Big Four oil firm Halliburton leaves Russian market

9 September, 07:13 PM
Halliburton is one of the

Halliburton is one of the "big four" oil service companies (Photo:Halliburton / Facebook)

U.S. corporation Halliburton, one of the Big Four oil service companies, has announced its final exit from the Russian market, according to the press release published on its website on Sept. 8.

The company sold its business in Russia to local management, although the acquisition price and other details were not disclosed.

"Halliburton no longer conducts operations in Russia," the company said in a statement.

“The Russia-based management team now owns and operates Halliburton’s former business and assets in Russia under the name BurService LLC, which is independent from Halliburton.”

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Halliburton held about 2% of the Russian oil services market.

In March, the company announced the suspension of activities in Russia.

In April, Halliburton wrote off all Ukrainian assets due to the full-scale Russian invasion.

Halliburton is one of the four biggest oil service companies, along with Weatherford International, Baker Hughes, and Schlumberger.

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