Schlumberger Takes Modest Hit on Mideast Turmoil

Schlumberger Ltd SLB, the world's largest oilfield services company, expects turmoil in the Middle East and Africa to knock 8 to 10 cents per share off first-quarter profit, Chief Executive Andrew Gould said on Monday. There were "significant" revenue disruptions in Egypt, Tunisia and Libya, Gould told the Howard Weil Energy Conference in New Orleans. Minor disruptions were felt in Ivory Coast, Yemen, Bahrain and Oman, and in Algeria due to logistics from Tunisia. "While activity has returned to normal in Egypt and Tunisia, we expect continued disruptions in Yemen, no short-term return of activity in Libya and uncertainty at the current time over activity in Continue reading the article.