3/23/2021 0 Comments Landmark Geographix Support
This is a foreign subsidiary and no U.S. person is involved in this. No U.S. person is facilitating any transaction.One of the worlds largest oil field service companies, it has operations in more than 70 countries.It owns hundreds of subsidiaries, affiliates, branches, brands, and divisions worldwide and employs approximately 55,000 people.It offers a broad array of products and services to upstream oil and gas customers worldwide through fourteen product service lines: Artificial Lift, Cementing, Completion Tools, Multi-Chem, Pipeline Process Services, Production Enhancement, Production Solutions clarification needed, Baroid, Drill Bits Services, Landmark Software Services, Sperry Drilling, Testing Subsea, Wireline Perforating, and Consulting Project Management.
Halliburtons 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. Under a deal reached with the U.S. Justice Department, Halliburton has agreed to pay 382 million to settle the bribery case. These businesses continue to be profitable, and the company is one of the worlds largest players in these service industries; it is second after Schlumberger, and is followed by Saipem, Weatherford International, and Baker Hughes. ![]() Asbestos -related litigation from Kellogg acquisition caused the company to book more than US 4.0 billion in losses from 2002 through 2004. A final non-appealable settlement in the asbestos case was reached in January 2005 which allowed Halliburton subsidiary KBR to exit Chapter 11 bankruptcy and returned the company to quarterly profitability. ![]() Analysts at Deutsche Bank valued KBR at up to 2.15 billion, while others believed it could be worth closer to 3 billion by 2005. The stock of the corporation was owned by Erle and Vida Halliburton and by seven major oil companies: Magnolia, Texas, Gulf, Humble, Sun, Pure and Atlantic. Over the next seven years, Halliburton launched Halliburton Company Germany GmbH, set up operations in Argentina and established a subsidiary in England. ![]() Halliburton revenues topped 100 million for the first time in 1952. HOWCO is at this time worth 190 million with camps all over the world. The same year, HOWCO purchased Welex, which pioneered jet perforation. Otis Engineering, an oil field service and equipment company specializing in manufacturing pressure control equipment for oil and gas producing wells, was acquired in 1959. In 1963, Halliburton was the first company in Oklahoma to receive the Presidential E for Export flag in recognition of notable contributions to foreign trade. Equipment was provided for the first multiwell platform offshore China, and an Otis Engineering team controlled a gigantic Tengiz field blowout in the Soviet Union. After having plead guilty, the company was fined 1.2 million, with another 2.61 million in penalties. Prescott Bush was a director of Dresser Industries, which is now part of Halliburton; his son, former president George H. W. Bush, worked for Dresser Industries in several positions from 1948 to 1951, before he founded Zapata Corporation. The company, HPS, operated on the ninth floor of a new north Tehran tower block. Although HPS was incorporated in the Cayman Islands in 1975 and is non-American, it shares both the logo and name of Halliburton Energy Services and, according to Dow Jones Newswires, offers services from Halliburton units worldwide through its Tehran office. Such behavior, undertaken while Cheney was CEO of Halliburton, may have violated the Trading with the Enemy Act. A Halliburton spokesman, responding to inquiries from Dow Jones, said This is not breaking any laws. This is a foreign subsidiary and no U.S. No U.S. person is facilitating any transaction.
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