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Halliburton Iraq Contracts Pass $10 Billion Mark |
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The value of Halliburton’s Iraq contracts has crossed the $10 billion threshold. Halliburton has now received $8.3 billion in Iraq work under its LOGCAP troop support contract and $2.5 billion under its no-bid Restore Iraqi Oil (RIO) contract, a total of $10.8 billion.
The mounting value of the contracts has been accompanied by a growing list of concerns about Halliburton’s performance. Over the last year, government auditors have issued at least nine reports criticizing Halliburton’s Iraq work, and there are multiple criminal investigations into overcharging and kickbacks involving Halliburton’s contracts. Former Halliburton employees have testified before Congress about egregious instances of overbilling. Despite these concerns, the Bush Administration continues to reject the recommendations of its auditors that 15% of Halliburton’s LOGCAP reimbursements be withheld until the company can provide better substantiation for its charges.
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