ESG | Environmental

We are committed to complying with the environmental laws and regulations in the countries where we operate and to reducing the energy industry’s impact on the planet. From energy consumption and emissions to water and waste management, we employ thoughtful procedures and processes to mitigate environmental and safety risks.

View the full Sustainability Report
Overhead aerial view of treetops in a forrest

Taking care of our people and the world around us isn’t a box to check—it’s a fundamental part of who we are. Safety, accountability, and integrity are cornerstones of our culture.


Mike Loucaides

Chief Health, Safety, Security, and Environmental Officer

Highlights

Reduced Energy Consumption

In 2024, we successfully reduced our total energy consumption by 13,807 GJ, including decreased absolute electrical energy use. However, several regions worldwide, particularly 57 countries outside the US, reported higher global warming potential coefficients for their electricity generation. These coefficient changes led to an increase in our calculated carbon footprint despite the reduction in total energy consumption (measured in GJ). As a result, our emissions intensity for 2024 (measured in MT CO2e per million dollars of revenue) rose by 4.5% compared to 2023.

$339mm Renewable-Related Revenue

Revenue generated by NOV’s low carbon solutions amounted to $339 million in 2024, as growing revenues from electrified equipment and the carbon capture and hydrogen markets helped offset a sluggish offshore wind sector.

Emissions Production

NOV produced 411,023 metric tons of CO2 equivalent (MT CO2e) Scope 1 and 2 emissions in 2024. Our emissions consisted of 135,554 MT CO2e from stationary combustion and 275,469 MT CO2e from purchased electricity.

Developing Technologies

NOV has developed and introduced innovative technologies to conventional oil and gas operations, which, with widespread adoption, would reduce greenhouse gas (GHG) emissions from energy industry operations by many multiples of our own Scope 1 and 2 GHG emissions.