EnergyWatch

Oil service company celebrates growth and big order

US-based National Oilwell Varco publishes its Q2 interim report and exceeds expectations with a significantly higher share price.

Photo: Hjalmar Otto Fjøsne, Aker Solutions

US oil service company National Oilwell Varco's share price increased more than any other on the S&P 500 index, as the company in Q2 exceeded expectations for both net income and revenue.

The company also reported  increased global activity – not merely in the US – including an order for USD 1.8 billion from Saudi Arabian state-owned Aramco for 50 new, land-based oil rigs.

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