Halliburton suspends future business in Russia

Halliburton’s booth is witnessed at the Planet 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 future organization in Russia, such as for particular state-owned Russian customers, in compliance with U.S. sanctions soon after Moscow’s invasion of Ukraine.

The organization claimed it has no energetic joint ventures in the place and experienced months in the past halted all shipments of distinct sanctioned sections and solutions to Russia.

Other Western electricity firms these as BP PLC , Shell and Norway’s Equinor ASA (EQNR.OL) have either suspended organization or introduced ideas to abandon their Russia functions, leaving behind their investments.

Russia, which calls its actions in Ukraine a “distinctive procedure”, is among the world’s premier oil and gasoline producers that generally relies on dwelling-grown support companies.

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

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Reporting by Chavi Mehta in Bengaluru Editing by Arun Koyyur

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