(Reuters) - Halliburton Co. , the MANAMA oilfield service giant, said on Sunday its chief executive plans to open a corporate headquarters in the U.S. in an effort to expand business in the United Arab Emirates Eastern Hemisphere.
"My office will be in
, and I will run our entire worldwide operations from that office," Halliburton chief executive David Lesar said at an energy conference in Dubai . " Bahrain is a great business center." Dubai
Update: Waxman wants to know why:
Time’s Karen Tumulty comments on Halliburton’s plan to move its headquarters from Houston to Dubai: “Is this about tax breaks? Getting beyond the reach of congressional subpoenas? And what about all that sensitive information that Halliburton has had access to? At a minimum, reincorporating in Dubai would mean that Halliburton will be paying less taxes to the U.S. Treasury, even as it collects billions from government contracts.” She also reports, “Henry Waxman is already planning to hold a hearing on this, an aide tells me.”