February 8, 2025

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Halliburton suspends future business in Russia

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Halliburton’s booth is viewed at the World Petroleum Congress, in Houston, Texas, U.S. December 6, 2021. REUTERS/Sabrina Valle

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March 18 (Reuters) – Oilfield solutions company Halliburton Co (HAL.N) claimed on Friday it has suspended potential organization in Russia, which includes for sure state-owned Russian customers, in compliance with U.S. sanctions right after Moscow’s invasion of Ukraine.

The firm claimed it has no energetic joint ventures in the country and had months ago halted all shipments of certain sanctioned parts and items to Russia.

Other Western vitality businesses such as BP PLC , Shell and Norway’s Equinor ASA (EQNR.OL) have either suspended business enterprise or announced designs to abandon their Russia functions, leaving behind their investments.

Russia, which phone calls its steps in Ukraine a “particular operation”, is among the the world’s most significant oil and gas producers that mainly depends on dwelling-developed provider providers.

Before this month, oil key Exxon Mobil (XOM.N) said it would exit Russia oil and gas operations valued at extra than $4 billion and halt new investment.

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Reporting by Chavi Mehta in Bengaluru Modifying by Arun Koyyur

Our Criteria: The Thomson Reuters Believe in Ideas.

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