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Halliburton to move its Headquarters to Dubai
SAN
FRANCISCO (MarketWatch) -- Halliburton Co. will move its corporate
headquarters from Houston to Dubai, according to reports Sunday
citing the oil services company's CEO Dave Lesar.
In an e-mail to the Associated Press, Mann said, "Halliburton is
opening its corporate headquarters in Dubai while maintaining a
corporate office in Houston. The chairman, president and CEO will
office from and be based in Dubai to run the company from the UAE."
Lesar, speaking at an energy conference in nearby Bahrain, said he
will move to Dubai to oversee Halliburton's intensified focus on
business in the Mideast and Asia, home to some of the world's most
important oil and gas markets, according to a report from the AP.
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HAL32.02, +0.29, +0.9%) , once run by
U.S. Vice President Dick Cheney, plans to maintain a corporate
office in Houston, but the company will be run from its office in
the United Arab Emirates, according to company spokeswoman Cathy
Mann.
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The AP
quoted Lesar as saying, "as the CEO, I'm responsible for the global
business of Halliburton in both hemispheres and I will continue to
spend quite a bit of time in an airplane as I remain attentive to
our customers, shareholders and employees around the world. ... Yes,
I will spend the majority of my time in Dubai."
Last year, Halliburton earned a profit of $2.3 billion on revenue of
$22.6 billion.
Halliburton
is spinning off its KBR division, which provides construction and
management for government and infrastructure projects, as well as
energy and chemical engineering services. The company's energy group
provides oil field services. |
