Berkeley CSUA MOTD:Entry 35987
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2025/07/08 [General] UID:1000 Activity:popular
7/8     

2005/1/31 [Politics/Foreign/MiddleEast/Iran, Politics/Foreign/MiddleEast/Others] UID:35987 Activity:nil
1/30    http://news.bbc.co.uk/2/hi/business/4217703.stm
        Halliburton pulling out of Iran. I smell a new war in the future.
2025/07/08 [General] UID:1000 Activity:popular
7/8     

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Cache (1535 bytes)
news.bbc.co.uk/2/hi/business/4217703.stm
Printable version Halliburton to pull out of Iran Iranian petrol-chemical plant The Iranian economy relies heavily on oil exports US energy services company Halliburton is to end its operations in Iran a fter existing contracts come to an end. Several American firms have been able to legally work in the country in t he face of a US trade embargo, through foreign subsidiaries. Halliburton, once run by US vice president Dick Cheney, said its Cayman I sland unit secured revenues of $30m-$40m (16-21m) from Iran in 2003. It said it was winding down its work due to a poor business environment. Losses cut Tension has been mounting between the two nations as the US suspects Iran of developing a nuclear weapons programme. Iran has always denied this, saying that its nuclear development programm e is purely for peaceful, energy-generating purposes. Meanwhile, a recent Iranian gas field contract won by Halliburton sparked criticism in the US. And a federal grand jury is looking at whether any violations of the Iran trade embargo had taken place. Halliburton chief Dave Lesar said the firm would return to the country if US legislation changed or the business climate picked up. Halliburton saw a loss of $201m in the fourth quarter of 2004, compared t o a loss of $947m a year ago, when it was hit with charges related to se ttlement of asbestos claims. The company is planning to sell or float its KBR subsidiary, which is bei ng investigated for alleged overbilling on fuel and food service contrac ts from the Pentagon in Iraq.