Better Health for All

The company, NESR.US, is an oilfield services provider. The provided articles detail its operational and environmental performance, including workplace safety metrics for its employees and contractors (e.g., TRIR, LTIFR, fatalities) and environmental impact data (e.g., CO2e emissions, water usage, waste generation, spills).

However, the rubric for 'Better Health for All' explicitly states that it does not pertain to workplace safety standards or environmental pollution control, as these fall under other ethical values. The company's core business does not involve health-related products or services for the general population, nor do the articles provide any evidence of initiatives related to public health, accessibility of medical treatments, preventative healthcare, or mental wellness programs for the broader community. Consequently, there is no specific, concrete evidence in the articles that directly addresses any of the KPIs under this value, leading to the omission of all KPIs.

Fair Pay & Worker Respect

In 2024, the CEO's total compensation was 62 times that of the median employee, who earned $36,351.

The company reported a Total Recordable Injury Frequency Rate (TRIR) of 0.77 per million man-hours in 2024, a decrease from 1.11 in 2023 and 1.30 in 2022. There was one employee fatality in 2023, but zero in 2022 and 2024. The voluntary employee turnover rate was 9.7% in 2024. In 2019, the company stated that no employees were represented by unions or covered by collective bargaining agreements, except for some in Oman. All full-time employees are eligible to participate in health and welfare plans, which may include medical, dental, and vision benefits, as applicable in each country.

Fair Trade & Ethical Sourcing

In 2024, NESR directed approximately 79% of its total procurement spend to domestic suppliers.

This figure was 78% in 2023 and 65% of 3,273 vendors in 2020. The company spent $713 million on local suppliers in 2024, $605 million in 2023, and $400 million in 2020. NESR requires all business partners, suppliers, and agents to comply with its Code of Conduct, which includes maintaining policies to safeguard against human rights violations, prohibiting bribery and corruption, and responsibly sourcing materials. Proposals from potential business partners and suppliers must include a statement of their intent to adhere to laws and regulations regarding human rights, including prohibiting forced or child labor and requiring the payment of wages. Since 2020, over 2,300 suppliers have been screened for environmental, human rights, and social impact performance. In 2024, 1,570 suppliers were committed to environmental, human rights, and social adherence, representing 67% of total active suppliers.

Honest & Fair Business

National Energy Services Reunited Corp. (NESR) was issued a $400,000 civil penalty by the SEC on August 28, 2024, for financial reporting, accounting, and controls violations.

The company restated three years of financials (2018-2020) and the first three quarters of 2021 due to these issues. NESR has a formal whistleblower policy that prohibits retaliation for good faith reporting and offers anonymous reporting via email and toll-free hotlines. All board members, except the CEO, satisfy the criteria of independence as defined by Nasdaq Listing Rules and SEC rules. NESR adopts a zero-tolerance approach to bribery and corruption, with a published policy overseen by the Board and CEO. The company's operations are conducted in compliance with industry-standard certification programs like ISO 9001, ISO 14001, and ISO 45001, with most operating countries being ISO 14001 certified by external bodies. NESR also engaged third-party ESG consultants to evaluate its strategy and intends to enhance its platform for expanded third-party assurances of future data and disclosures.

Kind to Animals

NESR.US is an oilfield services company, and the provided articles contain no evidence of its involvement in activities typically associated with animal welfare. The company does not produce consumer goods, engage in animal agriculture, or conduct animal testing.

Therefore, most KPIs related to 'Kind to Animals' are not applicable to its core business model. There is no information on cruelty-free certifications, alternative testing methods for product safety, humane certifications for operations, animal-derived ingredient substitution, cage-free sourcing, animal testing policies or volume, innovation investment in animal-free technologies, animal agriculture ethics, or animal-free R&D collaboration. While NESR states it strives to protect biodiversity and minimize impact on flora and fauna, no measurable biodiversity impact or specific conservation initiatives with metrics are provided. Supplier audits are mentioned for environmental, human rights, social impact, quality, and HSE, but not specifically for animal welfare compliance. NESR states it is politically neutral and does not make political contributions, but this does not provide specific engagement on animal welfare policy.

No War, No Weapons

NESR.US operates in oilfield services, and the provided articles contain no evidence of revenue derived from arms or defense contracts, nor any R&D investment in dual-use technologies with military applications.

The company explicitly states it is politically neutral and does not lobby, indicating no defense-related lobbying. There is no evidence of AI systems being used militarily, involvement in intelligence or surveillance contracts, or any exposure to controversial weapons. The company's core business does not involve defense assets, military technology, or mineral inputs, making several KPIs not applicable.

Planet-Friendly Business

NESR reported total Scope 1 and 2 emissions of 230,140 tCO2e in 2024.

However, Scope 3 emissions are not yet reported, with measurement planned for 2025 and reporting for 2026. The company has a net-zero target for operations by 2050. While NESR plans to align with TCFD, no explicit alignment or detailed scenario analysis is provided. The company estimates that up to 20% of the energy consumed at its NORI facility is from renewable sources, and its Habshan Basecamp uses a nearly 10% green electricity mix. In 2024, water use intensity was 220.5 m3 per $1 million revenue. NESR reported zero environmental compliance violations in 2024. The company recycled 16,218 metric tons of waste in 2024, with 12,743 metric tons going to landfill. Only the NORI facility is mentioned as designed to comply with LEED certification. NESR works with suppliers to reduce environmental impacts but lacks specific climate transparency metrics for its supply chain.

Respect for Cultures & Communities

NESR reported no cultural appropriation incidents in its ESG reports for 2020, 2023, and 2024.

In 2024, in 66.5% of the countries where NESR operates, over 75% of the employee workforce was comprised of nationals, with three countries entirely nationalized. The company's Code of Conduct outlines grievance reporting procedures, including an ethics hotline and email, available to employees. In 2024, 80.3% of the total procurement budget was spent on local suppliers. While the Code of Conduct is published in Arabic and English, there is no further evidence of broader language inclusivity in products or communications. In 2023, 98.4% of employees completed Code of Conduct training, which protects worker rights and human dignity, but specific cultural sensitivity training completion rates are not provided.

Safe & Smart Tech

NESR provided 2,085 hours of cybersecurity awareness training to 2,581 employees in 2023, achieving a 98.4% completion rate.

In 2024, 1,904 hours of training were delivered to 6,439 employees. An ongoing phishing simulation program is implemented, with targeted reinforcement training for employees who engage incorrectly. All company-issued devices are encrypted, and all sensitive and personal data is encrypted both in transit and at rest using secure communication protocols like SSL/TLS. Multi-factor authentication (MFA) is implemented for systems that store or process sensitive data, including cloud-based infrastructure. The company conducts regular vulnerability assessments and penetration testing on all IT systems, including core applications and cloud infrastructure, with internal and independent third-party assessments. NESR states it collects only necessary information and retains personal data only as long as necessary, securely deleting or anonymizing it when no longer required. The company complies with applicable data protection and privacy laws, U.S. trade compliance, economic sanctions regulations, and all import and export laws. It also conducts regular audits and risk assessments to proactively identify vulnerabilities.

Zero Waste & Sustainable Products

NESR's waste diversion rate was 63.83% in 2024, based on 16,218 metric tons recycled and 6,266 metric tons incinerated out of a total of 35,227 metric tons of waste generated.

The company is evaluating the feasibility of its 'Flare-to-Forest' concept and developing a ZMLD process for multi-circularity. Waste reduction initiatives include introducing technologies that reduced job volume by 30% and water consumption, changing cement slurry formula to save 6,700 m3 of freshwater per year in Oman, and using dissolvable plugs to reduce coiled tubing operating time by 30% and water consumption by 28%. NESR generated 3,755 metric tons of hazardous waste in 2024. The company recorded no environmental violations in 2019, 2020, 2023, and 2024. NESR introduced cutting-edge technologies to reduce job volume by 30%, improving efficiency and reducing water consumption. The company has a goal to recycle all water from wash bays and permanent man camps in its biggest operating locations by the end of 2023. Suppliers are required to meet NESR's quality and environmental standards. NESR participated in an environmental campaign in Saudi Arabia to spread awareness on best environmental practices among school children.