Halliburton Contracts Balloon
Despite being under an investigative cloud, company gets $4.3 billion in 2003
The oil services company Halliburton, largely through its subsidiary Kellogg, Brown & Root , has received more revenue from government contracts in the last year than from 1998 through 2002. In 2003, when the company had record revenue of $16.3 billion, Halliburton received contracts from the Department of Defense worth $4.3 billion, while in the previous five years it obtained less than $2.5 billion from the military, according to an analysis by the Center for Public Integrity. Although figures are not yet available for 2004, government revenue is bound to increase as a result of the contracts the company has won for work in postwar Afghanistan and Iraq, which so far potentially totals $11.4 billion. Some of that work was actually awarded earlier; many of the company's contracts extend for multiple years. [more
]- In 1998, Halliburton's total revenue was $14.5 billion; that year, the company got contracts from the Pentagon worth $284 million.
- Two years later, revenue had dropped to just under $12 billion while work under DoD contracts more than doubled.
- In 2002, the Department of Defense awarded Halliburton tasks worth $485 million while the company's revenue was $12.6 billion.