Halliburton – Costly Connections?
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Code : GOV0004
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Region : USA |
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Company Background Halliburtonwas founded in 1919 byErle P. By 2001, the company had revenue of $13 billion and employed around 85,000 people. Halliburton conducted business in over 100 countries across the world and in 2001 revenue from locations outside the United States represented 62% of the company’s revenues... The Road Ahead Halliburton defended its operations in Iraq, which accounted for 40% of its $5.5 billion in fourth-quarter revenue and 30%of its $146million income, in 2003.35 It denied wrongdoing in its Iraq contracting and hired outside lawyers to probe into the Nigerian payments... The Asbestos Liability Halliburton’s problems began with their acquisition of Dresser Industries, a manufacturer of Asbestos, during Dick Cheney’s tenure. This was due to the asbestos and silica related lawsuits that arose out of the health hazards to its workers from asbestos and silica usage.7 Asbestos was being used as a fireproof and insulation material and also in some cement products... |
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The Nigerian Scandal The US and French government authorities were investigating into allegations that while Cheney was in charge, a consortium involving Halliburton paid $180 million in bribes to Nigerian officials17, in the 1990s during a natural gas exploration project.18 Nigerian LNG Limited, a company that liquefies natural gas for export to foreign countries, had awarded this project that was called the “NLNGPlus Project”...
The Iraq Controversy A major controversy erupted when the US Army Corps of Engineers awarded a no-bid contract of $7 billion to Halliburton to re-build Iraq’s oil infrastructure.23 Cheney’s association with the company became the obvious target for the critics. The contract was awarded to KBR and covered everything from laundry to repairing oil infrastructure...
