Halliburton Says Army to Withhold Some Payments
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Halliburton Co. on Tuesday said the US Army will withhold payments of 15 percent of future bills, apparently backtracking on an earlier deal.
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In a sign that Iraq contracts did not provide the boon executives had expected from KBR, Halliburton is considering selling it.
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DALLAS (CBS.MW) -- Halliburton&#39;s shares closed higher Wednesday after the Army Materiel Command reversed its decision to withhold 15 percent of its future payments to the company under a contract to supply and support US troops in Iraq.
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Halliburton Co. may decide not to  submit new bids for the logistics contracts it holds in Iraq if  the U.S. military divides up the work too deeply, Chief  Executive Officer Dave Lesar said on Tuesday.
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WASHINGTON : US oil service firm Halliburton has acknowledged that improper payments &quot;may have been made&quot; to Nigerian officials through a consortium of which it was a member.
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In a departure from normal policy, the Army said yesterday it will not withhold future payments to Halliburton Co., despite audit reports last summer that said the giant logistical contractor had not properly accounted for a wide variety of work in Iraq and Kuwait.
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NEW YORK, September 7 (New Ratings) - The US Army reportedly intends to break up its multibillion dollar contract, awarded to Halliburton Co (HAL.
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Halliburton's engineering and  construction unit KBR expects its billing dispute over meals  for U.S. troops in Iraq to be settled soon, a senior KBR  executive said on Tuesday.
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Only hours after deciding to withhold some payments to Halliburton Co. because of questions about billing for its work in Iraq, the Army reversed itself yesterday and said it would give the giant contractor more time to justify its ...
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The U.S. Army is studying a possible  compromise with Halliburton Co. that might allow the company to  keep several billion dollars in disputed billings for work in  Iraq, defense officials said on Friday.
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Halliburton Co. HAL.N, beset by  controversy over its work in Iraq, plans to shed its KBR  engineering and construction unit if the oilfield services  company's share performance does not match its peers, it said  on Thursday.
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Halliburton HAL.N said on Monday  the U.S. Army had decided to give the company more time to  resolve a billing dispute before withholding payment of up to  15 percent of the company's bills in Iraq and Kuwait.
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Halliburton said Tuesday that the US Army had decided not to grant it additional time to substantiate its costs for feeding and housing American troops in Iraq and Kuwait, a decision that could cost the company 15 percent of its payment.
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The U.S. Army will withhold payment  on 15 percent of future invoices of Halliburton Co.'s HAL.N  logistics deal in Iraq due to a billing dispute that could cost  the company $60 million a month, the military said on Tuesday.
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WASHINGTON - The Army extended a Halliburton Co. troop support contract over the objections of a top contracting officer, even contending - and then withdrawing - a claim that US forces faced an emergency if the company didn&#39;t get the extra work.
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The U.S. Army is laying the groundwork to let Halliburton Co. keep several billion dollars paid for work in Iraq that Pentagon auditors say is questionable or unsupported by proper documentation, the Wall Street Journal reported on Friday.
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Halliburton said Monday the U.S. Army had decided to give the company more time to resolve a billing dispute before withholding payment of up to 15 percent of the company's bills in Iraq and Kuwait.