Oil giant Schlumberger rebrands itself as SLB for low-carbon future

Oct 24 (Reuters) – Schlumberger (SLB.N), the world’s major oilfield companies supplier, is rebranding alone with a new name, color plan and logo that underscores its ambitions for a reduce-carbon upcoming, the business reported on Monday.

The approximately 100-calendar year-previous agency, initially named after its founding family, has become a large in oilfield expert services and equipment these kinds of as drilling and subsurface investigation. But it has drop aged line merchandise and recast itself as a digital solutions supplier and supporter of cleaner energies.

The rebranding is not a shift absent from fossil fuels, Chief Govt Officer Olivier Le Peuch stated in an job interview. But it is a nod to how the renamed SLB can apply its capabilities to produce lower carbon corporations, lots of of which gained a fiscal improve from the US Inflation Reduction Act.

Recognized in the market as “huge blue,” SLB adopts a lighter blue shade and swooping brand that reflects what Le Peuch mentioned signifies the carbon dioxide emissions abatement curve.

“We believe that that we have an chance in selected marketplaces and selected domains to innovate and scale methods for thoroughly clean power,” Le Peuch explained, noting the renamed SLB can leverage its capabilities in parts these as subsurface investigation to assist emerging systems like carbon capture and sequestration.

In 2020, it introduced a New Energies company device to take a look at low-carbon and carbon neutral systems, and past 12 months established a company net-zero goal, which incorporates Scope 3 emissions, or those people established by buyers making use of its merchandise.

Numerous of its oil generating customers also are relocating to embrace hydrogen and other renewable fuels, and small-carbon production techniques to reduce greenhouse gas emissions.

Reporting by Liz Hampton in Denver Enhancing by Robert Birsel

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