A report has surfaced that Halliburton may have paid bribes to Nigerian officials to help land a $4 billion natural gas contract. The source of this report?
A Halliburton filing with the Securities and Exchange Commission.
"We understand from the ongoing governmental and other investigations that payments may have been made to Nigerian officials," the Houston-based oil services conglomerate said in a quarterly filing Friday with the Securities and Exchange Commission (news - web sites).
Halliburton spokeswoman Wendy Hall said Monday that Halliburton has no concrete knowledge of such payments. "Halliburton's ongoing investigation has still not found any evidence that supports there were any bribes paid," she said.
The allegations center on a contract for a $4 billion Nigerian liquefied natural gas plant awarded in 1995 to TSKJ, a consortium of four partners M.W. Kellogg Co., a subsidiary of Dresser Industries; Technip SA of France; ENI SpA of Italy; and Japan Gasoline Corp.
Halliburton acquired Dresser in 1998 three years after Vice President Dick Cheney (news - web sites) began his 1995-2000 tenure as Halliburton's CEO and combined its Brown & Root subsidiary with M.W. Kellogg to form engineering and construction unit KBR.
The Justice Department (news - web sites), the Securities and Exchange Commission, a French magistrate and Nigerian officials are investigating whether the consortium paid $180 million in bribes to Nigerian officials from 1995 through 2002. The consortium got other contracts involving the Nigerian plant in 1999 and 2002.
In June Halliburton fired two consultants including former KBR chairman A. Jack Stanley, for violating the company's business code of conduct by receiving "improper personal benefits" related to TSKJ's construction of the Nigerian plant.
What amuses me most about this story is the fact that Halliburton has a "code of conduct."
This all seems to have happened, of course, before the Bush Administration began (but while the current VP was their CEO), but it's part of a larger pattern. This is an out-of-control, throughly venal company that will do whatever is needed to make profits, even if that means breaking the law, or blatant war-profiteering.
Reading stories on Halliburton at this point must be what it was like reading stories about Watergate in 1972; they're kind of buried, it's hard to find them sometimes, but if you read closely enough, you might hear the beginning of the end of a corrupt administration.
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