Bloomberg News

Halliburton Opens Internal Probe on Iraq, Angola Operations

July 27, 2012

Halliburton Co. (HAL:US), the world’s second- largest oilfield services provider, has begun internal investigations into its operations in Angola and Iraq.

The probes are looking at payments made to third-party agents related to customs matters in Angola and Iraq, as well as visa issues in Iraq, Houston-based Halliburton said today in a federal filing.

Halliburton alerted U.S. Justice Department and Securities and Exchange officials during the second quarter that it had begun the inquiry after meeting with them about another internal investigation the company has under way about possible violations of the Foreign Corrupt Practices Act, or FCPA.

Halliburton has previously said it received an anonymous e- mail in December 2010 alleging that current and former employees violated Halliburton’s own business-conduct codes and the FCPA, mainly through its dealings with an Angolan vendor. The e-mail has alleged “conflicts of interest, self-dealing and the failure to act on alleged violations,” Halliburton has said in federal filings.

Halliburton rose (HAL:US)3.3 percent to $33.62 at the close in New York.

To contact the reporter on this story: David Wethe in Houston at dwethe@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net


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Companies Mentioned

  • HAL
    (Halliburton Co)
    • $55.78 USD
    • -0.07
    • -0.13%
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