Halliburton Cites Reduced Activity from Pemex
Halliburton announced a major reduction in activity from its primary customer in Mexico, Petróleos Mexicanos (Pemex), for the fourth quarter of 2009.
Halliburton's work in the Burgos, Veracruz, and southern areas are being impacted by Pemex's decision to significantly reduce activity due to low natural gas prices and other constraints. The impact of these activity reductions is currently expected to be approximately $0.02 in earnings per share for the fourth quarter of 2009.
Halliburton has operated in Mexico for more than 60 years.
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