What explains the sharp variance in Schlumberger's tax expenses year-over-year?

Schlumberger's tax expenses have not been disclosed for the past two years, which makes it challenging to analyze the variance in tax expenses year-over-year. However, we can explore the factors that might influence the company's tax obligations:

1. **Global Operations**: Schlumberger is a global oilfield services company with operations in over 100 countries. The tax regime in each country can vary significantly, and the company's tax expenses are likely to be influenced by the tax rates and regulations in these jurisdictions.
2. **Oil and Gas Industry Dynamics**: The oil and gas industry is subject to volatile commodity prices, which can impact the company's tax expenses. Lower oil prices can lead to reduced exploration and production activities, resulting in lower tax expenses related to income and profits.
3. **Earnings and Revenue Trends**: Schlumberger's tax expenses are typically influenced by its earnings and revenue. The company's recent earnings report anticipates a rise in EPS and revenue compared to the same quarter of the previous year. This could indicate that the company's tax expenses may increase if its profit before tax rises.
4. **Tax Planning Strategies**: Companies often employ tax planning strategies to minimize their tax liabilities. Schlumberger's tax planning efforts could result in lower tax expenses despite higher earnings if the company takes advantage of tax incentives, deductions, or credits available in various jurisdictions.

In conclusion, Schlumberger's tax expenses are influenced by a combination of factors, including its global operations, the dynamics of the oil and gas industry, its earnings and revenue trends, and its tax planning strategies. Without specific data on tax expenses, it is challenging to pinpoint the exact reasons for the variance year-over-year.