Clay Williams on COVID-19 Pandemic and Market Conditions
The impact of the global COVID-19 pandemic on operations and oil demand, coupled with an oversupply of oil, is unprecedented and daunting - even for an industry with a long and proud history of persevering through tough challenges. This may be the toughest challenge of our generation, but it will not break us. Those of us who keep the world supplied in energy embody grit and determination, and we will persevere once again.
We want you to know that while striving to keep employees healthy and safe, NOV is undertaking extraordinary efforts to meet your short- and long-term needs. We are doing everything in our power to continue to be here for you, providing the technology, equipment, and services needed to support your operations.
Over the decades, the oil and gas industry has achieved amazing advancements, which have enabled it to meet growing demand for energy for more than 160 years. Today we jointly continue that legacy of resourcefulness, practicality, and innovation. Standing together has always pulled us through tough times and will do so again. Hang in there.
Chairman, President, and Chief Executive Officer