We all know how things turned out when Russia nationalized McDonalds.
By David Wethe
Baker Huges Co. (click here) has become the second of the big three oilfield service providers to plan a sale of its Russian business to local employees following international sanctions after the invasion of Ukraine.
The No. 2 global crude contractor will sell its oilfield services unit in Russia to its local management team for an undisclosed price in a deal that’s expected to close in the second half, according to a statement Monday. The Houston-based company took a $365 million charge in the second quarter for the suspension of all oil drilling and other work in Russia.
Halliburton Co. said late last month it executed a non-binding letter of intent with its Russian employee group in May and is negotiating final sale documents. Schlumberger, the world’s biggest oilfield contractor, hasn’t gone as far as rivals to disengage from the oil and natural gas powerhouse. It says its unique corporate structure gives it flexibility to work in Russia while complying with sanctions....
While on the subject of Halliburton, a little "oil baron" trivia.
By Sami Zaptia
The Tripoli-based Libyan Ministry of Oil and Gas (click here) has refuted reports that U.S. oil services company, Halliburton, has evacuated its employees from Libya’s oilfields
The Oil Ministry said it reassures the Libyan oil sector that what was published regarding the departure of the Halliburton ‘‘is a distortion of reality and has no basis’’.
It stated that Halliburton is still continuing its normal work with the Libyan oil sector, and that it is a large and experienced company that manages its operations professionally.
The Oil Ministry’s rebuttal comes after social and traditional media news alleged that Halliburton was evacuating its staff, implying that fighting was about to take place between Libya’s opposing militias.
HALLIBURTON COMPANY (HAL) (click here)
Nobody is dumping Halliburton because of the Russian war into Ukraine. It has a good return on investments.
July 10, 2022
...Return on equity can be calculated by using the formula: (click here)
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Halliburton is:
22% = US$1.6b ÷ US$7.0b (Based on the trailing twelve months to March 2022).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.22.
Does Halliburton Have A Good Return On Equity?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Halliburton has a better ROE than the average (5.7%) in the Energy Services industry.
