Halliburton to End Iran Operations

[zimv20]

link (http://www.latimes.com/news/nationworld/world/la-fg-halliburton29jan29,0,6199862.story?coll=la-home-world)


HOUSTON — Halliburton Co. will pull out of Iran after its current contracts there are wound down, its chief executive said Friday.

"The business environment currently in Iran is not conducive to our overall strategy and objectives," Chief Executive Dave Lesar said in a conference call.

The Houston-based company, formerly headed by Vice President Dick Cheney, has been criticized for its work in Iraq, where it is the largest private contractor with revenue totaling more than $10 billion.

The company is under investigation for possible overcharges for fuel and food services connected to its Iraq contracts.

Halliburton said in July that it had received a subpoena seeking information about operations in Iran of its Cayman Islands subsidiary, Halliburton Products & Services Ltd.

The company has argued that using a Cayman Islands subsidiary exempts it from a U.S.-imposed trade embargo against Iran, which is accused of seeking nuclear arms and funding terrorist networks.

Halliburton provided no details on when its current contracts in Iran would be completed or on the value of the work. The company generated about $80 million in revenue in Iran in 2003.

hmmmm... should we be reading something into this?

[blackfox]

If we're reading, what page are you on? I am looking at at least three:

- A preface to a military option by the US in Iran
- Halliburton are covering their butt (and perhaps the Administration), from any continued scrutiny over their operations in Iran.
- Iran (or iranian interests) told Halliburton where to stick it considering recent US policy, and signed contracts with the french, or chinese.

[Thomas Veil]

Hmm...I thought you were gonna tell us that the violence in Iraq was making working there just too risky, even for Halliburton.

But they're worried about being investigated. Awwwww.... http://community.the-underdogs.org/smiley/misc/bncry.gif

[solvs]

But they're worried about being investigated. Awwwww.... http://community.the-underdogs.org/smiley/misc/bncry.gif
Don't do the crime, if you can't do the time.

Anybody else thinking "take the money and run". They got what they wanted. They even got caught, and all they got was a slap on the wrist. I says, good riddance.

But, the Iran thing scares me. I guess the administration thinks they've gotten away with it in Iraq, they might as well push their luck even further in Iran. Not like there's much we can do about it. Despite the drop in popularity, and support for Iraq, and the fact that we'll be going it completely alone, and stretching ourselves beyond the limit we've already crossed. But you know they think they can get away with it. And they probably will.

God help us all.