(Oil & Gas 360) – Publisher’s Note: SLB will be a panel presenter and will host one-on-one meetings at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-19, 2026. Register to attend.
(World Oil) – SLB reported higher second-quarter revenue as broad-based international growth, led by offshore activity, more than offset continued disruptions across the Middle East.
Second-quarter revenue increased 5% year over year to $8.97 billion, while net income attributable to SLB totaled $786 million. Adjusted EBITDA reached $1.90 billion, supported by higher offshore activity, stronger production systems demand and continued digital growth.
CEO Olivier Le Peuch said sequential growth outside the Middle East was driven by offshore developments in Latin America, Europe & Africa and Asia, along with a rebound in U.S. unconventionals and increasing demand for production and recovery technologies.
“Our second-quarter performance demonstrates that growth is broadening across geographies outside the Middle East,” Le Peuch said. “The regional conflict has heightened the industry’s focus on supply diversification, which is reinforcing the strategic importance of deepwater, exploration, and production and recovery activities.”
Production Systems revenue rose 7% sequentially, supported by increased subsea activity, artificial lift, surface production systems and production chemicals as operators continued investing in offshore developments and mature asset recovery. Digital revenue increased 9%, reflecting stronger demand for exploration software, digital operations and AI-enabled workflows.
Geographically, SLB reported strong sequential growth in Latin America, Europe & Africa, North America and Asia, offsetting a 13% revenue decline in the Middle East caused by ongoing conflict-related operational disruptions. Offshore drilling activity in Brazil, Guyana, Mexico, Nigeria and the North Sea contributed to the international gains.
Looking ahead, SLB said improving activity in the Middle East, continued momentum in offshore exploration and deepwater developments, growing demand for production technologies and continued expansion of its digital portfolio provide a solid foundation for growth heading into 2027.
