Halliburton suspends future business in Russia

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

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March 18 (Reuters) – Oilfield services company Halliburton Co (HAL.N) said on Friday it has suspended future business in Russia, including for certain state-owned Russian customers, in compliance with U.S. sanctions after Moscow’s invasion of Ukraine.

The company said it has no active joint ventures in the country and had weeks ago halted all shipments of specific sanctioned parts and products to Russia.

Other Western energy companies such as BP PLC , Shell and Norway’s Equinor ASA (EQNR.OL) have either suspended business or announced plans to abandon their Russia operations, leaving behind their investments.

Russia, which calls its actions in Ukraine a “special operation”, is among the world’s largest oil and gas producers that mainly relies on home-grown service providers.

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

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Reporting by Chavi Mehta in Bengaluru; Editing by Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

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