: :inin Kyiv (EET)

US Oil Giant Schlumberger Just Struck A $1.7 Billion Deal In Russia (RSX, SLB, USD, RUB)


US oil-services company Schlumberger just invested in Russia’s largest onshore drilling firm. Schlumberger, the world’s biggest oil-services company by market cap, announced on Tuesday that it agreed to acquire a minority stake in Russia’s Eurasia Drilling Company, the largest provider of onshore drilling services in Russia. Three things are immediately striking about the deal: This is an unusually loud investment by a US company in a Russian oil company following the sanctions imposed on Russia after the annexation of Crimea. The investment comes at a time when oil prices have plunged over the past few months. Schlumberger just last week …read more

Source: Business Insider

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