Thread regarding National Oilwell Varco Inc. layoffs

In a previous project to try and capture a Russian Contract, NOV used CAPS- Canada to sponsor development which was performed and completed by CAPS-USA all in an effort to probably evade US sanctions only to waste NOV development capital because Head of engineering along with Canada-manager & USA-manager never read or followed up on the original market request which was already two-years old and the customer awarded the contract to Baker Hughes before development even started.

It sounds like sanctions against Russia won’t hurt our revenue & working capital as much as our own leadership and managers who tie up our resources to try to win contracts that have already been awarded.

Perhaps with better leadership our resources could have been working on pertinent contracts that could earn revenue and not drain our working capital.

I hope the fact that NOV have a large manufacturing plant in Kostroma, Russian to get around the previous sanctions comes to the attention of the people of Texas, NOV's home state and further afield to force NOV to divest. BP and Shell have both realized their Russian positions are now toxic and are bailing.

Thought we cannot sell to Iran. We have been through the training. Anyway, prayers for Ukraine!!

It won't hurt NOV a bit. They will just sell to non-sanctioned countries who will sell to Russia on NOV's behalf. They have been getting around the embargo country rules for decades. This is just a small speed bump.

It won't hurt NOV a bit. They will just sell to non-sanctioned countries who will sell it to Russia on NOV's behalf. NOV has been getting around the embargo countries for decades. This is just a speed bump.