UPDATE 2-SLB says Middle East disruption to hit first-quarter earnings

SLB Limited -1.18%

SLB Limited

SLB

49.44

-1.18%

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March 11 (Reuters) - Oilfield services firm SLB SLB.N said on Wednesday escalating tensions in the Middle East would hit its first-quarter earnings by about 6 cents to 9 cents per share and push revenue below expectations, as energy companies move to safeguard personnel and facilities across the region.

SLB's shares fell 2.3% in premarket trade.

The disruption signals how escalating geopolitical tensions are beginning to ripple through the global oil and gas supply chain, forcing energy companies and service providers to scale back operations and evacuate staff in parts of the Middle East.

Exxon Mobil said on Tuesday it had evacuated non-essential staff from some Middle East operations as the conflict between Iran and U.S.-Israel intensifies.

SLB added it has begun demobilizing operations in some countries after customers moved to safeguard staff and infrastructure amid rising tensions.

The company added that it has activated local and regional crisis response teams that are meeting daily, while travel to and transit through parts of the Middle East have been suspended.


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