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
