Schlumberger’s fracking unit was hit with an enormous 40% drop in revenue.

What is the highest paying oilfield job?

Top Paying Oil & Gas Jobs

  • #7 Mechanical Engineer $127,828.
  • #6 Geophysicist $128,965.
  • #5 Drilling Engineer $129,944.
  • #4 Reservoir Engineer $137,156.
  • #3 Construction Manager $145,000.
  • #2 Drilling Supervisor $148,476.
  • #1 Project Manager $157,795.
  • More Top Reads From Oilprice.com:

Will working in the oil fields become obsolete?

Production is still projected to reach 12 million barrels a day in 2022, a near all-time high. Oil and gas companies are currently sitting on 23 million acres of unused federal leases, an area roughly the size of Indiana. That’s enough to last the industry another 10 years, by one estimate.

What oil companies are laying off?

Massive layoffs at nation’s largest oil company

  • OIL & GAS: Exxon Mobil plans to lay off an estimated 14,000 employees globally, about 15% of its workforce, due to the collapse in oil demand. (
  • ALSO:

Is the oil field coming back?

“U.S. production is coming back already, and it’s going to come back more in 2022,” Yergin said. The expected rebound comes after the pandemic caused the largest-ever drop in oil prices in the first few months of 2020.

Is Schlumberger a good company to work for?

Allows employees to grow and learn not just their jobs, but the whole company’s goals. It has less controversies compared to competitors.

https://www.youtube.com/watch?v=LJZbgc30A8s