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Halliburton suspends future business in Russia

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Oil field service company Halliburton announced on Friday that has immediately suspended future business in Russia as the company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers.

Halliburton said it will prioritize safety and reliability as it winds down its remaining operations in Russia.

Several weeks ago, the company halted all shipments of specific sanctioned parts and products to Russia. Halliburton has no active joint ventures there.

“The war in Ukraine deeply saddens us. We have employees in both Ukraine and Russia, and the conflict greatly impacts our people, their families, and loved ones throughout the region,” said Halliburton Chairman, President and CEO Jeff Miller. “Since the start of this conflict, we prioritized employee safety and compliance with all relevant sanctions.”

Halliburton is one of the world’s largest providers of products and services to the energy industry with approximately 40,000 employees, representing 130 nationalities in more than 70 countries, including Guyana.

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