Company Of The Day: Schlumberger

-2.82%
Downside
32.73
Market
31.81
Trefis
SLB: Schlumberger logo
SLB
Schlumberger

What?

Oilfield services major Schlumberger (NYSE:SLB) has committed to achieving net-zero greenhouse gas emissions by 2050. The company’s Transition Technologies portfolio will assist its customers and the broader industry in their decarbonization commitments.

Why?

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The oil industry is getting more serious about reducing its carbon footprint, as governments set aggressive targets for reductions in greenhouse gas emissions.

So What?

Schlumberger stock has outperformed this year, rising by 50% since early January, driven by rising oil prices. The company’s move to eventually go green could also help the stock in the longer term, as oil and gas investors are becoming more conscious about the impact of their investments on climate change.

See Our Complete Analysis For Schlumberger

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