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Recent Industry News

Date: 2012-07-27
Reuters: Halliburton takes KBR to court over $256 mln tax dispute

July 27 2012                                
(Taken from Reuters,
July 27 (Reuters) - Halliburton Co and KBR Inc are battling in court over a $256 million tax dispute, as the two companies seek to put to bed the various issues lingering from their corporate break-up five years ago.
Especially in relation to work done for the U.S. military in Iraq, Halliburton, the world's second-largest oilfield services company, and its engineering spin-off have found themselves in court a number of times since their split, usually on the same side.
Separately, Halliburton said in a regulatory filing on Friday that it was investigating payments to third-party agents relating to customs and visa matters in Iraq, as well as payments made to an agent related to customs in Angola.
It gave no more details, except to say this was disclosed to U.S. authorities last quarter during a meeting about a separate investigation of Halliburton's Angola unit over possible Foreign Corrupt Practice Act violations.

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