Schlumberger to reduce Venezuela operations
April 12 (Reuters) - Oilfield services provider Schlumberger Ltd said it would reduce its activity in Venezuela due to insufficient payments received in recent quarters and a lack of progress in establishing new mechanisms that address past and future accounts receivable.
The company said it remains "fully committed" to supporting the Venezuelan exploration and production industry. However, it is unable to increase its accounts receivable balances beyond their current level. (Reporting by Manish Parashar in Bengaluru)
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