Halliburton Under Scrutiny for $7.1M Equipment Trade With Russia, Eyebrows Raised
Portfolio Pulse from Mohit Manghnani
Halliburton Company (NYSE:HAL) is under scrutiny for exporting equipment worth over $7.1 million to Russia, despite announcing last year that it had ceased operations in the country. The equipment was exported to its former Russian operation in the six weeks following the sale of its Russian office. The situation has sparked frustration in Ukraine and raised questions about the trade relationship between U.S. oil and gas companies and Russia.
September 18, 2023 | 2:58 pm
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NEGATIVE IMPACT
Chevron Corporation could be indirectly affected by the scrutiny on Halliburton's trade with Russia.
As a major player in the oil and gas industry, Chevron could face increased scrutiny and potential regulatory changes in the wake of the Halliburton controversy.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Halliburton's trade with Russia despite ceasing operations could negatively impact its reputation and stock price.
The news about Halliburton's trade with Russia despite ceasing operations there could lead to regulatory scrutiny and potential sanctions, which could negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The VanEck Vectors Oil Services ETF could be indirectly affected by the scrutiny on Halliburton's trade with Russia.
As an ETF that tracks the oil services sector, OIH could be impacted by any negative sentiment or regulatory changes affecting major players in the sector like Halliburton.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The Energy Select Sector SPDR Fund could be indirectly affected by the scrutiny on Halliburton's trade with Russia.
As an ETF that tracks the energy sector, XLE could be impacted by any negative sentiment or regulatory changes affecting major players in the sector like Halliburton.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Exxon Mobil Corporation could be indirectly affected by the scrutiny on Halliburton's trade with Russia.
As a major player in the oil and gas industry, Exxon Mobil could face increased scrutiny and potential regulatory changes in the wake of the Halliburton controversy.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50