The revenue of the world's second-biggest oil services company, Halliburton, declined by around $8 billion, or 36%, in 2020 to nearly $14.4 billion compared to the previous year, according to its financial results statement released on Tuesday.
The company's total revenue totaled $22.4 billion last year.
Halliburton posted a loss of $235 million in the fourth quarter of 2020, following record $1 billion and $1.7 billion losses in the first and second quarters, respectively and a $17 million loss in the third quarter.
The company had posted a loss of $1.65 billion in the fourth quarter of 2019.
"I am pleased with our solid execution in the fourth quarter and for the full year. Our swift and decisive cost actions and service delivery improvements reset our earnings power, delivering strong margins and cash flow," Jeff Miller, chairman, president and CEO of the company was quoted as saying in the statement.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry with over 40,000 employees in more than 80 countries.
By Sibel Morrow and Firdevs Yuksel