SLB's International Growth Offsets Middle East Disruptions

SLB, a leading provider of digital solutions for the oil and gas industry, reported strong international growth in its second-quarter results. Revenue rose 5% year over year to $8.97 billion, while net income attributable to SLB totaled $786 million. Adjusted EBITDA reached $1.90 billion, driven by higher offshore activity, stronger production systems demand, and continued digital growth.

The company's CEO, Olivier Le Peuch, attributed the growth outside of the Middle East to offshore developments in Latin America, Europe & Africa, and Asia, as well as a rebound in U.S. unconventionals and increasing demand for production and recovery technologies.

Production Systems revenue rose 7% sequentially, supported by increased subsea activity, artificial lift, surface production systems, and production chemicals. Digital revenue increased 9%, reflecting stronger demand for exploration software, digital operations, and AI-enabled workflows.