Schlumberger takes $8.5 billion hit and slashes dividend

Oilfield services giant sees 20% capex cuts this year from industry and points to FID and project delays

Market crash: Covid-19 and the oil price decline are hitting companies such as Schlumberger hard — Market crash: Covid-19 and the oil price decline are hitting companies such as Schlumberger hardPhoto: REUTERS/SCANPIX

Eoin O'Cinneide

Published 17 April 2020, 12:39Updated 17 April 2020, 13:06