Halliburton pulls out of Iran |
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Published
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Mon, 09 Apr 2007 18:41
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HOUSTON (AP) - Oil field services provider Halliburton Co. on Monday said it has finished with all its contractual commitments in Iran and is pulling out of the country.Halliburton announced in January 2005 that it would only honor existing contracts and would wind down its operations in the country.The company's statement comes as Iran announced Monday it has begun enriching uranium, expanding a nuclear program that has raised the ire of Western nations and resulted in U.N. sanctions.The U.S. and its allies have accused Iran of intending to produce nuclear weapons with the enriched uranium, which can be used as fuel for a nuclear reactor or as material for a nuclear warhead. Iran has denied the charge, saying its program is peaceful is nature.Halliburton shares fell 14 cents to $32.81 in afternoon trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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