Weatherford joined with other oilfield service providers, halting Russian investments
In response to ongoing war in Ukraine following Russia’s invasion of the neighboring country, many global companies halted operations in Russia while countries placed additional sanctions on the country. Weatherford and its competitors joined forces to suspend any investments in Russia, further impacting the country’s major oil and gas operations. Weatherford placed a hold on all shipments and suspended new investments and deploying new technology in Russia. The company has also continued to comply with other sanctions that affect oil and gas operations.
COVID|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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