Schlumberger rebrands to SLB in focus on clean technology, decarbonization (NYSE:SLB)

Schlumberger logotype on the facade of the local headquarter

AdrianHancu/iStock Editorial via Getty Images

Schlumberger (NYSE:SLB) said Monday it has changed its name to SLB, which it said affirms its “transformation from the world’s largest oilfield services company to a global technology company focused on driving energy innovation for a balanced planet.”

The company said it has spent three years “laying the groundwork for its increasing focus on low- and zero-carbon energy technology solutions while continuing to drive innovation, decarbonization and performance for the oil and gas industry,” such as its Celsius Energy business to reduce the carbon footprint of buildings, and Genvia, its clean hydrogen technology company jointly launched with French research agency CEA and other partners.

Schlumberger (SLB) was Friday’s biggest gainer on the S&P 500 leadboard, tallying its highest closing price in nearly four years, after reporting its best quarterly profit since 2015 and raising guidance for the rest of 2022.

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