Thread regarding Schlumberger Ltd. layoffs

Guess what summer is over in the middle east and other large hot regions hence they consume a lot less oil and gas so to announce a reduction in production is just normal. Therefore the amount of spare oil and gas on the market is the exact same. Sorry to pee on your bbq....my opinion this is no longer a downturn this is the way the industry will be forever more open market on market share. And SLB the gap is closing in from all directions BHI HAL WFD GE and then all the small competitors with fish market pricing.

The qualidy of our work speaks for itself.

You guys make me laugh I sense the bitterness in some of you I believe capitals indicates one as resorted to shouting.

Best part of this thread was when one guy was desperately trying to show everyone how clever and accomplished he was. He actually spelt the word "intelligent" with an "a".

THAT'S HOW MIND-NUMBINGLY IRRELEVANT THIS CAR CRASH OF A THREAD IS.

You are probably better with the cows cause they will not mind about your verborrhea floods.

Cut the intake of stuff you have been reading lately, stay hydrated and have some crackers.

If symptoms persist, please see a Vet.

Funny I grew up with Friesians, I loved them - dumb maybe but loving as well {Friesians in Europe Holsteins in the USA}, I loved those cows so gentle and if treated with respect loving as well. I remember waiting to go to school and they would run over to the hedge to greet me in the morning.

Moving on I agree with the post concerning profit when oil stock is no longer as profitable as renewables then we shall without doubt see a step change. As for greed this is one of the great motivators for mankind one of the main driving factors such an emotion as greed is a driver greater than love only power and prestige are stronger or equal to greed as a driver for human emotion. Most unfortunate but Greed, Power and Prestige and the oil industry are natural bed fellows natural lovers. So sad so disappointing for a species that can crack the atom see into darkest space, for a species that can paint Starry Night, write Hamlet and discover the concept of General Relativity that we base our decisions upon greed bloody greed such a base and cruel emotion. An emotion that promises much but disappoints many. Certainly an emotion most suited to our managers in SLB, all we worry about is the dividend our only responsibility is the dividend the dividend our false idol. The dividend the dividend will justify ruining 30,000 lives, dealing with the lowest of the low {Sudan} the dividend will justify everything we do we do not care if it is legal only we do not get caught and the dividend is happy. All praise the dividend.

Happy to have, not to have not

Big business is very wise

I'm crossing over into

E-enter-prize

I'm going over to the other side

I'm happy to have not to have not

Big business is very wise

I'm inside free enterprise

I'm adaptable and I like my new role

I'm getting better and better

And I have a new goal

I'm changing my ways where money applies

I have reformed I prey to my idol the dividend.

Well enough of my philosophy for now! !!! Have a good day

Going back to the cows in the tunnel and the light. We had Holsteins when I grew up. They were pretty dumb animals. I mean dumb, especially the bulls. I mean they cannot even reproduce by themselves.

They'll eat oil. That dumb.

Still not as dumb--snort, fraggle, zort on his tractor but pretty dumb. This company keeps hiring good and clever guys and turns them into some sort of Holstein subculture.

There are some good opinions here on both sides of the fence but, when put in the context of time, I agree with the OP. The step change will occur when investors decide that renewables stocks are the honey pot. Fossil fuel stocks are starting to reduce dividends. That will drive investors away to look for a better option. As for the price of oil being $40 or $120, all oil producing countries benefitted from $120 oil including the USA. What will end our civilzation is greed. Communism is not the answer either because it is just another face of greed of those at the top of the pyramid. I think I am paranoid but I do not believe that the oil price has ever been set by a few individuals. I believe it has been controlled by a large multinational group much larger than OPEC but using OPEC as the whipping post (with OPEC's agreement) allows the truth to be protected. If any one country could hold the world at ransom, it would not last long. Iraq wasn't a real threat to anyone but Cheney destroyed it anyway. He jst wanted contracts for KBR to ncrease his stock value.

Well well I will not go down the road of base insults to carry on with my main points so excuse me if I do not respond to redneck and such comments. But the summary of my points is this.

@Jo9y2MS-1kav

"let say we could get rid off fossil fuel now, tell me what are the consequences of that, do you even know how fossil fuel every aspects of modern life?"

True this is so true I am not so silly to think this will happen soon, much as to be done - investment, engineering, social and political change, however I am trying to point out a trend a direction in which the world is moving, a trend that I believe did start with the tree huggers but has now becoming mainstream what was once an idea supported by those considered eccentric has now become mainstream, that is we have a duty to care for our home and as such we have to move away from fossil fuels. We have to consider the planet and those we share it with. This trend will continue will develop and in step oil will decline. This when taking the long view I believe to be the biggest downward pressure on the value of oil.

My second point is that most of the main oil producers are not smart operators, they will fail to co-operate and rig the market as they did for the last 40 years OPEC has failed to maintain its Geo - Political hold on the world. As for the smart producers - USA and China low oil pricing does suit them it is an important but small part of their economies unlike any other main producer. Hence again a downward pressure on oil pricing.

The USA and China well they are both industrial economies unlike many of the other producers so for them cheap oil is good news. Neither do these two economies have a desire to be reliant upon such Nations as Russia, Iran, Saudi and Venezuela. Even SLB has pulled out of Venezuela.

The geo-politics of the world is in fact suppressing oil and its value those who depend upon it do not have the ability to reach an agreement and those that do not depend upon oil as a large part of their economy benefit from cheap oil. Finally the smart producers have both agreed and ratified the Paris agreement as regard climate change. Therefore Geo-Politics will keep the value of oil low.

My third point is that the progress of Shale and new tech within the oil industry as created a glut that in particular suits the biggest world economy the USA and the soon to be biggest China. This especially for the USA is good news, the increased production within North America has allowed the USA to become energy efficient at last - a goal they aimed for since the 70's.

Technology and the progress of Technology in both renewables / nuclear and oil production will suppress the price of oil.

My final and forth point is do not believe your CEO nor Manager when they tell you that the good times are around the corner - according to my managers we should have no more redundancies and the price of oil will recover sometime early 2016. This is was told in mid 2015, they are known to be either foolish or liars - take your pick. But to trust them is reckless to support that point I gave examples. Incidentally I did tell my managers that they were wrong but alas they as all SLB managers know best.

I only desire to make you guys think again about your life and career there is a life away from SLB perhaps it is time you should consider an alternative life. But what I say I really do believe, I am not a redneck I am however an individual with the ability to think for myself and to say what I believe . After much consideration the above are my conclusions.

A DFM jetting around the world to fix ridiculously outdated tools that existed 80 years ago and did not fundamentally progress. Man, thousands of people have lost their jobs and cannot get anything else because the knowledge and skill they earned during their wonderful careers are not applicable anywhere else. I guess one can use favoritism and back stabbing in prison, ok that's a skill for life. Oil is not gone yet but it's losing momentum. I dearly hope so for future of our children.

If one makes statements based on... yeah somebody else's thoughts then he's nothing more than another guy with an opinion. Cows walking through tunnels... Wow, that's heavy stuff!

How do you plug in a jumbo jet?

if al gore were alive today he would call this an inconvenient truth.

To: Jo9y2MS-1jeo

Thank you so much for your intelligent well though out mature reply. It reassures me that there is still intelligent life on this planet.

Don't be offended at the redneck and monkey name calling, I think it was directed at me. I got a good laugh at these peoples inmaturity. I think they missed a few lessons at home. One learns manners and respect in a redneck home. That's why some rednecks are missing teeth. Luckily I still have mine, I learn fast.

You certainly make a few good points about the horse verses the car analogy. The last time I researched electric automobiles the overall carbon footprint was far worse for electric cars than gasoline cars. Mostly because the batteries are ultimately charged with natural gas or coal power plants. This combined with power distribution losses causes the electric car to ultimately be far dirtier than my old gas guzzling pick up. (Kids - we call these types of thoughts intellegance)

I have limited time this evening so I am going to shift gears a bit and hopefully leave all the interested parties with a smile on their faces. OK, I was called a redneck. Yeah, I am except that I am highly educated and well read. No doubt opinioned, but my opinions are based on facts, not ignorance. I am the guy they (SLB) called to get on the next flight across the world to fix the mess you may have created. I am a manufacturing engineering expert so I do mechanical. electrical, and manufacturing work supporting R&D and manufacturing as well as supporting explosives manufacturing and many other things.

So, you can tell everyone the redneck passed on some farm wisdom. A: A cow is smart enough to get out of a tunnel that is open on both ends to get to greener pastures(stop whinning and leave SLB if you are not happy). The cow will not complain, just walk toward the light until he gets to greener pastures. B: Cows will always keep a watch out for predators and tighten up the heard to pretect themselves and the calves. They will even stomp/kill the coyotes when they need to. (ref Saudi Arabia for you stupid people). C: Any good redneck will shoot a troublesome coyote on sight to protect his herd(the herd would be your family and your society) - coyotes have learned to be careful - wolves are almost extinct. Wolves are thankfully coming back. I am a bit of a tree hugger too.

Its time for me to close, I have to install a new start button on my 25 year old tractor. There is no triple A or road side assiatance in the barn or out in the pasture. I will challenge you to look in the mirror and ask yourself if your smart enough and could actually find the problem with a 25 year old tractor and actually fix it yourself before you ever say another negative thing about a redneck. We created the world you enjoy along with many other good intelligent people with our sweat, hard work, cunning, intelligence, good values, and willingness to do the right thing no matter what the personal cost. We can teach you about good manners too. Did I mention I am a certified mechanic as well as a certified welder - I really don't have time or interst in Pokémon or other video games. I live life to the fullest every day. These video games are for you kids, I out grew them and started learning about engines, electrical things, construction, fishing and hunting in the real world when I was 10 years old. One more important point your mother forgot to teach you. A redneck will name call and insult you to your face rather like a real man rather than like the cowardly name calling here on this thread and the others I have read. That being said, bring me the rag head responsible for this trouble and I will be happy to show him what a good ole buy does with a coyote that threatens his herd. You kids need to be careful talking crap around a redneck, they don't back down. We call it doing the right thing and showing respect for others.

Thank you again Jo9y2MS-1jeo, you made my day. Hug your family for me, you must love them very much. You are obviously a wonderful person with a wonderful and strong heart.

Virtue stands in the middle...

But the greeders and Wall Street could not care less, with the hedge funders not getting out of bed for nothing less than massive profits.

The transition to renewables should be done gradually in order to avoid trauma.

The problem for environment, more than the fossil fuels, is our over-consumption of all sort of gadgets and animals and the exponential demographics in many parts of the world.

Unfortunately, short term speculators do not benefit from a smooth world, families do.

@Jo9y2MS-1jeo must be an idiot, laid off people have other thing to worry about than your broken, unsubstantiated arguments

@Jo9y2MS-1jeo let say we could get rid off fossil fuel now, tell me what are the consequences of that, do you even know how fossil fuel every aspects of modern life?

I drive a Tesla model S, cost 85K, and in 6-7 years I would pay 30K to replace the battery pack. I bet you couldn't even afford just one tire of my Tesla vehicle.

"As far as public opinion goes, how many of you drive electric cars and have solar panels installed on your houses." -----

That's a fine statement for right now, but what about 5yrs, 10 yrs or 15 years from now, And don't discount self driving cars. they are coming. You are all smart people get your head out of the sand. Think damnit. Times change. we advance.

Imagine what the cowboys, the horse and buggy drivers thought when they saw the first "automobiles" , the things s---ed, the contraptions were probably made fun of and laughed at because they required fuel at certain intervals. how could those things ever catch on, right ? now! - when's the last time you rode over to your "booboo's" house on a horse. Damn cars caught on didn't they. and they had a pretty long ride........

AND, there are two statements here, !

1. It is a dirty industry

2. with no regard for our planet nor its employees."

nobody said anything connected to walking away from oil or hugging a tree god damnit. but some get all offended when you bring the problem to light, and want to shove it out of sight.

both of those statements are true.!! So what is the problem with admitting it. !!! you got kids,? you worry about what they and your grandkids will be left by the choices you make today ? hmmmm? go ahead, stick your head in the sand and live for today. that's the same attitudes as the big oil companies. And since the best counter point you can come up with is to tell me to go FUCH Myself, i will save you the trouble, so there! now , go check on your cheese, i think somebody done gone and moved it.

Hi @Jo9y2MS-vmk

Please excuse the above typo

“self congratulating monkey, your mumbling is older than the oil itself” Your right about that one - I am somewhat pleased with myself that is true, however,monkeys do have quite a brain I take it your ancestors have not even managed to crawl out of the mud yet - yep I can do the insults as well.

Hi @Jo9y2MS-yyq

OK, now lets review. Saudi Arabia and OPEC has controlled oil prices as long as I have been alive.

True and I agree, your first point is true. This became apparent in the 70’s, and since that crisis the USA policy dictated that crude could not be exported and secondly that the USA will strive to become self sufficient in oil. With shale the USA can now export and be self sufficient in crude. This is also why so many developed countries do not want to rely upon oil. They wish to be interdependent of the oil producers, most producers are unstable and questionable regimes, this in its self is a motivation for energy independence.

I agree with your second point the world has been paying too much and OPEC has held the world to ransom for 40 years.

Your third point, that the Saudi’s supported terrorism in order to protect their own interests - well that is not uncommon for a government to support those that are less than desirable for their own ends. Or come to that even companies do so - does anyone remember Southern Egypt - whoops Sudan a corrupt despicable regime that SLB was more than happy to do business with. Many believe that Iraq was only invaded because of oil. The Saudi’s are not alone in that.

But your final point about the honesty and trust one can place in SLB is reckless. Very reckless indeed as the Justice Department discovered.

Oil services giant Schlumberger Ltd. was fined $232.7 million by the Justice Department Wednesday for violating sanctions on Iran and Sudan.

Fully owned subsidy Schlumberger Oilfield Holdings Ltd. admitted guilt to one count of "knowingly and willfully conspiring to violate" the US International Emergency Economic Powers Act, under which US sanctions are applied, the department said.

According to the charges, the company's Texas-based drilling and measurements unit provided services to Iran and Sudan between 2004 and 2010 and tried to hide the fact from authorities.

Or why have a survey it is obvious that SLB has many unhappy employees, a recent thread concerning Southampton accused the management of “Schlumberger management are experts at telling huge lies in fact they are exceptionally shameless about it.”

So at any level one can only conclude that SLB is only a money making machine and to trust it is reckless.

However the point of the thread was really to point out that in my opinion { and it is only an opinion } that the days of oil are numbered.

The USA and China have ratified the Paris Agreement concerning climate change, the UK is building a new nuclear plant because the UK is concerned how it will meet emission targets, why are these governments doing this? - because the world as a wish and desire to change and a need to change. That is why I believe oil will remain low, technology in renewables, nuclear and shale production will keep the price down.

Plus OPEC and the main producers {except the USA} are not able to come to some agreement concerning production caps.

However I thank you for your response a considered response that I do not totally agree with but debate is shallow if we all agree.

As for @Jo9y2MS-xly naturally I do know about the petrochemical industry and all of the products that originate from the industry.

Hi @Jo9y2MS-vmk

“self congratulating monkey, your mumbling is older than the oil itself” Your right about that one - monkeys do have quite a brain I take it your ancestors have not even managed to cruel out of the mud yet - yep I can do the insults as well.

How can the reality be so distorted in order to fit another US fiction, by a redneck in his mid 50s?

That glorious generation responsible for the mess we live today.

Please retire once for all for God sake and go play pokemon with the Mother Frackers who had flooded the market with massive oil production.

Fossil fuels receive way more subsidies and tax breaks than renewables do.

self congratulating monkey, your mumbling is older than the oil itself

You all fail to see the big picture. Renewables cannot survive without government subsidies. As far as public opinion goes, how many of you drive electric cars and have solar panels installed on your houses.

OK, now lets review. Saudi Arabia and OPEC has controlled oil prices as long as I have been alive. They are to blame for this once again. The market was fine with new sources of oil like shale until Saudi Arabia started flooding the market with excess supply in fear of loosing market share, therefore crashing the industry once more using unfair monopoly control tactics. Let me cause you to think once more, if oil is only worth $45-50 a barrel then why have we been paying $80-150 a barrel for so many years for it. If it can be produced profitable at these lower prices then the world has obviously been paying too much for it for many years thanks to middle east price controls so that the Saudis can have a relaxed society paid for by us from the money the world pays for over priced oil. They live well and have no other resources to sell to the world. It is now also coming to light that they have supported terrorism to disrupt oil production of their oil producing partners in the middle east and this sickness has now propagated through out the world. How much oil does the US burn when we turn on the war machine. Any war uses lots of petroleum! I wonder what the total death count really is combined with all of the lives lost from terrorism from the bad seeds Saudi Arabia is just admitting to planting. I am not prejudice, I just read a lot now that I have time.

So what is next? Come on, do some reading and educate yourselves. Saudi Arabia can no longer control the price of oil since we have found so many competitive sources so now they are buying up as many refineries as they can. Read and research this, the data is there and they have made it clear that they are diversifying into other businesses. Remember I said earlier that they have nothing in their country to offer the world except oil. So over time Saudi Arabia will buy up as many refineries as they can and then they will be able to once again hold us hostage to pay what ever they ask for their energy. They will have the oil fields and the refineries to hold us hostage. Non middle eastern producers can then be easily controlled because they will be forced to sell their product to middle eastern owned refineries or not sell it at all and go out of business. There are no laws in place that tell a business where they must buy their raw material from so fairly soon we could be producing no oil in this country and only using oil from the middle east because the middle east owned refineries only buy from middle east producers. This is how the Saudi Arabia and OPEC will get us back under the control of their monopolies. Read, Read, Read and use you brain to carefully analyze this.

Don't be too mad at Schlumberger. It was once a very good company to work for and I am thankful for the 10+ years I enjoyed working there. Read and learn who your enemies really are by looking at the big picture. SLB is just trying to survive in this cascade down turn caused by the middle east dumping oil on the market at half the cost it was a year ago. This down turn is completely driven by greed and power for world domination by Saudi Arabia and OPEC. Thanks rag heads for turning my world upside down once again. This is the third time in my life Saudi Arabia and OPEC have redirected my life by controlling oil prices to extremes to satisfy their quest for power and greed. I am retired now. It would have been nice to work a few more years.

Please read and educate yourself, this will be the new world order in 5-10 years. It has already started.

bs, you are not talking to children here. It is the industry that has made everything you have possible, including your transportation, your clothes, your utensils, your eyeglasses, and so on.

this line should be included with every post. " It is a dirty industry with no regard for our planet nor its employees." - perfect

Well said gentlemen , well said.

At last, someone who sees past the emperor's new clothes and corporate bullsh+t..Amen.