Weatherford International plc.
WFRD.US | Support activities for petroleum and natural gas extraction
Weatherford International plc is a multinational oilfield service company providing equipment and services for the oil and natural gas industry. Its offerings include drilling solutions, well construction, formation evaluation, completion systems, production, and intervention services. The company o...Show More
Better Health for All
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Weatherford International plc's core business of providing equipment and services for the oil and natural gas industry inherently contributes to negative health outcomes through fossil fuel extraction and use, with its entire revenue derived from this industry.
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The company has incurred $591,422 in environment-related offenses across 13 records and $578,422 in environmental violations across 12 records since 2000.
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It is also performing a Remedial Action Plan to address contaminated groundwater at a former facility in Midland, Texas, estimated to cost up to $11 million over 20-30 years.
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The company reported a Total Recordable Incident Rate (TRIR) of 0.12 and a Lost Time Incident Rate (LTIR) of 0.02 in 2024, which is a 45% reduction from the prior year.
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Weatherford's cybersecurity program aligns with NIST and includes third-party testing, with no material cyber incidents reported to date.
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The company's community engagement includes support for health and wellness, education, and vulnerable populations, and it launched a Saudi Career-Restart Program for women returning to the workforce after parental leave.
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The company has expanded its Employee Assistance Program to all global employees and their families, offers over 200 unique health and safety-related training courses, and provides cybersecurity training to employees.
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The company does not operate in the pharmaceutical, food, or clinical trial industries, and its operations are not directly relevant to health crisis response or addiction mitigation.
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Fair Money & Economic Opportunity
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Weatherford International plc is an oilfield service company, not a financial institution.
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The company does not offer lending, deposit, or other financial services to consumers.
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Therefore, KPIs related to consumer financial products, pricing, fees, lending compliance, customer wealth building, or financial literacy programs are not applicable to its core business model. While the company engages in internal diversity and inclusion initiatives for its employees and supports charitable causes,
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these activities do not align with the rubric's definition of financial inclusion or profit reinvestment for underserved communities in a financial context.
Fair Pay & Worker Respect
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No evidence available to assess Weatherford International plc on Fair Pay & Worker Respect.
Fair Trade & Ethical Sourcing
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No evidence available to assess Weatherford International plc on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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No evidence available to assess Weatherford International plc on Honest & Fair Business.
Kind to Animals
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No information relevant to Weatherford International plc's practices regarding animal welfare, animal testing, habitat conservation, or ethical sourcing was found in the provided articles. resulted in a 404 error
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, contained no relevant data
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, and 's content was missing.
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Therefore, no KPIs can be scored against the 'Kind to Animals' value.
No War, No Weapons
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Between 1998 and 2007, the company and its subsidiaries illegally exported oil and gas drilling equipment to sanctioned countries including Cuba, Iran, Syria, and Sudan.
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These unauthorized transactions generated approximately $110 million in revenue and were concealed using code names and false destination information.
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The company pleaded guilty to these violations, resulting in a combined penalty of over $252 million, including $100 million for export control violations, and a deferred prosecution agreement.
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In 2018, the company spent $60,000 on lobbying, primarily related to the oil and gas industry, with no reported lobbying related to defense or arms contracts.
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Planet-Friendly Business
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No evidence available to assess Weatherford International plc on Planet-Friendly Business.
Respect for Cultures & Communities
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Weatherford International plc has 5 formal partnership agreements, including with Decahydron, Saudi Aramco, King Fahd University of Petroleum and Minerals, Cresce A.C., and local organizations for park restoration.
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The company reported zero incidents of violations involving the rights of indigenous peoples.
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Weatherford allocates 83% of its procurement budget to suppliers located near key operational areas.
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The company's Human Capital Management platform supports 11 languages, and its Employee Assistance Program web-based services are available in 27 languages.
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The company reported zero significant spills, which could impact cultural sites.
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Safe & Smart Tech
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No evidence available to assess Weatherford International plc on Safe & Smart Tech.
Zero Waste & Sustainable Products
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In 2023, Weatherford diverted 32.17% of its waste from landfill, with 27.26% recycled, 3.95% incinerated, and 0.96% used for energy recovery.
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The company reduced its total waste generated by 37% between 2019 and 2023, from 59,435 metric tons to 37,270 metric tons.
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