Schlumberger CEO Gets $20.8 Million Pay as Oil Markets Rebound
Paal Kibsgaard
Photographer: Andrey Rudakov/Bloomberg
This article is for subscribers only.
Schlumberger Ltd. Chief Executive Officer Paal Kibsgaard received $20.8 million in reported pay for 2017, a 12 percent boost from the prior year as the global oil market rebounded.
The world’s biggest oilfield services provider reported the pay increase on Friday, almost two months after telling investors that the market is finally improving. The contractors of the oil patch, which are hired to drill and frack wells, were among the worst hit during the three-year crude-market crash, having slashed hundreds of thousands of jobs and incurring massive losses.