Oil and natural gas operators are ramping up activity in Latin America, according to the three biggest names in oilfield services. 

The management teams of SLB Ltd., Baker Hughes Co. and Halliburton Co. each reported upticks in revenue and activity in the region for the fourth quarter of 2022 and the year as a whole.

The trend is likely to continue, according to SLB CEO Olivier Le Peuch.

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“Markets are poised for strong growth in the Middle East and Latin America geographically, and more broadly in offshore and in...