The fourth oilfield services company has suspended investments in Russia

Earlier oil service companies Schlumberger and Baker Hughes refused to invest in Russian projects.American Halliburton curtailed activities in RUSSIA

One of the largest oilfield service companies Weatherford International has suspended deliveries, new investments and development of new technologies in Russia. This follows from the statement of the President and Chief Executive Officer of the company Girish Saligram on the website.

“We will monitor the situation with sanctions and will continue to fulfill existing contractual obligations within the framework of applicable international laws and sanctions,” Saligram said and added that the company does not have joint ventures or production facilities in Russia.

He expressed condolences to those who suffered in Ukraine and called for a peaceful settlement.

Switzerland's Weatherford operates in the energy sector in 75 countries and provides solutions to optimize and improve safety in oil and gas production. it employs about 17 thousand people. Owns 350 production sites, including research and development, service and training centers.

American oilfield services company Halliburton will curtail work in Russia Economics