Corp-Ethics.com - Report: US agrees to Halliburton inquiry

Company	Halliburton [Company Info]
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Date	Issue	Title
15th Oct 2004	Questionable Practice	US agrees to Halliburton inquiry

Report

The US government will set up an inquiry into the no-bid Iraq contracts given to Halliburton, the company once run by Vice President Dick Cheney.

The move is the latest embarrassment for the firm, which faces losing its Iraq contracts with the US Army.

Halliburton's Iraq deals had been criticised by the International Advisory Monitoring Board, a UN group monitoring the use of Iraq's resources.

Meanwhile, a Halliburton affiliate faces a probe by Nigeria's parliament.

Portugal-registered TSKJ comprising Technip of France and Snamprogetti Netherlands faces allegations of bribery.

Halliburton acquired the firm in 1998.

The special audit of Halliburton's Iraq contracts will investigate:

the extent of no-bid contracts funded by Iraqi oil revenue;
previous US government audits relating to the company;
and whether any of Halliburton's contracts have not yet been audited.

Halliburton has denied any wrongdoing.

News of the investigation was made public by the International Advisory Monitoring Board, set up by the UN to oversee the use of Iraq's resources during the occupation of the country by US-led coalition forces.

The board also released an audit of Iraq's oil accounts during the final six months of the US occupation.

Accountants KPMG, who carried out the review on behalf of the board, expressed concern about the occupation authority's recording of cash receipts and oil export revenue.

The board previously had accused the Coalition Provisional Authority of inadequate management of Iraqi oil money, and failure to safeguard against corruption.

Halliburton has been criticised for alleged overcharging for its services as well as winning the reconstruction contracts as a result of contacts with the Iraq administration.

Mr Cheney led the firm between 1995 and 2000, and Halliburton's operations in Iraq have become an issue in the presidential election campaign.

Other Reports on Halliburton
Date	Issue	Company	Report
12th Jul 2006	Other Issue	Halliburton	US Army to end Halliburton deal
24th Mar 2006	Fraud Investigation	Halliburton	Ex-Halliburton staff in Saudi kickback
23rd Aug 2005	Other Issue	Halliburton	Halliburton worker admits bribes
15th Mar 2005	Other Issue	Halliburton	Halliburton in $108m Iraq probe
4th Dec 2004	Other Issue	Halliburton	Halliburton asbestos deal 'final'
25th Nov 2004	Other Issue	Halliburton	Halliburton faces 'payment cut'
29th Oct 2004	Fraud Investigation	Halliburton	FBI 'studying Halliburton deals'
21st Sep 2004	Questionable Practice	Halliburton	Halliburton hit with Nigeria ban
17th Aug 2004	Other Issue	Halliburton	US Army suspends Halliburton decision
3rd Aug 2004	Fraud Investigation	Halliburton	Halliburton settles accounts case
20th Jul 2004	Questionable Practice	Halliburton	Halliburton Iran deals under fire
19th Jun 2004	Other Issue	Halliburton	Halliburton cuts off KBR ex-boss
19th May 2004	Questionable Practice	Halliburton	Pentagon suspends Halliburton payments
10th May 2004	Questionable Practice	Halliburton	Halliburton seeks to settle Asbestos Liability
17th Mar 2004	Other Issue	Halliburton	US to withhold Halliburton bills
17th Dec 2003	Questionable Practice	Halliburton	Halliburton bankrupts own units
12th Dec 2003	Questionable Practice	Halliburton	Halliburton Questioned regarding Iran
22nd Nov 2003	Fraud Investigation	Halliburton	Halliburton in Iraq fuel costs row
15th Jun 2003	Fraud Investigation	Halliburton	Nigeria Fraud Investigation
13th Jun 2003	Questionable Practice	Halliburton	Halliburton awarded US military contact

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