Schlumberger Limited (SLB), which is headquartered in Paris, France, provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. In comparison, Baker Hughes Company (BKR) in Houston, Tex., provides a portfolio of technologies and services worldwide. The company operates through four segments: Oilfield Services; Oilfield Equipment; Turbo Machinery & Process Solutions; and Digital Solutions.
Oil prices rose on Monday to end January with their biggest monthly gain in a year due to a steady demand recovery as fears around the impact of the COVID-19 omicron variant faded and an increasingly tight supply market because OPEC+ failed to meet its production targets. Rising geopolitical tension between the U.S. and Russia over Ukraine is also contributing to the increase in natural gas prices. Because the world is still largely dependent on plentiful oil and gas supplies, even as climate control and clean energy become imperative, both SLB and BKR should benefit.
