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Markets News

Schlumberger posts third straight quarterly loss as oil rout hits services demand

Oct 16 (Reuters) - Top oilfield services provider Schlumberger NV on Friday posted its third straight quarterly loss as this year’s prolonged slump in oil prices due to the COVID-19 pandemic compelled its major energy customers to shun drilling.

The company reported a net loss of $82 million, or 6 cents per share, for the third quarter ended Sept. 30.

Schlumberger reported a net loss of $11.38 billion, or $8.22 per share, a year earlier, due to impairment charges on some of the company’s past investments. (Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

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