Schlumberger pays $14.8bn for Cameron
The oilfield service companies will merge as the transaction is completed in the first quarter of 2016
Two oilfield service companies have agreed to merge, as the world’s biggest, Schlumberger, is buying Cameron for $14.8bn in cash and shares. Schlumberger’s chief executive Paal Kibsgaard said 26 August that the agreement “opened new and broader opportunities for Schlumberger… With oil prices now at lower levels, oilfield services companies that deliver innovative technology and greater integration while improving efficiency, which our customers increasingly demand, will outperform the market.” Oilfield service companies are struggling for survival as the falling oil price makes projects less and less attractive. Their customers have forced prices down by 30% in some cases. Last year, the sec
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
