Halliburton to relocate headquarters to Dubai

| 3/12/2007

The Houston, TX-based Halliburton has announced plans to move its corporate headquarters to the United Arab Emirates nation of Dubai.

Halliburton currently operates in 120 countries in large oil production and construction projects. In Iraq, its subsidiary, Kellogg, Brown & Root, employs hundreds of civilian truckers to move military cargo - but Halliburton is in the process of spinning off KBR into its own independent corporation.

According to media reports, the move may save the company hundreds of millions of dollars in U.S. taxes.