Introduction

Introduction

The 2020 Annual & Sustainability Report was prepared in accordance with the reporting guidelines and terminology of the Global Reporting Initiative (GRI) Core option, International Petroleum Industry Environmental Conservation Association and the Sustainability Accounting Standards Board (SASB). We are working toward alignment with the Task Force on Climate-related Financial Disclosures (TCFD) Recommendations. We have mapped our progress on material topics aligned with the United Nations Sustainable Development Goals. We provide annual information to CDP (Carbon Disclosure Project), Dow Jones Sustainability Index and other top organizations that assess companies for environmental, social and governance performance.

Financial Highlights

Despite the global pandemic and an unprecedented downturn in oil demand in 2020, we responded and adapted to the challenges, while continuing to execute for our customers. Halliburton redesigned and refocused our business to successfully navigate the downturn, delivering better margin performance compared to any prior downturn and generating strong free cash flow. We built onto our strong international business, which generated more than half of our 2020 revenue and income.