Interview with CEO of National Oilwell Varco (NOV)

[dan_s]

Watch the video here: https://epplus.hartenergy.com/issue/sep ... d/#qavideo

“Our industry is going to have to put up better financial returns, but above all, we’re going to, most importantly, make sure that we’re adding value to the operations of oil and gas companies because they’re facing similar challenges,” he said. “If the value that we bring to their operations isn’t tangible and demonstrable, they can’t afford to pay for it. And so all of us, I think, across oil and gas broadly are going to have to head to a world where we’re more efficient and better at what we do.”

He shared the company’s efforts and its role in the current energy climate, the impact of digital on accelerating the energy transition and more in the interview. Williams also noted for those just getting started in the industry that while it has seen its ups and downs, it is essential to remember there is always another side.

“We’re going to see prosperity return. We’re going to get busy again. And so I would tell you hang in there. This is going to get better, and you’ll look back at this time and realize that you probably grew more through the downturn than you may fully appreciate right now,” he said. “But when I look back on my own career…I credit the downturns and the tough times that I went through for really making me who I am.”
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MY TAKE: All of the "Cheap Oil" has been harvested. Future oil & gas supplies this world will need are going to require much higher commodity prices than we have today.