Halliburton
| Halliburton
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|---|---|
 |
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| legal form | Delaware Corporation |
| ISIN | US4062161017 |
| founding | 1919, Dallas (Texas), Alder Halliburton |
| Seat | Houston ( Texas ) |
| management | David J. Lesar |
| Number of employees | 60,000 (2017) |
| sales | $ 20.62 billion (2017) |
| Website | www.halliburton.com |
Halliburton is an international corporation and a leading provider of technical services, maintenance services, planning and development services as well as a supplier of various products to companies in the oil and energy industry and also to companies in the public sector .
The services as a supplier to the US military as well as the companies in crisis regions as a whole and the connections to former US Vice President Dick Cheney delivered negative headlines to the listed company.
history
Erle P. Halliburton joined the United States Navy in 1910 , where he gained his first experience as an engineer. After the end of the First World War, he left the military and patented a new method for fastening boreholes. In 1919 he founded the New Method Oil Well Cementing Company .
Halliburton established its first research laboratories in the 1930s, where the company tested cement mixes, began acidification services to mine limestone formations' persistence and increase oil and gas production, and the first offshore cementing work on a derrick in an oil field in the Gulf of Mexico with a cementing rig mounted on a barge. This was the beginning of the world's most extensive offshore service.
Halliburton took the first steps in becoming a global company in 1926. The Eastern Hemisphere business began with the sale of five cement units to an English company in Burma . Erle P. Halliburton sent his brothers to open a branch in Alberta, Canada . A subsidiary in Venezuela followed in 1940. In 1946 the company expanded to Colombia , Ecuador , Peru and the Middle East and began providing services to the Arabian-American Oil Company , the forerunner of Saudi Aramco .
Halliburton first appeared in Europe in 1951 as Halliburton Italiana SpA. Over the next seven years, the company founded Halliburton Company Germany GmbH, opened branches in Argentina and a subsidiary in England .
In 1984 Halliburton supplied all of the well manufacturing equipment for the first multiwell platform off China . Two years later, Halliburton became the first American company to work on an oil field in mainland China.
The company opened a branch in Moscow in 1991 .
In 1998, the competitor Dresser Industries was acquired . On November 17, 2014, it was announced that Halliburton plans to take over smaller rival Baker Hughes . The oil service companies announced a corresponding agreement on November 17, 2014. Talks about a merger were announced the week before. The price is said to be about $ 35 billion (about 28 billion euros). Halliburton is offering shareholders 1.12 of its own shares and $ 19 in cash for each Baker share. Compared to the closing price on November 12th, the day before reports of the eventual takeover were first announced, the offer was worth $ 78.62 per share.
The US Antitrust Office made this merger difficult because of monopoly formation in some areas. Ultimately, on April 30, 2016, the boards of directors of Baker Hughes and Halliburton agreed that each would remain independent. Halliburton had to pay Baker Hughes $ 3.5 billion in damages.
criticism
Halliburton has come under increasing public criticism in recent years due to questionable deals with countries such as Libya , Iraq and Iran . Former US Vice President Dick Cheney was Halliburton's CEO from 1995-2000. In 2005, Dick Cheney received $ 211,465 from Halliburton through "delayed payments" while serving as Vice President made $ 205,031. Halliburton got for Iraq without public tendering exclusive contracts from the US government on the basis of a cost plus contract (cost-plus contract) awarded.
Halliburton is accused, among other things, of charging massively excessive prices for services for the US Army in Iraq. Examples are: washing of military linen per 15 pounds (approx. 6.8 kg) for 100 USD, delivery of a crate of lemonade to the US Army for 45 USD.
Halliburton was ranked last in 2007 in ratings for ethical standards and trust in a poll conducted by Wallstreet Journal and research firm Harris Interactive, The Harris Poll, which asked about the reputation of well-known companies. Some respondents berated the company for taking advantage of political contacts to benefit from the Iraq war. In the film Iraq for Sale: The War Profiteers, the American director and activist Robert Greenwald also documents his observations about how, for example, the company KBR - Halliburton derives its financial benefit from the Iraq war.
The announcement made by the US corporation on March 12, 2007 that it would move its company headquarters from Houston, Texas to Dubai , also aroused fierce criticism in the USA.
Deepwater Horizon
Halliburton was instrumental in the work on the Deepwater Horizon oil rig that resulted in a blowout . The drilling platform went up in flames and sank. The sinking of Deepwater Horizon resulted in the 2010 Gulf of Mexico oil spill . According to the US Department of Justice, Halliburton admitted to the destruction of evidence in the case in 2013.
Web links
- Official website
- Halliburton Watch - Watch blog from Essential Information and the Center for Corporate Policy
- The World According to Halliburton ( February 3, 2004 memento on the Internet Archive ) - Flash animation by Mother Jones , August 2003 ( Internet Archive )
Individual evidence
- ↑ Dave Lesar Bio. (No longer available online.) In: Halliburton website. Archived from the original on May 24, 2011 ; accessed on January 27, 2014 (English).
- ↑ corporate profile. www.halliburton.com, accessed January 16, 2019 .
- ↑ financial information. www.halliburton.com, accessed January 16, 2019 .
- ^ Products & Services Index on Halliburton's website
- ↑ http://digital.library.okstate.edu/encyclopedia/entries/H/HA012.html ( Memento from July 1, 2007 in the Internet Archive )
- ↑ history-of-halliburton. www.halliburton.com, accessed November 15, 2018 .
- ^ The Victoria Advocate, February 27, 1998: Halliburton makes deal for purchase of Dresser
- ↑ FAZ.net from November 17, 2014: Halliburton wants to swallow Baker Hughes ( Memento from December 24, 2014 in the Internet Archive )
- ↑ Celler Presse: Halliburton deal with Baker Hughes canceled *** updated - Celler Presse - what moves Celle. (No longer available online.) Archived from the original on May 26, 2016 ; accessed on May 26, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Lisa Myers: New Halliburton waste alleged. In: MSNBC . July 26, 2004, accessed January 29, 2014 .
- ↑ Survey: Microsoft has the best reputation among the most famous companies. In: heise online . January 31, 2007, accessed January 29, 2014 .
- ↑ Halliburton receives criticism for plans to move to Dubai. (No longer available online.) In: Tagesschau . March 12, 2007, archived from the original on August 6, 2009 ; accessed on January 29, 2014 .
- ^ Marc Pitzke : Oil service provider Halliburton: The invisible third. In: Spiegel Online . June 29, 2010, accessed January 29, 2014 .
- ↑ Oil spill: Halliburton destroyed evidence of the "Deepwater" disaster. In: Spiegel Online . July 26, 2013, accessed January 29, 2014 .
