Houston-headquartered oilfield equipment maker National Oilwell Varco has become the latest firm in the hydrocarbons sector to announce a soft rebrand.
The company, which has bases in Aberdeen, Portlethen and Kintore, will change its corporate name to NOV Inc from January 1, with its ticker symbol remaining unchanged.
Bosses said the move reflected its “broadening mission within energy” amid the transition to a low carbon economy.
Clay Williams, chairman, president and CEO, said: “Our company has a long and proud legacy of innovation and technology dating back to the earliest days of the oilfield.
“We are committed to continuously improving the drilling and production operations of our customers.
“As the world looks to expand its energy portfolio to lower-carbon sources, we find our core engineering, manufacturing and project management expertise is providing new and exciting opportunities within this transition.
“The corporate name change reflects the company’s broadening mission within energy to continue to drive economic efficiency and safety, as we have done for decades within traditional oil and gas.”
In 2018, Norwegian firm Equinor rebranded from Statoil, representing its shift towards becoming a broader energy firm rather than one solely focused on oil.
Five years ago GDF Suez changed its name to Engie as part of its clean energy push.
Other name change examples include Swire Oilfield Services rebranding to Swire Energy Services, around the same time the Oil and Gas Technology Centre in Aberdeen became simply OGTC.
Robert Gordon University’s Oil and Gas Institute became the Energy Transition Institute last year.
Despite accusations of “greenwashing”, the industry is taking steps to cut carbon emissions.