Oil Daily | SLB Earnings Drop Amid Upstream Uncertainties; Halliburton, Baker Hughes Share Concerns
Saturday, Apr 26, 2025 8:01 am ET
【Industry News】
The world’s largest oilfield services provider, slb, reports first-quarter earnings of $0.72 per share, marking a 4% decrease from the previous year and a 22% drop compared to the fourth quarter of 2024. SLB warns of uncertainties in upstream investment due to economic slowdown, fluctuating oil prices, and tariff impacts. halliburton and baker hughes also voice concerns over macroeconomic and trade policy uncertainties affecting drilling plans.
【Latest Oil Policies】
The Trump Administration urges the International Energy Agency (IEA) to prioritize energy security and fossil fuel supply over renewable energy. The U.S. stance frustrates European officials who support clean energy transition. The IEA's mixed messages on upstream investment have drawn criticism from OPEC, highlighting the agency's inconsistent focus on energy realities.
【Others】
India considers allowing foreign companies to own up to a 49% stake in nuclear power plants, aiming to boost nuclear power generation as part of a long-term energy strategy. India targets 100 GW of nuclear capacity by 2047 and plans to amend liability laws to attract foreign investment, especially from U.S. companies. ntpc plans significant investment in nuclear capacity.
【Oil-Producing Countries Dynamics】
Iraq explores restoring an oil pipeline through Syria to Mediterranean ports. Discussions include counterterrorism cooperation and securing shared borders. Following Syria's energy crisis post-Assad, oil flows from Kurdish-controlled regions to Damascus have resumed, marking a move toward reconciliation and stability.
【Others】
Canadian consumer interest in electric vehicles (EVs) declines, with only 42% considering an EV as their next vehicle, down from 68% in 2022. The phase-out of federal incentives and insufficient charging infrastructure deter buyers despite lower EV prices. EV sales in Canada are projected to decrease in 2025 due to reduced incentives and other challenges.
The world’s largest oilfield services provider, slb, reports first-quarter earnings of $0.72 per share, marking a 4% decrease from the previous year and a 22% drop compared to the fourth quarter of 2024. SLB warns of uncertainties in upstream investment due to economic slowdown, fluctuating oil prices, and tariff impacts. halliburton and baker hughes also voice concerns over macroeconomic and trade policy uncertainties affecting drilling plans.
【Latest Oil Policies】
The Trump Administration urges the International Energy Agency (IEA) to prioritize energy security and fossil fuel supply over renewable energy. The U.S. stance frustrates European officials who support clean energy transition. The IEA's mixed messages on upstream investment have drawn criticism from OPEC, highlighting the agency's inconsistent focus on energy realities.
【Others】
India considers allowing foreign companies to own up to a 49% stake in nuclear power plants, aiming to boost nuclear power generation as part of a long-term energy strategy. India targets 100 GW of nuclear capacity by 2047 and plans to amend liability laws to attract foreign investment, especially from U.S. companies. ntpc plans significant investment in nuclear capacity.
【Oil-Producing Countries Dynamics】
Iraq explores restoring an oil pipeline through Syria to Mediterranean ports. Discussions include counterterrorism cooperation and securing shared borders. Following Syria's energy crisis post-Assad, oil flows from Kurdish-controlled regions to Damascus have resumed, marking a move toward reconciliation and stability.
【Others】
Canadian consumer interest in electric vehicles (EVs) declines, with only 42% considering an EV as their next vehicle, down from 68% in 2022. The phase-out of federal incentives and insufficient charging infrastructure deter buyers despite lower EV prices. EV sales in Canada are projected to decrease in 2025 due to reduced incentives and other challenges.