A combination of bad weather and political disruptions across Schlumberger's global operations will dampen the services giant's first-quarter earnings. Addressing the Howard Weil energy conference in New Orleans Monday, Schlumberg-er Chief Executive Andrew Gould said his firm has suffered "significant" revenue disruptions in Egypt, Tunisia and Libya since the start of the year because of political turmoil. Populist movements have already toppled the leaders of Tunisia and Egypt, while Western allies are now enforcing a no-fly zone in Libya (p1). The disruptions in Tunisia have also created logistical problems for Schlumberger's Algerian operations, Gould said.
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