Halliburton Corporation

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Halliburton Corporation

Halliburton Corporation

Company Registration No. :
SEC CIK #0000045012

Company Location :
Houston Texas, USA

SHORT BUSINESS DESCRIPTION

Halliburton Company is an American multinational corporation responsible for most of the world's hydraulic fracturing operations.[6] In 2009, it was the world's second largest oil field service company. It has operations in more than 70 countries.[7] It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions worldwide and employs approximately 55,000 people.[8] The company has dual headquarters located in Houston and in Dubai, and remains incorporated in the United States.[9][10][11]

Halliburton's major business segment is the Energy Services Group (ESG). Halliburton's former subsidiary, KBR, is a major construction company of refineries, oil fields, pipelines, and chemical plants. Halliburton announced on April 5, 2007, that it had sold the division and severed its corporate relationship with KBR, which had been its contracting, engineering and construction unit as a part of the company.[12]

The company has been criticized for its involvement in numerous controversies, including its involvement with Dick Cheney – as U.S. Secretary of Defense, then CEO of the company, then Vice President of the United States – and the Iraq War, and the Deepwater Horizon, for which it agreed to settle outstanding legal claims against it by paying litigants $1.1 billion.

KBR, one of Halliburton's subsidiaries at the time, paid bribes to high-ranking Nigerian officials between 1994 and 2004. Under a deal reached with the U.S. Justice Department, Halliburton has agreed to pay $382 million to settle the bribery case.[13]

In 2015, Halliburton was found guilty in court for illegal retaliation against a whistleblower who filed a report with the SEC over concerns that the company was illegally concealing billions of dollars.[14][15]

The company has also been criticized for refusing to comply with EPA requests for transparency around chemicals it uses in hydraulic fracturing.[16]

Jeff Miller was promoted to President of Halliburton on August 1, 2014, and CEO on June 1, 2017, replacing Dave Lesar.[17]

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