Brazil Bust Said to Spur Schlumberger to Boost Venezuela Staff
- Schlumberger expands in Venezuela even as it cuts global staff
- Petrobras debt, corruption scandal slows drilling activity
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Cutbacks by Brazil’s state oil company has one of its main suppliers exporting local talent to an unlikely location: Venezuela.
Schlumberger Ltd. is increasing activity in the neighboring country even as it continues to trim its global workforce in response to weakening demand for its goods and services elsewhere, according to a person familiar with the moves who asked not to be named because the policy isn’t public. The world’s largest oilfield-services provider is also sending some Brazilian nationals to Saudi Arabia and Kuwait after Petroleo Brasileiro SA cut spending in an effort to reduce the biggest debt load in the oil industry, the person said.