U.S. oilfield service companies exposed to Venezuela face new hits to earnings from the South American nation’s ongoing economic turmoil and U.S. sanctions on the country and state-run oil company PDVSA. Insufficient investment, payment delays to suppliers, and the sanctions imposed by the administration of U.S. President Donald Trump have hammered Venezuela’s oil industry and saw crude oil production fall 13 percent in 2017. On Friday, Schlumberger ( SLB.N ) disclosed a $938 million write-down on its Venezuelan assets and receivables, citing political and economic woes affecting the country. It was the first big energy company to report fourth quarter results. Schlumberger and other suppliers accepted promissory notes or reclassified Venezuelan receivables in recent years as a way to manage debts from PDVSA [PDVSA.UL]. But Friday’s charge signals troubles ahead for those with outstanding bills. However, that is likely to be offset by improving business outlooks […]