Halliburton Relocates to Dubai
Posted on Mar 11, 2007
Oil giant Halliburton has decided to move its headquarters to the United Arab Emirates in order to better exploit Mideast opportunities. The controversial company has had much success in the region, with no-bid contracts in Iraq helping it pull in $22.6 billion in global revenues in 2006.
Halliburton, the oil services company formerly headed by U.S. Vice President Dick Cheney, is moving its headquarters from Texas to Dubai.
The company said it hoped the move to the United Arab Emirates would help it expand its business in the Middle East.
Halliburton won valuable contracts in Iraq following the U.S.-led invasion of 2003, some of which were awarded without competitive bidding.