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| NEWS Government paid $7.5 billion to Halliburton since Iraq war began
16 June 2004
WASHINGTON, June 16 (HalliburtonWatch.org) - The U.S. government paid Halliburton $7.5 billion for work in Iraq and Kuwait since the war began in March 2003, auditors revealed. Under the company's logistics contract -- which requires it to feed the troops, transport supplies and construct military buildings -- Halliburton's KBR unit has so far received $4.5 billion. The company received an additional $3 billion for its work in repairing Iraq's southern oil infrastructure and importing gasoline into the war-torn country. The $7.5 billion figure is comprised mostly of reimbursements by the government for Halliburton's costs. The company's profit on the contracts is earned by charging the government a fee of between 1 and 3 percent of those costs. Prior to the beginning of the war, government auditors estimated that Halliburton will ultimately be reimbursed for work in Iraq by about $18 billion. |