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143-635: Halliburton Company is an American multinational corporation and the world's second-largest oil service company which is responsible for most of the world's fracking operations. It employs approximately 55,000 people through its hundreds of subsidiaries, affiliates, branches, brands, and divisions in more than 70 countries. The company, though incorporated in the United States, has dual headquarters located in Houston and in Dubai . Halliburton's major business segment

286-617: A Dallas/Fort Worth Metroplex data center operated by CyrusOne Networks LLC. On May 14, 2010, President Barack Obama said in an interview with CNN that "you had executives of BP and Transocean and Halliburton falling over each other to point the finger of blame at somebody else" when referring to the congressional hearings held during the Deepwater Horizon oil spill . "The American people could not have been impressed with that display, and I certainly wasn't." According to Tim Probert, executive vice president of Halliburton, "Halliburton, as

429-418: A 20-article series entitled "The Middle Eastern Question", written by Sir Ignatius Valentine Chirol . During this series, Sir Ignatius expanded the definition of Middle East to include "those regions of Asia which extend to the borders of India or command the approaches to India." After the series ended in 1903, The Times removed quotation marks from subsequent uses of the term. Until World War II , it

572-462: A Nigerian official $ 2.4 million in bribes in order to receive favorable tax treatment., United Arab Emirates In October 2004, after emerging from the bankruptcy protection, Halliburton opened a new 250,000-square-foot (23,000 m) facility on 35 acres (140,000 m), replacing an older facility that opened in 1948, in Rock Springs, Wyoming . With over 500 employees, Halliburton is one of

715-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

858-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1001-577: A deadline of the end of April 2016 after which, if a decision had not been made, both companies could walk away from the deal if they chose. At the beginning of May 2016, the day after the deadline expired, Halliburton and Baker Hughes announced the termination of the merger agreement. On March 1, 2022, Halliburton inaugurated its MultiChem facility in Jubail PlasChem Park, which will make Saudi Arabia an exporter of specialty products from an importer of specialty products. Halliburton has become

1144-413: A four-company joint venture to build a liquefied natural gas plant on Bonny Island in southern Nigeria. Earlier in 2009, KBR, a former subsidiary of Halliburton, agreed to pay $ 402 million after admitting that it bribed Nigerian officials, and Halliburton paid $ 177 million to settle allegations by the U.S. Securities and Exchange Commission without admitting any wrongdoing. In mid-December 2010,

1287-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1430-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1573-634: A pilot operation of a computer network system – the first such installation in the oilfield services industry. In 1966, workers broke ground for a new wing at the Research Center in Duncan that tripled the available space for the Chemical Research and Design Department. In 1968, an automated mixing system for drilling mud was developed by Halliburton, primarily for use offshore. Gearhart Industries (acquired by Halliburton Energy Services in 1989) introduced

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1716-542: A replacement of the term Near East (both were in contrast to the Far East ). The term "Middle East" has led to some confusion over its changing definitions. Since the late 20th century, it has been criticized as being too Eurocentric . The region includes the vast majority of the territories included in the closely associated definition of West Asia , but without the South Caucasus . It also includes all of Egypt (not just

1859-563: A result of the asbestos-related costs and staggering losses on the Barracuda Caratinga FPSO construction project based in Rio de Janeiro, Brazil, Halliburton lost approximately $ 900 million U.S. a year from 2002 through 2004. A final non-appealable settlement in the asbestos case was reached in January 2005 which allowed Halliburton subsidiary KBR to exit Chapter 11 bankruptcy and returned

2002-554: A separately listed company on April 5, 2007. The company was started in 1919 by Erle P. Halliburton as the New Method Oil Well Cementing Company. In 1920, he brought a wild gas well under control, using cement, for W.G. Skelly, near Wilson, Oklahoma . On March 1, 1921, the Halliburton "method and means of excluding water from oil wells" was assigned a patent from the U.S. Patent Office . Halliburton invented

2145-415: A service provider to the well owner, is contractually bound to comply with the well owner's instructions". It was anticipated that Halliburton's $ 2.5 billion "Restore Iraqi Oil" (RIO) contract would pay for itself as well as for reconstruction of the entire country. Plans called for more oil to be exported from Iraq's northern oil fields than actually occurred. Halliburton's work on the pipeline crossing

2288-578: A strategically, economically, politically, culturally, and religiously sensitive area. The region is one of the regions where agriculture was independently discovered, and from the Middle East it was spread, during the Neolithic, to different regions of the world such as Europe, the Indus Valley and Eastern Africa. Prior to the formation of civilizations, advanced cultures formed all over the Middle East during

2431-666: A subsidiary of Halliburton Energy Services called Halliburton Products and Services Ltd. (HPS) opened an office in Tehran . The company, HPS, operated on the ninth floor of a new north Tehran tower block. Although HPS was incorporated in the Cayman Islands in 1975 and is "non-American", it shares both the logo and name of Halliburton Energy Services and, according to Dow Jones Newswires , offers services from Halliburton units worldwide through its Tehran office. Such behavior, undertaken while senior Republican (later U.S. vice president) Dick Cheney

2574-803: A vital role in the Middle East, and they represent 40.5% of Lebanon, where the Lebanese president , half of the cabinet, and half of the parliament follow one of the various Lebanese Christian rites. There are also important minority religions like the Baháʼí Faith , Yarsanism , Yazidism , Zoroastrianism , Mandaeism , Druze , and Shabakism , and in ancient times the region was home to Mesopotamian religions , Canaanite religions , Manichaeism , Mithraism and various monotheist gnostic sects. The six top languages, in terms of numbers of speakers, are Arabic , Persian , Turkish , Kurdish , Modern Hebrew and Greek . About 20 minority languages are also spoken in

2717-537: Is Aramaic and its dialects are spoken mainly by Assyrians and Mandaeans , with Western Aramaic still spoken in two villages near Damascus, Syria. There is also an Oasis Berber -speaking community in Egypt where the language is also known as Siwa . It is a non-Semitic Afro-Asiatic sister language. Persian is the second most spoken language. While it is primarily spoken in Iran and some border areas in neighbouring countries,

2860-529: Is more and more common in press texts translated from English sources, albeit having a distinct meaning). In the four Slavic languages, Russian Ближний Восток or Blizhniy Vostok , Bulgarian Близкия Изток , Polish Bliski Wschód or Croatian Bliski istok (terms meaning Near East are the only appropriate ones for the region. However, some European languages do have "Middle East" equivalents, such as French Moyen-Orient , Swedish Mellanöstern , Spanish Oriente Medio or Medio Oriente , Greek

3003-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

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3146-629: Is present in areas in neighboring countries. It is a member of the Turkic languages , which have their origins in East Asia. Another Turkic language, Azerbaijani , is spoken by Azerbaijanis in Iran. The fourth-most widely spoken language, Kurdish , is spoken in the countries of Iran, Iraq, Syria and Turkey, Sorani Kurdish is the second official language in Iraq (instated after the 2005 constitution) after Arabic. Hebrew

3289-646: Is the Energy Services Group (ESG). KBR , a public company and former Halliburton subsidiary, is a major construction company of refineries , oil fields, pipelines , and chemical plants . Halliburton announced on April 5, 2007, that it had sold the division and severed its corporate relationship with KBR, which had been its contracting, engineering and construction unit as a part of the company. The company has been criticized for its involvement in numerous controversies, including its involvement with Dick Cheney – as U.S. Secretary of Defense , then CEO of

3432-429: Is the official language of Israel , with Arabic given a special status after the 2018 Basic law lowered its status from an official language prior to 2018. Hebrew is spoken and used by over 80% of Israel's population, the other 20% using Arabic. Modern Hebrew only began being spoken in the 20th century after being revived in the late 19th century by Elizer Ben-Yehuda (Elizer Perlman) and European Jewish settlers, with

3575-469: Is used by a source in a story. Mideast is also acceptable, but Middle East is preferred. European languages have adopted terms similar to Near East and Middle East . Since these are based on a relative description, the meanings depend on the country and are generally different from the English terms. In German the term Naher Osten (Near East) is still in common use (nowadays the term Mittlerer Osten

3718-461: Is used to seal casing in oil and gas wells, thereby preventing leaks. Government investigators had ordered companies involved in drilling the well to preserve all relevant evidence. In early December 2010, the Nigerian government filed corruption charges against Cheney in connection with his role as the chief executive of Halliburton. The case relates to an alleged $ 182 million contract involving

3861-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

4004-569: Is Μέση Ανατολή ( Mesi Anatoli ), and Italian Medio Oriente . Perhaps because of the political influence of the United States and Europe, and the prominence of Western press, the Arabic equivalent of Middle East (Arabic: الشرق الأوسط ash-Sharq al-Awsaṭ ) has become standard usage in the mainstream Arabic press. It comprises the same meaning as the term "Middle East" in North American and Western European usage. The designation, Mashriq , also from

4147-793: The Arabian Peninsula ( Magan , Sheba , Ubar ). The Near East was first largely unified under the Neo Assyrian Empire , then the Achaemenid Empire followed later by the Macedonian Empire and after this to some degree by the Iranian empires (namely the Parthian and Sassanid Empires ), the Roman Empire and Byzantine Empire . The region served as the intellectual and economic center of

4290-698: The Balkans conflict in the 1990s, Kellogg Brown-Root (KBR) supported U.S. peacekeeping forces in Bosnia and Herzegovina , Croatia and Hungary with food, laundry, transportation, and other life-cycle management services. In 1998, Halliburton merged with Dresser Industries, which included Kellogg. Prescott Bush was a director of Dresser Industries, which is now part of Halliburton; his son, former president George H. W. Bush , worked for Dresser Industries in several positions from 1948 to 1951, before he founded Zapata Corporation . The Wall Street Journal reported in 2001 that

4433-518: The Central Powers , was defeated by the British Empire and their allies and partitioned into a number of separate nations, initially under British and French Mandates . Other defining events in this transformation included the establishment of Israel in 1948 and the eventual departure of European powers, notably Britain and France by the end of the 1960s. They were supplanted in some part by

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4576-558: The Deepwater Horizon explosion claimed that poor practices of Halliburton staff had contributed to the disaster. Investigations carried out by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling found that Halliburton was jointly at fault along with BP and Transocean for the spill. The cement that Halliburton used was an unstable mixture, and eventually caused hydrocarbons to leak into

4719-809: The Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

4862-521: The Indian Ocean and the Mediterranean Sea (see also: Indo-Mediterranean ). It is the birthplace and spiritual center of religions such as Christianity , Islam , Judaism , Manichaeism , Yezidi , Druze , Yarsan , and Mandeanism , and in Iran, Mithraism , Zoroastrianism , Manicheanism , and the Baháʼí Faith . Throughout its history the Middle East has been a major center of world affairs;

5005-682: The International Organization for Migration , there are 13 million first-generation migrants from Arab nations in the world, of which 5.8 reside in other Arab countries. Expatriates from Arab countries contribute to the circulation of financial and human capital in the region and thus significantly promote regional development. In 2009 Arab countries received a total of US$ 35.1 billion in remittance in-flows and remittances sent to Jordan , Egypt and Lebanon from other Arab countries are 40 to 190 per cent higher than trade revenues between these and other Arab countries. In Somalia ,

5148-639: The Maghreb and the Sudan . The term the " Greater Middle East " also includes parts of East Africa , Mauritania , Afghanistan , Pakistan , and sometimes the South Caucasus and Central Asia . The term "Middle East" may have originated in the 1850s in the British India Office . However, it became more widely known when United States naval strategist Alfred Thayer Mahan used the term in 1902 to "designate

5291-592: The Near East , Fertile Crescent , and Levant . These are geographical concepts, which refer to large sections of the modern-day Middle East, with the Near East being the closest to the Middle East in its geographical meaning. Due to it primarily being Arabic speaking, the Maghreb region of North Africa is sometimes included. The countries of the South Caucasus  – Armenia , Azerbaijan , and Georgia  – are occasionally included in definitions of

5434-563: The Sassanid Empire . However, it would be the later Islamic Caliphates of the Middle Ages , or Islamic Golden Age which began with the Islamic conquest of the region in the 7th century AD, that would first unify the entire Middle East as a distinct region and create the dominant Islamic Arab ethnic identity that largely (but not exclusively) persists today. The 4 caliphates that dominated

5577-520: The Sinai ) and all of Turkey (including East Thrace ). Most Middle Eastern countries (13 out of 18) are part of the Arab world . The most populous countries in the region are Egypt, Turkey, and Iran, while Saudi Arabia is the largest Middle Eastern country by area. The history of the Middle East dates back to ancient times , and it was long considered the "cradle of civilization". The geopolitical importance of

5720-775: The Somali Civil War has greatly increased the size of the Somali diaspora , as many of the best educated Somalis left for Middle Eastern countries as well as Europe and North America . Non-Arab Middle Eastern countries such as Turkey , Israel and Iran are also subject to important migration dynamics. A fair proportion of those migrating from Arab nations are from ethnic and religious minorities facing persecution and are not necessarily ethnic Arabs, Iranians or Turks. Large numbers of Kurds , Jews , Assyrians , Greeks and Armenians as well as many Mandeans have left nations such as Iraq, Iran, Syria and Turkey for these reasons during

5863-467: The Stone Age . The search for agricultural lands by agriculturalists, and pastoral lands by herdsmen meant different migrations took place within the region and shaped its ethnic and demographic makeup. The Middle East is widely and most famously known as the cradle of civilization . The world's earliest civilizations, Mesopotamia ( Sumer , Akkad , Assyria and Babylonia ), ancient Egypt and Kish in

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6006-449: The Tigris river at Al Fatah has been called a failure. Critics claim that the oil fields are barely usable and access to international markets is severely limited. As an example, against the advice of its own experts, Halliburton attempted to dig a tunnel through a geological fault zone . The underground terrain was a jumble of boulders, voids, cobblestones, and gravel and not appropriate for

6149-498: The U.S. Army Corps of Engineers , Fort Worth District. Critics point to the Guantanamo Bay detention camp as a possible model. According to a press release posted on the Halliburton website, "The contract, which is effective immediately, provides for establishing temporary detention and processing capabilities to augment existing Immigration and Customs Enforcement (ICE) Detention and Removal Operations (DRO) Program facilities in

6292-572: The cradle of civilization (multiple regions of the world have since been classified as also having developed independent, original civilizations). Conversely, the Levantine coast and most of Turkey have relatively temperate climates typical of the Mediterranean , with dry summers and cool, wet winters. Most of the countries that border the Persian Gulf have vast reserves of petroleum . Monarchs of

6435-485: The first native Hebrew speaker being born in 1882. Greek is one of the two official languages of Cyprus , and the country's main language. Small communities of Greek speakers exist all around the Middle East; until the 20th century it was also widely spoken in Asia Minor (being the second most spoken language there, after Turkish) and Egypt. During the antiquity, Ancient Greek was the lingua franca for many areas of

6578-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

6721-482: The Arabian Peninsula in particular have benefitted economically from petroleum exports. Because of the arid climate and dependence on the fossil fuel industry, the Middle East is both a major contributor to climate change and a region that is expected to be severely adversely affected by it. Other concepts of the region exist, including the broader Middle East and North Africa (MENA), which includes states of

6864-677: The Arabian and Egyptian regions. Several major rivers provide irrigation to support agriculture in limited areas here, such as the Nile Delta in Egypt, the Tigris and Euphrates watersheds of Mesopotamia , and the basin of the Jordan River that spans most of the Levant. These regions are collectively known as the Fertile Crescent , and comprise the core of what historians had long referred to as

7007-672: The Arabic root for East , also denotes a variously defined region around the Levant , the eastern part of the Arabic-speaking world (as opposed to the Maghreb , the western part). Even though the term originated in the West, countries of the Middle East that use languages other than Arabic also use that term in translation. For instance, the Persian equivalent for Middle East is خاورمیانه ( Khāvar-e miyāneh ),

7150-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

7293-669: The Gulf was the most important passage for Britain to control in order to keep the Russians from advancing towards British India . Mahan first used the term in his article "The Persian Gulf and International Relations", published in September 1902 in the National Review , a British journal. The Middle East, if I may adopt a term which I have not seen, will some day need its Malta , as well as its Gibraltar ; it does not follow that either will be in

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7436-569: The Hebrew is המזרח התיכון ( hamizrach hatikhon ), and the Turkish is Orta Doğu. Traditionally included within the Middle East are Arabia , Asia Minor , East Thrace , Egypt , Iran , the Levant , Mesopotamia , and the Socotra Archipelago . The region includes 17 UN -recognized countries and one British Overseas Territory . Various concepts are often paralleled to the Middle East, most notably

7579-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

7722-410: The Levant, all originated in the Fertile Crescent and Nile Valley regions of the ancient Near East. These were followed by the Hittite , Greek , Hurrian and Urartian civilisations of Asia Minor ; Elam , Persia and Median civilizations in Iran , as well as the civilizations of the Levant (such as Ebla , Mari , Nagar , Ugarit , Canaan , Aramea , Mitanni , Phoenicia and Israel ) and

7865-416: The M.W. Kellogg division of Dresser (which Dresser had merged with in 1988). KBR is a major international construction company that works in an industry that tends to have an element of volatility and is subject to significant fluctuations in revenue and profit . Asbestos -related litigation from Kellogg acquisition caused the company to book more than US$ 4.0 billion in losses from 2002 through 2004. As

8008-481: The Middle East for more than 600 years were the Rashidun Caliphate , the Umayyad caliphate , the Abbasid caliphate and the Fatimid caliphate . Additionally, the Mongols would come to dominate the region, the Kingdom of Armenia would incorporate parts of the region to their domain, the Seljuks would rule the region and spread Turko-Persian culture, and the Franks would found the Crusader states that would stand for roughly two centuries. Josiah Russell estimates

8151-411: The Middle East. " Greater Middle East " is a political term coined by the second Bush administration in the first decade of the 21st century to denote various countries, pertaining to the Muslim world , specifically Afghanistan , Iran , Pakistan , and Turkey . Various Central Asian countries are sometimes also included. The Middle East lies at the juncture of Africa and Eurasia and of

8294-504: The Middle East. Arabic, with all its dialects, is the most widely spoken language in the Middle East, with Literary Arabic being official in all North African and in most West Asian countries. Arabic dialects are also spoken in some adjacent areas in neighbouring Middle Eastern non-Arab countries. It is a member of the Semitic branch of the Afro-Asiatic languages. Several Modern South Arabian languages such as Mehri and Soqotri are also spoken in Yemen and Oman. Another Semitic language

8437-408: The Middle East. For the period between the 1970s and 1990s, the Arab states of the Persian Gulf in particular provided a rich source of employment for workers from Egypt, Yemen and the countries of the Levant, while Europe had attracted young workers from North African countries due both to proximity and the legacy of colonial ties between France and the majority of North African states." According to

8580-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

8723-434: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

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8866-447: The Persian Gulf. Naval force has the quality of mobility which carries with it the privilege of temporary absences; but it needs to find on every scene of operation established bases of refit, of supply, and in case of disaster, of security. The British Navy should have the facility to concentrate in force if occasion arise, about Aden , India, and the Persian Gulf. Mahan's article was reprinted in The Times and followed in October by

9009-400: The Roman Empire and played an exceptionally important role due to its periphery on the Sassanid Empire . Thus, the Romans stationed up to five or six of their legions in the region for the sole purpose of defending it from Sassanid and Bedouin raids and invasions. From the 4th century CE onwards, the Middle East became the center of the two main powers at the time, the Byzantine Empire and

9152-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

9295-519: The U.S. Justice Department, the Federal Bureau of Investigation ( FBI ) and the Pentagon's inspector general. These investigations found no wrongdoing within the contract award and execution process. In one of Greenhouse's claims, she said that military auditors caught Halliburton overcharging the Pentagon for fuel deliveries into Iraq. She also complained that Defense Secretary Donald Rumsfeld 's office took control of every aspect of Halliburton's $ 7 billion Iraqi oil/infrastructure contract. Greenhouse

9438-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

9581-450: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

9724-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

9867-558: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

10010-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

10153-407: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

10296-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

10439-451: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

10582-624: The area between Arabia and India". During this time the British and Russian empires were vying for influence in Central Asia , a rivalry that would become known as the Great Game . Mahan realized not only the strategic importance of the region, but also of its center, the Persian Gulf . He labeled the area surrounding the Persian Gulf as the Middle East. He said that, beyond Egypt's Suez Canal ,

10725-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

10868-478: The bribery case. In 2015, Halliburton was found guilty in court for illegal retaliation against a whistleblower who filed a report with the SEC over concerns that the company was illegally concealing billions of dollars. The company has also been criticized for refusing to comply with United States Environmental Protection Agency requests for transparency around chemicals it uses in hydraulic fracturing. Jeff Miller

11011-475: The case was settled when Nigeria agreed to drop the corruption charges against Cheney and Halliburton in exchange for a $ 250 million settlement. According to Femi Babafemi, the spokesperson for the Economic and Financial Crimes Commission, the $ 250 million would include approximately $ 130 million frozen in a Swiss bank , and the rest would be paid as fines. Multinational corporation Most of

11154-715: The classificiation of the African country, Egypt, among those counted in the Middle East challenges the usefulness of using such terms. The description Middle has also led to some confusion over changing definitions. Before the First World War , "Near East" was used in English to refer to the Balkans and the Ottoman Empire , while "Middle East" referred to the Caucasus , Persia , and Arabian lands, and sometimes Afghanistan , India and others. In contrast, " Far East " referred to

11297-681: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

11440-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

11583-659: The company changed its name to the Halliburton Company. In 1963, Halliburton was the first company in Oklahoma to receive the Presidential "E" for Export flag in recognition of notable contributions to foreign trade. Halliburton opened a 500,000 sq ft (46,000 m) manufacturing center in Duncan, Oklahoma , in 1964. The company began to experiment with new technologies to help their services – for example, beginning in 1965

11726-659: The company to quarterly profitability. While Halliburton's revenues have increased because of its contracts in the Middle East , the overall impact on its bottom line has been mixed. At a meeting for investors and analysts in August 2004, a plan was outlined to divest the KBR division through a possible sale , spin-off or initial public offering . Analysts at Deutsche Bank valued KBR at up to $ 2.15 billion, while others believed it could be worth closer to $ 3 billion by 2005. KBR became

11869-558: The company, then Vice President of the United States – and the Iraq War , and the Deepwater Horizon , for which it agreed to settle outstanding legal claims against it by paying litigants $ 1.1 billion. KBR , one of Halliburton's subsidiaries at the time, paid bribes to high-ranking Nigerian officials between 1994 and 2004. Under a deal reached with the U.S. Justice Department , Halliburton has agreed to pay $ 382 million to settle

12012-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

12155-471: The content inside the stolen material was data on the recently discovered Tupi oil field . Initial police inquiries suggest that it could be a common container theft operation. The container was a ramshackle in complete disorder indicating that thieves were after "valuables and not only laptops," said an expert consulted by the daily newspaper Folha de S. Paulo. In 2008, Halliburton agreed to outsource its mission-critical information technology infrastructure to

12298-477: The countries of East Asia (e.g. China , Japan , and Korea ). With the collapse of the Ottoman Empire in 1918, "Near East" largely fell out of common use in English, while "Middle East" came to be applied to the emerging independent countries of the Islamic world . However, the usage "Near East" was retained by a variety of academic disciplines, including archaeology and ancient history . In their usage,

12441-509: The country is one of the region's largest and most populous. It belongs to the Indo-Iranian branch of the family of Indo-European languages . Other Western Iranic languages spoken in the region include Achomi , Daylami , Kurdish dialects, Semmani , Lurish , amongst many others. The close third-most widely spoken language, Turkish , is largely confined to Turkey, which is also one of the region's largest and most populous countries, but it

12584-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

12727-476: The current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and

12870-572: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Middle East The Middle East (term originally coined in English language) is a geopolitical region encompassing the Arabian Peninsula , the Levant , Turkey , Egypt , Iran , and Iraq . The term came into widespread usage by the United Kingdom and western European nations in the early 20th century as

13013-404: The early 1990s, Halliburton was found to be in violation of federal trade barriers in Iraq and Libya, having sold these countries dual-use oil drilling equipment and, through its former subsidiary, Halliburton Logging Services, sending six pulse neutron generators to Libya. After having pleaded guilty, the company was fined $ 1.2 million, with another $ 2.61 million in penalties. During

13156-593: The economy of the Western world [...] Within this contextual framework, the United States sought to divert the Arab world from Soviet influence. Throughout the 20th and 21st centuries, the region has experienced both periods of relative peace and tolerance and periods of conflict particularly between Sunnis and Shiites . Arabs constitute the largest ethnic group in the Middle East, followed by various Iranian peoples and then by Turkic peoples ( Turkish , Azeris , Syrian Turkmen , and Iraqi Turkmen ). Native ethnic groups of

13299-490: The event of an emergency influx of immigrants into the U.S., or to support the rapid development of new programs. The contingency support contract provides for planning and, if required, initiation of specific engineering, construction and logistics support tasks to establish, operate and maintain one or more expansion facilities." In February 2008, a hard disk and two computers containing classified information were stolen from Petrobras while in Halliburton's custody. Allegedly,

13442-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

13585-637: The first digital computer logging system in 1974. In 1969, Halliburton began construction of a base camp at Prudhoe Bay on Alaska 's North Slope. In 1975, it responded to environmental concerns by working with the nonprofit Clean Gulf Associates to contain and clean up oil spills. In 1976, Halliburton established the Halliburton Energy Institute in Duncan, Oklahoma, to provide an industry forum for disseminating technical information. In 1980, Halliburton Research Center opened in Duncan, Oklahoma. The company's billionth sack of cement for customers

13728-831: The first multiwell platform offshore China, and an Otis Engineering team controlled a gigantic Tengiz field blowout in the Soviet Union . Following the end of Operation Desert Storm in February 1991, the Pentagon , led by then defense secretary Dick Cheney , paid Halliburton subsidiary Brown & Root Services over $ 8.5 million to study the use of private military forces with American soldiers in combat zones. Halliburton crews also helped bring 725 burning oil wells under control in Kuwait . In 1995, Cheney replaced Thomas H. Cruikshank , as chairman and CEO . Cruikshank had served since 1989. In

13871-469: The first time in 1952. Erle P. Halliburton died in Los Angeles in 1957. HOWCO is at this time worth $ 190 million with camps all over the world. The same year, HOWCO purchased Welex, which pioneered jet perforation. Otis Engineering, an oil field service and equipment company specializing in manufacturing pressure control equipment for oil and gas producing wells, was acquired in 1959. On July 5, 1961,

14014-477: The former's website, as at December 11, 2014 detailed the restructuring in the integration to follow. The firm announced it would acquire Baker Hughes for around $ 35 billion in cash and stock, creating an oilfield services company that aims to compete with Schlumberger . Prior to the merger of Baker Hughes and Halliburton, Halliburton must divest over $ 5 billion of its assets according to the regulations created by US competition enforcement authorities. The merger had

14157-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

14300-461: The highest in the world, and the international oil cartel OPEC is dominated by Middle Eastern countries. During the Cold War, the Middle East was a theater of ideological struggle between the two superpowers and their allies: NATO and the United States on one side, and the Soviet Union and Warsaw Pact on the other, as they competed to influence regional allies. Besides the political reasons there

14443-763: The industry. In 1947, the Halliburton first marine cementing vessel went into service. In 1951, Halliburton first appeared in Europe as Halliburton Italiana SpA, a wholly owned subsidiary in Italy. Over the next seven years, Halliburton launched Halliburton Company Germany GmbH, set up operations in Argentina and established a subsidiary in England. By 1951, HOWCO had service centers operating in Canada, Venezuela, Peru, Colombia, Saudi Arabia and Indonesia. Halliburton revenues topped $ 100 million for

14586-566: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

14729-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

14872-481: The kind of drilling Halliburton planned. "No driller in his right mind would have gone ahead," said Army geologist Robert Sanders when the military finally sent people to inspect the work. On November 17, 2014, Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton will, subject to the conditions set forth in the agreement, acquire Baker Hughes in a stock and cash transaction valued at $ 34.6 billion. A press release made available on

15015-531: The largest private employers in Sweetwater County . On January 24, 2006, Halliburton's subsidiary KBR (formerly Kellogg, Brown and Root) announced that it had been awarded a $ 385 million contingency contract by the Department of Homeland Security to build "temporary detention and processing facilities" or internment camps. According to Business Wire , this contract will be executed in cooperation with

15158-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

15301-514: The last century. In Iran, many religious minorities such as Christians , Baháʼís , Jews and Zoroastrians have left since the Islamic Revolution of 1979 . The Middle East is very diverse when it comes to religions , many of which originated there. Islam is the largest religion in the Middle East, but other faiths that originated there, such as Judaism and Christianity , are also well represented. Christian communities have played

15444-459: The late 20th century, scholars and journalists from the region, such as journalist Louay Khraish and historian Hassan Hanafi have criticized the use of "Middle East" as a Eurocentric and colonialist term. The Associated Press Stylebook of 2004 says that Near East formerly referred to the farther west countries while Middle East referred to the eastern ones, but that now they are synonymous. It instructs: Use Middle East unless Near East

15587-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

15730-530: The major business segments. These businesses continue to be profitable, and the company is one of the world's largest players in these service industries; it is second after Schlumberger , and is followed by Saipem , Weatherford International , and Baker Hughes . With the acquisition of Dresser Industries in 1998, the Kellogg-Brown & Root division (in 2002 renamed to KBR) was formed by merging Halliburton's Brown & Root (acquired 1962) subsidiary and

15873-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

16016-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

16159-489: The object of several controversies involving the Iraq War and the company's ties to former U.S. Vice President Dick Cheney . Cheney retired from the company during the 2000 U.S. presidential election campaign with a severance package worth $ 36 million. As of 2004, he had received $ 398,548 in deferred compensation from Halliburton while Vice President. Cheney was chairman and CEO of Halliburton Company from 1995 to 2000 and has received stock options from Halliburton. In

16302-448: The population of what he calls "Islamic territory" as roughly 12.5 million in 1000 – Anatolia 8 million, Syria 2 million, and Egypt 1.5 million. From the 16th century onward, the Middle East came to be dominated, once again, by two main powers: the Ottoman Empire and the Safavid dynasty . The modern Middle East began after World War I , when the Ottoman Empire, which was allied with

16445-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

16588-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

16731-431: The region has been recognized and competed for during millennia. The Abrahamic religions, Judaism , Christianity , and Islam , have their origins in the Middle East. Arabs constitute the main ethnic group in the region, followed by Turks , Persians , Kurds , Azeris , Copts , Jews , Assyrians , Iraqi Turkmen , Yazidis , and Greek Cypriots . The Middle East generally has a hot, arid climate, especially in

16874-662: The region include, in addition to Arabs, Arameans , Assyrians , Baloch , Berbers , Copts , Druze , Greek Cypriots , Jews , Kurds , Lurs , Mandaeans , Persians , Samaritans , Shabaks , Tats , and Zazas . European ethnic groups that form a diaspora in the region include Albanians , Bosniaks , Circassians (including Kabardians ), Crimean Tatars , Greeks , Franco-Levantines , Italo-Levantines , and Iraqi Turkmens . Among other migrant populations are Chinese , Filipinos , Indians , Indonesians , Pakistanis , Pashtuns , Romani , and Afro-Arabs . "Migration has always provided an important vent for labor market pressures in

17017-589: The revolutionary cement jet mixer, to eliminate hand-mixing of cement, and the measuring line, a tool used to guarantee cementing accuracy. By 1922, the Halliburton Oil Well Cementing Company (HOWCO) was prospering from the Mexia, Texas oil boom, having cemented its 500th well in late summer. In 1924, the company was incorporated in Delaware , with 56 people on its payroll. The stock of the corporation

17160-464: The rising influence of the United States from the 1970s onwards. In the 20th century, the region's significant stocks of crude oil gave it new strategic and economic importance. Mass production of oil began around 1945, with Saudi Arabia, Iran, Kuwait, Iraq, and the United Arab Emirates having large quantities of oil. Estimated oil reserves , especially in Saudi Arabia and Iran, are some of

17303-512: The run-up to the Iraq War, Halliburton was awarded a $ 7 billion contract for which only Halliburton was allowed to bid. Bunnatine Greenhouse , a civil servant with 20 years of contracting experience, had complained to Army officials on numerous occasions that Halliburton had been unlawfully receiving special treatment for work in Iraq, Kuwait and the Balkans. Criminal investigations were opened by

17446-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

17589-516: The term describes an area identical to the term Middle East , which is not used by these disciplines (see ancient Near East ). The first official use of the term "Middle East" by the United States government was in the 1957 Eisenhower Doctrine , which pertained to the Suez Crisis . Secretary of State John Foster Dulles defined the Middle East as "the area lying between and including Libya on

17732-470: The well, causing the explosion that started the crisis. Halliburton pleaded guilty to destroying evidence after the April 2010 Deepwater Horizon disaster; the company destroyed computer simulations it performed in the months after the accident, simulations that contradicted Halliburton's claim that it was BP who had not followed Halliburton's advice. BP had employed Halliburton to oversee the process by which cement

17875-511: The west and Pakistan on the east, Syria and Iraq on the North and the Arabian peninsula to the south, plus the Sudan and Ethiopia ." In 1958, the State Department explained that the terms "Near East" and "Middle East" were interchangeable, and defined the region as including only Egypt , Syria, Israel , Lebanon , Jordan , Iraq, Saudi Arabia , Kuwait , Bahrain , and Qatar . Since

18018-568: The western Middle East and until the Muslim expansion it was widely spoken there as well. Until the late 11th century, it was also the main spoken language in Asia Minor ; after that it was gradually replaced by the Turkish language as the Anatolian Turks expanded and the local Greeks were assimilated, especially in the interior. English is one of the official languages of Akrotiri and Dhekelia. It

18161-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

18304-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

18447-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

18590-643: Was CEO of Halliburton, may have violated the Trading with the Enemy Act . A Halliburton spokesman, responding to inquiries from Dow Jones , said "This is not breaking any laws. This is a foreign subsidiary and no U.S. person is involved in this. No U.S. person is facilitating any transaction. We are not performing directly in that country." No legal action has been taken against the company or its officials. Later, David J. Lesar, Halliburton's chief executive, announced that Halliburton would withdraw from Iran. In April 2002, KBR

18733-411: Was also the "ideological conflict" between the two systems. Moreover, as Louise Fawcett argues, among many important areas of contention, or perhaps more accurately of anxiety, were, first, the desires of the superpowers to gain strategic advantage in the region, second, the fact that the region contained some two-thirds of the world's oil reserves in a context where oil was becoming increasingly vital to

18876-462: Was awarded a $ 7 million contract to construct steel holding cells at Camp X-Ray . In November 2002, KBR was tasked to plan oil well firefighting in Iraq, and in February 2003 was issued a contract to conduct the work. Critics contend that it was a no-bid contract , awarded due to Dick Cheney's position as vice president. Concern was also expressed that the contract could allow KBR to pump and distribute Iraqi oil. Others contend, however, that this

19019-611: Was based in Cairo , for its military forces in the region. After that time, the term "Middle East" gained broader usage in Europe and the United States. Following World War II, for example, the Middle East Institute was founded in Washington, D.C. in 1946. The corresponding adjective is Middle Eastern and the derived noun is Middle Easterner . While non-Eurocentric terms such as "Southwest Asia" or "Swasia" have been sparsely used,

19162-563: Was customary to refer to areas centered around Turkey and the eastern shore of the Mediterranean as the " Near East ", while the " Far East " centered on China , India and Japan . The Middle East was then defined as the area from Mesopotamia to Burma , namely, the area between the Near East and the Far East. In the late 1930s, the British established the Middle East Command , which

19305-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

19448-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

19591-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

19734-528: Was later demoted for poor performance in her position. Greenhouse's attorney, Michael Kohn, portrayed her performance reviews as punishment for criticizing the administrations. He stated in The New York Times that "she is being demoted because of her strict adherence to procurement requirements and the Army's preference to sidestep them when it suits their needs." An internal report released in 2010 by BP into

19877-439: Was not strictly a no-bid contract, and was invoked under a contract that KBR won "in a competitive bid process." The contract, referred to as LOGCAP, is a contingency-based contract that is invoked at the convenience of the Army. Because the contract is essentially a retainer, specific orders are not competitively bid (as the overall contract was). In May 2003, Halliburton revealed in SEC filings that its KBR subsidiary had paid

20020-604: Was owned by Erle and Vida Halliburton and by seven major oil companies: Magnolia, Texas, Gulf, Humble, Sun, Pure and Atlantic. In 1926, its first foreign venture began with sale of equipment to Burma and India . Throughout the 1930s and 1940s, Halliburton continued cementing across America. In 1938, Halliburton cemented its first offshore well using a truck on a barge off the Louisiana coast. In 1940, Halliburton opened offices in Venezuela and introduced bulk handling of cementing to

20163-402: Was promoted to President of Halliburton on August 1, 2014, and CEO on June 1, 2017, replacing Dave Lesar . The company has dual headquarters located in Houston and in Dubai , but it remains incorporated in the United States. Energy services (the company's historical cornerstone), formation evaluation , digital and consulting services , production volume optimization, and fluid systems are

20306-402: Was pumped in 1983. In 1989, Halliburton acquired logging and perforating specialist company Gearhart Industries and combined it with its subsidiary Welex to form Halliburton Logging Services. Throughout the 1980s, Halliburton's subsidiaries continued their projects around the world (under management of former CEO Brian Darcy) even in countries once considered enemies. Equipment was provided for

20449-401: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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