Schlumberger Takes Hit from Iraq Shutdown

By John Lee.

Patrick Schorn, Schlumberger's president of operations and integration, has said that the company expects the temporary shutdown of its operations in North Rumaila last month to reduce fourth-quarter profits about 2 percent.

Reuters quotes him as saying:

"With strong support from the authorities, we are almost back to normal activity levels at this stage, and expect to see continued strong growth for our business in Iraq next year."

Dozens of Shi'ite Muslims stormed the Schlumberger camp last month after accusing a foreign security adviser of insulting their religion.

(Source: Reuters)

(Profit image via Shutterstock)

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