More demand for oil and gas equipment has put oilfield technology expert NOV Inc. in a sweet spot for 2022, with the bitter sting of rising costs and broad supply chain issues likely to continue for some time, according to the management team.

CEO Clay Williams held the microphone to discuss 1Q2022 results and the outlook going forward. He was joined by CFO Jose Bayardo.

NOV saw “positive impacts of aggressive cost reductions” and rising oil and gas demand. The positives, though, were “offset by continued inflation and supply chain disruptions,” Williams told investors. Orders were “strong across the board,” lifted in part by its emerging offshore wind business.

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