Halliburton 'Over Billing' Controversy

Meanwhile, KBR denied all the allegations and said that the company was doing a good job under extremely difficult situation of war. It alleged that it was being targeted for political reasons as the presidential elections were due in November 2004.

A few analysts agreed with the company's argument and said that since the charges against the company had not been proved criticism of the company was not justified.

A journalist wrote, "The difference between a potential overcharge and an actual overcharge is a big one, of course. It's the difference between a suspicion and a proven fact"¹⁰...

Catering to the energy customers worldwide, Halliburton operated through its two main subsidiaries - KBR and Halliburton Energy Services. Over the years, Halliburton focused on growth through acquisitions. The company made its first major acquisition in 1962, when it acquired Brown & Root, engineering and construction company.

The second one was Dresser Industries (Dresser), a major provider of integrated project management services for the oil industry, in September 1998. In 1988, Dresser had acquired MW Kellogg, a company with operations in petroleum refining, petrochemical processing, technology, engineering and construction. Brown & Root and Dresser were merged to form KBR...