Halliburton as the first of the Big Four service companies is leaving the Russian market

Halliburton, an oil service company headquartered in Houston (USA), has announced its complete withdrawal from the Russian market amid Russian aggression against Ukraine. The company is subject to sanctions that prohibit transactions and operations, including for some state-owned Russian customers.

Halliburton noted that a few weeks ago all supplies of specific spare parts to Russia were stopped. Halliburton does not currently have active joint ventures in Russia.

"We are very saddened by the war in Ukraine. We have employees in both Ukraine and Russia, and the conflict is affecting our employees, their families and loved ones throughout the region, ”said Jeff Miller, President and CEO of Halliburton. "From the very beginning of this conflict, we have given priority to the safety of employees and compliance with all relevant sanctions."

Other large oil and gas service companies Weatherford, Baker Hughes and Schlumberger continue to work with the occupier. Together with Halliburton, these companies are called the "big four" of the world's oil service companies.