And, how Dick Cheney's firm hand on Halliburton nearly ran it into the ground, and traded with our enemies.
JULY 22: Abdulamir Mahdi, an Iraqi who'd come to Canada in his 20's owned a business that supplied oil fields in Iran with North American parts. His Toronto office places an order for $41,000 worth of Halliburton spare parts for a cementing unit in Iran.
He says before before the deals, he consulted with lawyers and Canada Customs who told him that the US embargo didn't apply to Canadians.
SEPTEMBER 25: Halliburton Energy Services prepares an invoice for spare parts that have been sold to Abdulamir Mahdi. The invoice puts Kuwait as the final destination for the parts. In fact, the equipment is headed for Kala Naft in Iran.
OCTOBER 7: In a purchase separate from the Mahdi transaction, Kala Naft’s London office, the purchasing arm for the National Iranian Oil Company asks Halliburton subsidiary in Dubai to send a price quote for purchases for the Iranian oil industry.
OCTOBER 16: Mahdi’s office receives a statement of compliance from Halliburton Energy Services in Texas saying the parts he ordered has been inspected and meet Halliburton and industry standards.
OCTOBER 30: Spare parts purchased by Mahdi are shipped to Canada for a Halliburton cement unit in Iran.
Halliburton is opposed to the U.S. embargo and lobbies congress against the Iran/Libya sanctions bill.
Cheney negotiates the purchase of Dresser Industries for $7.7 billion.
After the purchase, numerous asbestos related lawsuits hit the hybrid company. The claims forced several Halliburton divisions into bankruptcy. Halliburton’s stock falls 80 percent in one year.
MARCH: Abdulamir Mahdi is arrested in Florida during a sting operation. At the same time his office in Toronto and his home are searched by the RCMP.
NOVEMBER 22: Abdulamir Mahdi receives a 51-month sentence on one count of conspiracy to evade export regulations for sending equipment to Iran and Iraq. (read
about the case )
FEBRUARY: Halliburton opens an office in Tehran while Cheney is still CEO. At the same time, Halliburton ends its presence in Iraq.
SPRING: George Bush asks Cheney to help him find a vice-presidential running mate.