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U.S. Extends Halliburton Contract in Iraq

HeadlineOct 30, 2003

The Bush administration yesterday announced that it had extended Halliburton’s controversial no-bid contract until at least December or January. The Associated Press reports the U.S. Army Corps of Engineers has received other competitive bids for the project but decided to extend Halliburton’s no-bid contract. As they cited the decripit state of Iraq’s oil facilities which have been sabotaged by Iraqis opposed to the U.S. occupation. Also yesterday, Congressmen. Henry Waxman of California and John Dingell of Michigan accused Halliburton of overcharging the U.S. by selling gas to the government in Iraq at a rate of $2.65 a gallon. Experts said the cost should be no more than $1 per gallon. Meanwhile Halliburton reported yesterday that its third-quarter revenue soared over 33 percent compared to last you. The company’s net income however declined.

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