Halliburton set to begin work in Iran

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7B9C0AE3B3%2D8A65%2D4883%2D97C1%2D0ADF2F78BBF3%7D&siteid=mktw

DALLAS (CBS.MW) - Halliburton, under investigation for its operations in Iran, is set to begin oilfield services work in that country as a subcontractor for Oriental Kish, a spokeswoman said Tuesday.

Halliburton shares were recently at $38.11, up 27 cents.

Wendy Hall, Halliburton's (HAL: news, chart, profile) spokeswoman, said she did not know the value of the contract and said Oriental won the contract, not Halliburton. The company's Halliburton Products and Services division will help Oriental Kish, an Iranian company, develop the South Pars natural gas field.

"Halliburton's business is clearly permissible under applicable U.S. laws and regulations," Hall said. "These entities and activities are staffed and managed by non-U.S. personnel. Also, we are in the service business, not the foreign policy business. We have followed and will continue to follow applicable laws."

She added that Halliburton has no ownership in Oriental Kish and played no role in its creation.

Because of Iran's links to terrorism, U.S. companies are severely restricted in their dealings with the country. The 1996 Iran-Libya Sanctions Act limits companies to an investment of $20 million or less a year in Iran's oil and gas sectors, the U.S. Energy Information Administration says.

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[Name removed]

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[Kokonoe]

2. Well that proves it.. Halliburton is not a repuke shill company

I feel much better that we can trust anyone involved with Halliburton. *sarcasm on* lol

[livinginphotographs]

3. Pretty soon, the whole planet

Will be a joint venture between Halliburton and Wal-Mart. Won't that be great??!!!!