There are no more "big four" oil service companies in Russia. Weatherford also goes from Russia

Weatherford, a multinational oil and gas service company, has announced its position on operations in Russia. The company said it had cut off technology supplies and suspended any new investment in Russia on February 24, following Russia's invasion of Ukraine. According to the company, there are no existing joint ventures in Weatherford in Russia.

"Our deepest sympathies go out to all those impacted by the ongoing crisis in Ukraine and sincerely hope that peace is restored soon… We will remain in compliance with the evolving sanctions landscape and will continue to fulfill existing contractual obligations within applicable international laws and sanctions.… We are deeply concerned about the crisis and urge a speedy diplomatic and peaceful resolution," said Girish Saligram, CEO.

Thus, all the oil service companies of the "big four" (Halliburton, Schlumberger, Baker Hughes, and Weatherford) announced the cessation of new investments in the Russian oil and gas market.

14:53 / 20 March 2022

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