U.S. oilfield services firm Halliburton warns of risk to Russian assets

[Yo_Mama_Been_Loggin]

(Reuters) - U.S. oilfield services firm Halliburton Co on Friday warned it may face Russian government seizure of its $340 million in assets in the country and a future charge to earnings over its withdrawal.

The company last month disclosed it had suspended Russian operations following the conflict in Ukraine and would wind down existing operations. Those contracts will end May 15 to comply with U.S., U.K., Swiss and European Union sanctions, it said on Friday.

The securities filing did not specify the size of the potential impairment charge. Legal challenges and employee severance costs could add to any asset impairment, it said in a securities filing. The company already took a $22 million writedown on its Ukraine assets.

Oilfield rival Baker Hughes this week also said sanctions have made its operations in Russia "significantly more difficult." It did not write down assets but said further sanctions that disrupt its Russian contracts "could have a material adverse effect" on future results.

https://www.msn.com/en-us/money/markets/us-oilfield-services-firm-halliburton-warns-of-risk-to-russian-assets/ar-AAWuHEG

[Scrivener7]

1. Haliburton made billions on it's Iraq war boondoggles. It can absorb this cost.

[Budi]

2. Thanks for the Sanctions President Biden.

Brilliant decision to go all-in on Putin, & looks like trickle down is finally worth something!

Haliburton, big fat cat oil exploitation. 👍

[bluedigger]

3. Sounds like a decade's worth of tax write offs.

I mean, Oh, those poor shareholders!

[MagickMuffin]

4. What will Dick do? I'm sure he's still in tight with his former company

I'm sure they'll figure out how to cook the books.


Remember that?

Dick even admitted halliburton kept two sets of books. Nothing ever came of that.


Poor poor halliburton!