SLB, Baker Hughes see oil exploration spending rising as Iran war disrupts supply - Reuters
SLB, Baker Hughes see oil exploration spending rising as Iran war disrupts supply Reuters
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Notable Quotes
"There is a growing need for increased upstream investment to expand global production capacity and ensure we can meet rising demand."
— Lorenzo Simonelli , Executive
"Many countries will likely prioritize supply diversification and invest in exploration once the conflict subsides."
— Olivier Le Peuch , Executive
"We anticipate seasonal recoveries around the world and a resurgence of activity in the Middle East as the conflict winds down."
— James West , Academic
"There is a growing need for increased upstream investment to expand global production capacity and ensure we can meet rising demand."
— Lorenzo Simonelli , Executive
"Many countries will likely prioritize supply diversification and invest in exploration once the conflict subsides."
— Olivier Le Peuch , Executive
"Il existe un besoin croissant d'intensifier les investissements en amont pour accroître la capacité de production mondiale et garantir que nous puissions répondre à une demande en hausse."
— Lorenzo Simonelli , Executive
"De nombreux pays devraient donner la priorité à la diversification de l'offre et investir dans l'exploration une fois que le conflit s'apaisera."
— Olivier Le Peuch , Executive
"It was a challenging start to the year, marked by widespread disruptions in the Middle East."
— Olivier Le Peuch , Executive
"There is a growing need for increased upstream investment to expand global production capacity and ensure we can meet rising demand."
— Lorenzo Simonelli , Executive
"SLB expects oil prices to trade at higher levels after the war than before it."
— Olivier Le Peuch , Executive
"We anticipate seasonal recoveries around the world and a resurgence of activity in the Middle East as the conflict winds down."
— James West , Academic
"There is a growing need for increased upstream investment to expand global production capacity and ensure we can meet rising demand."
— Lorenzo Simonelli , Executive
"He expects increased investment in projects in North America and Latin America, including in deepwater offshore markets."
— Olivier Le Peuch , Executive
"We anticipate seasonal recoveries around the world and a resurgence of activity in the Middle East as the conflict winds down."
— James West , Academic
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<a href="https://news.google.com/rss/articles/CBMiyAFBVV95cUxOTEpmM2NKdXByaTdEU0VJT3BLTU1mTjdvQ0trRnhNdkdVZW1FLWhLQU43a0h2SUxkMXNqd2ptdEpCd0J0MVgySXlFOWRkUTBkTkxEZklraXlXT3FnWFJicHVsMi1BUk9rbkRsb0h6T1FrbEZ2eWF4My1aeTQ5VncwUkVHd2luLTFvQ0NNdmEwbFVsUVN2WTJLX2lPQkVfWU1hSGNKWnpuRXZQUzE0WVVfM1dENHJ2NUxBaERlRlJFU1RuSnRTeVRyVA?oc=5" target="_blank">SLB, Baker Hughes see oil exploration spending rising as Iran war disrupts supply</a> <font color="#6f6f6f">Reuters</font>
Top oilfield services companies SLB and Baker Hughes anticipate increased spending on oil exploration and production due to global supply disruptions caused by the Middle East conflict, particularly in North America.
SLB reported a decline in first-quarter profit as disruptions from the Iran war impacted demand for oilfield services in key oil-producing regions.
SLB and Baker Hughes expect higher spending on oil exploration and production due to tighter global supplies driven by the Middle East conflict, highlighting the need for investment, particularly in North America.
Les entreprises de services pétroliers SLB et Baker Hughes prévoient une augmentation des investissements dans l'exploration et la production de pétrole en raison des perturbations d'approvisionnement causées par le conflit au Moyen-Orient.
SLB and Baker Hughes expect higher spending on oil exploration and production due to tighter global supplies driven by the Middle East conflict, emphasizing the need for investment in North America.
SLB and Baker Hughes expect higher spending on oil exploration and production due to tighter global supplies driven by the Middle East conflict, highlighting the need for investment, particularly in North America.
SLB is seeking to recover higher costs from customers after the U.S.-Israeli war on Iran and the effective closure of the Strait of Hormuz disrupted global supply chains.
Baker Hughes CEO Lorenzo Simonelli anticipates a rebound in upstream investment in the second half of 2026 and into 2027, driven by a global push for energy security amid disruptions from the Iran war.
SLB reported a fall in first-quarter profit as disruptions from the Iran war hit demand for oilfield services in a key oil-producing region.
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