Halliburton

Halliburton Company is an American multinational corporation and the world's second largest oil service company which is responsible for most of the world's largest fracking operations. It employs approximately 55,000 people through its hundreds of subsidiaries, affiliates, branches, brands, and divisions in more than 70 countries. The company, though incorporated in the United States, has dual headquarters located in Houston and in Dubai.

Halliburton Company
Company typePublic
Traded as
  • NYSE: HAL
  • S&P 500 component
IndustryFossil fuel
Founded1919 (1919), in Duncan, Oklahoma, U.S.
FounderErle P. Halliburton
HeadquartersHouston, Texas and Dubai, UAE
Area served
Worldwide
Key people
Jeff Miller (President, CEO and Chairman of the Board)
Revenue US$23.02 billion (2023)
US$4.083 billion (2023)
Net income
US$2.662 billion (2023)
Total assets US$24.68 billion (2023)
Total equity US$9.433 billion (2023)
Number of employees
48,000 (2023)
WebsiteHalliburton.com
Footnotes / references

Halliburton's major business segment is the Energy Services Group (ESG). KBR, a public company and former Halliburton subsidiary, 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.

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.

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.

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

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

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