Is Oceaneering International (OII) stock Halal?

Oceaneering International is a diversified oilfield services company specializing in engineered services and products primarily for the offshore energy industry. Its core objective is to support the safe and efficient extraction of oil, gas, and renewable resources from underwater environments. A significant portion of its offerings is centered around remotely operated vehicles (ROVs), which are crucial for subsea exploration and construction tasks. Before any of that matters to a Muslim investor, one question comes first: is Oceaneering International stock Halal?

Is Oceaneering International Shariah compliant?

No. In the October 2026 screening Oceaneering International (OII) does not pass AAOIFI screening: it fails the non-permissible income screen. For a resources company like Oceaneering International, AAOIFI Shariah Standard No. 21 has little quarrel with the product; the scrutiny falls on the financing. Heavy machinery and long project cycles are usually funded with debt, and the standard tolerates interest bearing borrowing only below 30% of market capitalisation.

Does Oceaneering International pass the business activity test?

The activity screen is only part of the picture this month: Oceaneering International currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The activity itself, extracting and selling resources, raises no Shariah objection; the scrutiny belongs to the financing.

Is Oceaneering International's income Halal?

No. Oceaneering International's income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.

Does Oceaneering International meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation, measured against a market capitalisation of $4.34B (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has OII re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Oceaneering International?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read AAOIFI Standards Explained: What Makes a Stock Halal?