Halliburton's Subsidiary caught bribing officials in Nigeria

Halliburton was once run by Vice President of the United States, Dick Cheney between 1995 until August 2000.

Halliburton's subsidiary is Kellogg Brown and Root (KBR), which won a US $ 7 Billion contract without any bidding to manage Iraq's oil services.

Read here List of US companies that won contracts for Iraq reconstruction and HERE on Kellog Brown and Root's contract awarded for Iraq reconstruction.

The subsidiary admits it had paid a Nigerian tax official $US2.4 million ($A3.75 million) in bribes to get favourable tax treatment.

AFP reports on the Nigerian bribery connection :

"The payments were made to obtain favourable tax treatment and clearly violated our code of business conduct and our internal control procedures," Halliburton said in a regulatory filing.

KBR is building a liquified natural gas plant and an offshore oil and gas terminal in Nigeria. Halliburton told the US Securities and Exchange Commission (SEC) the bribe was discovered during an audit of KBR's Nigerian office.

"Based on the findings of the investigation, we have terminated several employees," it said, adding none of its senior officers was involved in the bribe. We are cooperating with the SEC in its review of the matter," Halliburton said.

"We plan to take further action to ensure that our foreign subsidiary pays all taxes owed in Nigeria, which may be as much as an additional $US5 million ($A7.8 million), which has been fully accrued."

Halliburton said its code of business conduct and internal control procedures were "essential" to the way it ran its business.

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