The largest provider of oilfield services in the world Schlumberger has announced that it is rebranding itself as “SLB” with a new name, color scheme, and logo that emphasizes its goals for a future with less carbon emissions.

“Today we face the world’s greatest balancing act—providing reliable, accessible and affordable energy to meet growing demand, while rapidly decarbonizing for a sustainable future,” said Olivier Le Peuch, chief executive officer, SLB. “This dual challenge requires a balance of energy affordability, energy security and sustainability. It requires a balance of innovation and decarbonization in the oil and gas industry as well as clean energy solutions. It requires a balanced energy mix for a balanced planet. Our new identity symbolizes SLB’s commitment to moving farther and faster in facilitating the world’s energy needs today and forging the road ahead for the energy transition. It’s a bold challenge. But the legacy of our people, technology and performance are unmatched, and we are ready to answer this challenge.”

The company, which has been around for almost 100 years and was originally called for its founding family, has grown to be a major player in oilfield services and equipment, including drilling and subsurface investigation. But it has gotten rid of its legacy products and reinvented itself as a provider of digital services and an advocate for renewable energy sources.