Halliburton Takes Charge On Libya Operations

Hailiburton Takes Lead On Libya

“The shutdown in Libya, project delays in Iraq, mobilization costs in Sub-Saharan Africa, and the sluggish market in the United Kingdom and Algeria have impacted the pace of recovery for our international results,” said Dave Lesar, who serves as chairman, president and chief executive of Halliburton, in the announcement.

Note from the link

project delays in Iraq,

Was this a surprise to anyone here?


Heres more.
Hailiburton Gains Profits Fro Libya

it's always been about money

War is big business. Contracts are paid out to the highest bidder for invading, destructing, and reconstructing. After that, it is perpetuated by other businesses coming in to setup shop and the people spending their money on useless things. Once the resources dry up, it is time to move onto 'greener' pastures and start all over again. It is Imperial Capitalism.

Looks like so far this Libya situation has made Halliburton's operations there less profitable. I wonder if this military action had NOT occurred, if Haliburton's profits in the region would have been at the higher levels expected?

It's a stretch, but is there a chance the WH Administration chose to go along with the NATO mission to cause Haliburton's profits in the region to suffer? Maybe as payback for Halliburton's role in the BP gusher?

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From the articles:

What do they mean when they say?;

While international margins continue to be weighed down by Middle East project start-up delays and sluggish activity in the U.K., we think international margins will recover in 2012.

worthwhile quote:

Companies swooped into Libya in recent years, and found themselves rushing to abandon their operations following a February uprising that led to sanctions imposed by governments around the world, as well as a bombing campaign by the North Atlantic Treaty Organization. The U.S. on Friday recognized the rebels as the legitimate government of Libya, joining 30 other countries in doing so.

That recognition frees up more than $30 billion in Libyan assets frozen in U.S. financial institutions amid the sanctions regime. Among those sanctioned were the state’s National Oil Company, which did business with firms from around the world, such as Halliburton and Italian oil giant Eni SpA.

What are the 'delays' in the mid east being referred to?

The company noted that margins are at their highest level since the oil spike in 2008.

“North America continues to deliver very strong growth in revenue and profitability, while international profit recovered modestly. As a whole, our level of operating margin was the highest it has been since 2008,” said Chairman and CEO Dave Lesar.

The company said that it is benefiting from its focus on deepwater drilling and attempts to extract more resources from mature fields. Operating margin growth could continue. “We anticipate that the execution of our strategy and our focus on the high growth segments of deepwater, unconventional resources, and mature fields will result in margin expansion in both our North America and international business, and will support continued delivery of strong shareholder returns,” Lesar said.

From Haliburton's Q2Earnings statement:

Halliburton’s consolidated revenue in the second quarter of 2011 was $5.9 billion, compared to $5.3 billion in the first quarter of 2011. Consolidated operating income was $1.2 billion in the second quarter of 2011, compared to $814 million in the first quarter of 2011. These increases were primarily attributed to improved pricing and equipment utilization in United States land, where nearly all product service lines have benefited from the shift to unconventional oil and liquids-rich basins.

Unconventional oil? Liquid rich basin? What are these referring to?

IS it this new kind of fracking with 'food grade' oils?

Halliburton and El Paso Corporation announced that an El Paso-operated well in North Louisiana is the first natural gas producing well to be completed using all three Halliburton proprietary CleanSuite™ production enhancement technologies for both hydraulic fracturing and water treatment. More than four million gallons of CleanStim® hydraulic fracturing fluid, comprised of ingredients sourced from the food industry, were utilized to enhance the well and resulted in faster production of natural gas. Nearly 4.8 million gallons of water were treated through Halliburton’s CleanStream® process, which uses UV light instead of additives to control bacteria in water. Another one million gallons of produced water was recycled for use in the well through the CleanWave™ system, significantly reducing the need for freshwater.

Thanks OP...

Wasn’t that under the (excuse) flag of liberty and freedom/democracy...? F**k with this kind of humanitarian help. … !

The popular AMERICAN help since WW2...

Originally posted by Kevinquisitor
War is big business. Contracts are paid out to the highest bidder for invading, destructing, and reconstructing. After that, it is perpetuated by other businesses coming in to setup shop and the people spending their money on useless things. Once the resources dry up, it is time to move onto 'greener' pastures and start all over again. It is Imperial Capitalism.

Actually, the articles are saying that the war in Libya, and the ensuing sanctions, has hindered profits in the region for companies like Haliburton:

Halliburtons role there, up to this point, has not, apparently, been the same as their role in Afghanistan or Iraq, which includes reconstruction in addition to many if not all of the military service contracts like laundry, food, etc. They are there processing oil, likely.

The war and ensuing sanctions harmed their profit, not helped.

Companies swooped into Libya in recent years, and found themselves rushing to abandon their operations following a February uprising that led to sanctions imposed by governments around the world, as well as a bombing campaign by the North Atlantic Treaty Organization.

Originally posted by incrediblelousminds

Originally posted by Kevinquisitor
War is big business. Contracts are paid out to the highest bidder for invading, destructing, and reconstructing. After that, it is perpetuated by other businesses coming in to setup shop and the people spending their money on useless things. Once the resources dry up, it is time to move onto 'greener' pastures and start all over again. It is Imperial Capitalism.

Actually, the articles are saying that the war in Libya, and the ensuing sanctions, has hindered profits in the region for companies like Haliburton:

Halliburtons role there, up to this point, has not, apparently, been the same as their role in Afghanistan or Iraq, which includes reconstruction in addition to many if not all of the military service contracts like laundry, food, etc. They are there processing oil, likely.

The war and ensuing sanctions harmed their profit, not helped.

Companies swooped into Libya in recent years, and found themselves rushing to abandon their operations following a February uprising that led to sanctions imposed by governments around the world, as well as a bombing campaign by the North Atlantic Treaty Organization.

Yes, but the fact that Halliburton's profits went down does not mean that the profits of weapons and ammunition suppliers to the countries doing the bombing have not gone up. Just look at the recent row in the UK about the MoD budget. Wars and fighting terrorism are the biggest business opportunities at present, specially with the countries increased reliance on private contractors to do the job.

Originally posted by here4awhile
it's always been about money

smh it has not soul preservation

Originally posted by jmlima


Yes, but the fact that Halliburton's profits went down does not mean that the profits of weapons and ammunition suppliers to the countries doing the bombing have not gone up. Just look at the recent row in the UK about the MoD budget. Wars and fighting terrorism are the biggest business opportunities at present, specially with the countries increased reliance on private contractors to do the job.

Right, but the topic of discussion here isnt war profiteers in general, but Halliburton's operations in Libya. I was merely correcting the person who was implying that halliburton was there in relation to the war in Libya when what the article is ACTUALLY saying is that it's profits are DOWN due to the war and ensuing sanctions. Reading beyond the headline is often a very informative experience.