The head of Schlumberger, one of the largest oil and gas services companies in the world, said from New Orleans the industry is in need of a strategic makeover. Lower crude oil prices have left companies servicing the energy sector with less capital as spending declines for exploration and production. Industry rivals Halliburton and Baker Hughes aim to join forces to endure the downturn. British energy company BG Group combined with Royal Dutch Shell in a similar effort. Schlumberger, one of the largest companies in the upstream sector, reported revenue for the fourth quarter came in at $7.7 billion, a 9 percent decline from one year ago. CEO Paal Kibsgaard told industry leaders at an energy conference in […]