Halliburton leaving Iran

[Mavdog]

two points come out of this press release.
First, if Iran is as threatening to our interests as our current administration is screaming (they're setting it up now, those dogs are not barking but there's a noise....) why is Halliburton doing any work there, work that was originally begun when you know who was running the company?
Second, there should be some notice to the connection between Halliburton leaving the area and the already set in motion increased level of violence (as mentioned above). Better to get out of the way early than to have any exposure later.

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Halliburton says will exit Iran when work complete

HOUSTON, Jan 28 (Reuters) - U.S. oilfield services company Halliburton Co. will pull out of Iran after its current contracts there are wound down, its chief executive said on Friday, citing a poor business climate in the Islamic Republic.

"The business environment currently in Iran is not conducive to our overall strategy and objectives. As a result, we have decided to exit Iran and wind down our operations there while fulfilling our existing contracts and commitments," CEO Dave Lesar said on a conference call with investors.

The Houston-based company, formerly headed by Vice President Dick Cheney, has also been criticized for its work for the Pentagon in Iraq, where it is the largest private contractor with revenues totaling more than $10 billion.

The company is under investigation by the U.S. Justice Department for possible overcharges for fuel and food services connected to its Iraq contracts.

Halliburton said in July it had received a subpoena seeking information about operations in Iran of its Cayman Islands-based Halliburton Products & Services Ltd. unit.

Halliburton has argued that using a Cayman Islands subsidiary exempts it from a trade embargo against Iran imposed by Washington, which accuses Tehran of seeking nuclear arms and funding terror networks.

The company said its Cayman Island subsidiary booked between $30 million and $40 million in revenues in Iran in 2003.

An offshore subsidiary of Halliburton earlier this month won a contract to develop Iran's huge South Pars gas field, which sits on the world's biggest reservoir of gas.

That report stoked criticism of the company in the United States, as well as among Iran's conservative newspapers.

Lesar said the pullback from Iran was temporary, and if U.S. laws or the business climate changed, Halliburton would return to the Islamic Republic.

"If the U.S. sanctions are lifted in the future, or more of our major customers go there we will return to this market," he said.

Halliburton provided no details on when its current contracts in Iran would be completed or on the value of the work.

Lesar also said several of its competitors were active in Iraq, but have not been demonized like Halliburton.

"It is inexplicable why these activities have not drawn equal attention, but once again it points out the political nature of the attacks on Halliburton," he said.

[madape]

Good

[Mavdog]

those who will be entangled in this war want to know when you'll be there to share in all the "good" they will suffer?

[madape]

Goodness comes from patriotic corporations who choose not to do business with nations that support terrorism.

[Mavdog]

we agree, halliburton should not be doing business with Iran.