Halliburton Jobs in Middle East and The Halliburton Scandal
Halliburton Energy Services (NYSE: HAL is a multinational corporation based in Houston , Texas . With revenues exceeding $20.46 billion and over 95,000 employees, Halliburton operates in two major business segments.
The Energy Services Group provides technical products and services for oil and gas exploration and production. The KBR group is a major construction company of mainly refineries, oilfields & pipelines, and chemical plants.
KBR has contracts in Iraq worth up to $18 billion, including a single "No bid" contract known as "Restore Iraqi Oil" (RIO) which has an estimated worth of $7 billion.
Today KBR and halliburton jobs in middle east total over 30,000 men and women in Iraq . Halliburton's work in Iraq is diverse and complicated. In addition to troop support,
Halliburton also provides air traffic control support; produces 74 million gallons of water a month for consumption, hygiene and laundry; deploys as many as 700 trucks a day to deliver essentials to American forces; and provides firefighter and crash-rescue services, as well as working to restore Iraqi oil infrastructure.
Despite cronyism allegations, the company's contracts in Iraq are much less profitable than its core energy business. They are expected to have generated more than $13 billion in sales by the time they start to expire in 2006 but most offer low margins - less than 2% on average in 2003 and just 1.4% this year for the logistics work.
Halliburton is the only company mentioned by terrorist Osama bin Laden in an April 2004 tape where he claims that "this is a war (in Iraq ) that is benefiting major companies with billions of dollars."
An audit of KBR by the Pentagon's Defense Contract Audit Agency (DCAA) found $108 million in "questioned costs" and, as of mid-March 2005, said they still had major unresolved issues with Halliburton.
In recent years the company has become the center of many controversies involving the 2003 Iraq War and the company's ties to US Vice President Dick Cheney.
Bill Gertz, defense reporter for The Washington Times, wrote: "Vice President Dick Cheney was chief executive officer of Halliburton from 1995 until 2000, and Democrats repeatedly have tried to link the administration to claims of government favoritism toward the firm."
Cheney retired from the company during the 2000 U.S. presidential election campaign with a severance package worth $20 million.
Cheney's deferred compensation from Halliburton, which appear on Mr. Cheney's 2001 financial disclosure statement, generated an income between $50,000 to $100,000 for the vice president. Dick Cheney also retains 433,000 share-equivalent unexercised stock options at Halliburton.
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