Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

CORRECTED (OFFICIAL)-Halliburton eliminates Venezuela staff after U.S. sanctions halt operations

Published 2020-12-30, 06:44 p/m
HAL
-
WFRD
-
SLB
-

(Corrects Dec. 30 story after Halliburton (NYSE:HAL) spokeswoman says company has no staff in the country)

Dec 30 (Reuters) - Oilfield services provider Halliburton Co HAL.N has eliminated all staff positions in Venezuela as a result of U.S. sanctions limiting its operations in the crisis-stricken OPEC nation, a spokeswoman for the company said on Thursday.

Washington in April limited the activities Halliburton - as well as rivals Schlumberger NV (NYSE:SLB) SLB.N , Baker Hughes Co BKR.N and Weatherford International Plc WFTLF.PK - could perform in Venezuela. The United States in 2019 sanctioned state oil company Petroleos de Venezuela PDVSA.UL as part of its push to oust President Nicolas Maduro. said at the time that it had halted its operations in Venezuela. have zero headcount in Venezuela," the spokeswoman said in an emailed message on Thursday, adding that the company will maintain a presence in Venezuela through equipment and facilities.

Halliburton, as well as most other major international oil services companies operating in Venezuela, had even before the sanctions significantly scaled back operations and written off hundreds of millions of dollars in assets and receivables due to operational issues at PDVSA, and late payments by the company.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.