NOV INC
NOV
Energy
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
NOV Inc. is a major global supplier of equipment, technology, and services for the oil and gas industry, providing drilling and production equipment, downhole tools, and integrated systems primarily to fossil fuel operators. The company’s business model is fundamentally tied to fossil fuel extraction, with its products and services deployed throughout every major oil and gas region worldwide.
The company has been subject to regulatory enforcement for its international operations. In 2017, the U.S. Department of Commerce’s Bureau of Industry and Security asserted 22 violations of the Export Administration Regulations by NOV and its subsidiary Dreco. These violations involved unauthorized exports and re-exports of oilfield equipment to embargoed destinations.
NOV Inc. provides critical equipment and services for oil and gas drilling and production, including blowout preventers, drilling rig systems, and wellbore technologies. Its products are integral to upstream and midstream fossil fuel operations globally, an industry with a documented history of causing severe environmental damage such as oil spills, habitat destruction, and soil contamination.
While NOV publishes sustainability commitments, its core business model is enabling and maintaining fossil fuel extraction. The company's equipment is deployed in ecosystems vulnerable to the very incidents of environmental destruction described in its taxonomy, from offshore marine spills to onshore habitat disruption. ViolationTracker documents that a subsidiary, Dreco Energy Services Ltd., was implicated in apparent violations of international sanctions from 2002 to 2009, indicating historical compliance failures in its operational conduct.
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