SLB has made several operational and structural changes to keep its Russian business in compliance with Western sanctions on oil equipment and technology transfers, as it aims to ride out efforts to curb Russia’s use of energy to finance its war efforts.
SLB, the world’s largest oil services and equipment provider, last year rejected calls from human rights groups to withdraw from Russia as Western rivals exited quickly after the invasion of Ukraine. While SLB wasn’t in breach of sanctions, the decision has triggered a backlash from employees and human rights groups.
