SLB Says It’s Not Violating Sanctions While Remaining in Russia

SLB, the last of the major US oil field service giants to remain in Russia, said Friday it believes it’s already taken steps that keep it in compliance with the latest round of sanctions.

“We are reviewing the US sanctions, and at this point believe that our voluntary measures align with the new sanctions,” Chief Executive Officer Olivier Le Peuch told analysts and investors Friday on a conference call announcing fourth-quarter results. “We have taken voluntary measures to curtail our Russian activity including halting shipments of products and technology into Russia from all SLB facilities worldwide in 2023.”

It’s ...