Oilfield services provider Schlumberger NV on Thursday forecast rising international and offshore exploration spending this year, after posting a 20 percent drop in first-quarter profit due to weak North American demand. The oilfield services sector bellwether said it expects a 7 to 8 percent increase in investments by oil producers in markets outside North America, citing a 20 percent increase last quarter in offshore rig counts and growing exploration activity in Latin America, Africa and Asia. “We still see a fairly decent runway for increased international investments,” Chief Executive Officer Paal Kibsgaard said, citing higher new project approvals and a renewed interest in exploration outside North America. Second-quarter earnings per share will be 35 cents, in line with the Wall Street consensus estimate, said Kibsgaard. He cautioned seasonal […]