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Schlumberger still feels the effects of the oil crisis

The oil market crisis has made its mark on the first quarter result from Schlumberger, the world's largest oil service company. The CEO identifies four focus areas which could boost the industry.

US-based Schlumberger saw a small increase in revenue in the first quarter of this year, while earnings dwindled at the company, the world's largest oil services company.

Revenue increased to USD 6.8 million in the first quarter from USD 6.5 billion the year prior, according to the first quarter interim report. Meanwhile, earnings dived to USD 347 million in the same period from USD 501 million in the first quarter of 2016.

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