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Originally posted by Hal9000
Even with the Iran-Libya Sanctions Act in place, Halliburton continues to operate in Iran. It pays the Department of Commerce $15,000 to settle allegations that the company has broken anti-boycott provisions of the U.S. Export Administration Act for an Iran-related transaction, without admitting wrongdoing.13 Halliburton also continues to do business in Libya throughout Cheney's tenure.
July/August: It is revealed that while Vice President Cheney was Halliburton's CEO, the number of its subsidiary companies in offshore tax havens increased from 9 (in 1995) to 44 (in 1999). One of these subsidiaries (Halliburton Products and Services Ltd.), incorporated in the Caiman Islands, is used since 2000 to get around sanctions on doing business in Iran.41 At the same time, Halliburton's federal taxes dropped dramatically from $302 million in 1998 to an $85 million rebate in 1999. 42
Originally posted by BlueRaja
First off- those that complain that Halliburton got contracts without competition- what other companies would be competing with them for the sort of work that they do? If there aren't other businesses that do a certain task, then it's awfully hard to have anyone to compete with.
"The company as a whole has continued to diversify internationally, and the Middle East is a point that they have targeted," said William Sanchez, a U.S.-based analyst at Howard Weil.
"They are being opportunistic in putting the CEO in the middle of the action."
Sanchez said he believed Halliburton's move to Dubai was not tax related. Instead he viewed it as a strategic play.
Alan Laws, an analyst at Merrill Lynch, said the move would likely help Halliburton's position in negotiating large contracts.
Halliburton said it would maintain its legal registration in the United States and was not leaving Houston, where it was currently based.
But Lesar told reporters: "At this point in time we clearly see there are greater opportunities in the eastern hemisphere than the western hemisphere."