Schlumberger (#SLB) Stock Price, Live Chart & Analysis | Trade #SLB

Interesting facts about the #SLB (Schlumberger)

Schlumberger was founded by the pioneers in electrical mineral exploration, Conrad and Marcel Schlumberger. The brothers conducted many experiments on the faults of the mountains. The first success came in Serbia before the First World War. Later, the brothers were engaged in the exploration of oil fields in Romania and France. However, Schlumberger's experiments in the US and Venezuela ended in failure. As a result, all American companies refused to cooperate with them. The brothers managed to return to the American market only in the 1930s.

Schlumberger regularly made acquisitions. In 1959, it bought the drilling company Forages et Exploitations Pétrolières. In the 1960s, Schlumberger acquired several electronics manufacturers, including the Daystrom Corporation. In 1966, the electronics sector accounted for over 40% of Schlumberger's turnover. Acquisitions tend to drive up the stock price. However, such frequent purchases affected the company's economy. In 1986, Schlumberger reported a loss of $ 1.6 billion. As a result, the company had to sell non-core assets and increase investment in new technologies. Such news negatively impacts the share price.

Schlumberger has an interesting structure. The company is officially listed on the American and English stock exchanges. It has headquarters in London, Paris, The Hague, and Houston but is incorporated in the offshore zone of Curacao. Thus, the company can work directly with Iranian and Sudanese companies that are under US sanctions.

In 2015, Schlumberger was fined $233 million, the largest corporate fine ever. The company was found guilty of conducting business with Iranian and Sudanese companies. Usually, such news leads to a fall in shares price. However, on the day of the judgment, the #SLB price rose by 2%. The fine was very small compared to the profit since the business in Iran brought in $208 million in 2012.