Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Halliburton profits down 25% in Q4

    Halliburton profits down 25% in Q4

    January 27, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    27 January 2013 – Halliburton has seen quarterly net income fall 25% year-on-year in the fourth quarter, down to $672 million from $907 million in the final three months of 2011.

    The bottom line, garnered from three-monthly revenues of $7.3 billion, was up on the third quarter’s $604 million from revenues of $7.1 billion.

    Halliburton admitted it had been hit by lower activity levels in North America, where the declining US land rig count saw regional quarterly revenues dip from $3.14 billion to $2.97 billion year-on-year.

    The Houston-headquartered, New York-listed provider said that there had been an “unusually high post-Thanksgiving decline in activity levels with key customers” in addition to guar cost and price pressure woes.

    However, the company said this had been offset by strong growth internationally, particularly in the Middle East and Latin America.

    For 2012 as a while, Halliburton earned $28.5 billion in revenues, an increase of 15% on 2011’s $24.8 billion, but net income fell 7.5% from $2.84 billion to $2.64 billion.

    Halliburton put shrinking profits down to higher guar costs, price pressure on production enhancement services in North America and a $300 million charge for an estimated loss contingency related to the Macondo disaster.

    Chief executive Dave Lesar pointed out that in 2012 “from a revenue perspective, we set new records this year in all of our regions and both of our divisions”.

    He said Latin America and the Eastern Hemisphere had both posted rises of more than 10% in revenues, a trend he expected to continue this year, and that other regions were also up.

    The company said it expected the North American rig count in 2013 to rise from Q4 but fall from 2012 as a whole, suggesting further profit and revenue dips on the way for the region.
    *Bill Lehane, Upstreamonline

    Related News

    ‘Cross-border financial crimes draining billions from West, Central Africa’ 

    Afreximbank launches 2025 Report on African trade

    Ghana approves $2.8bn debt relief deal with creditor nations

    E-book
    Resilience Exhibition

    Latest News

    NNPC raises alarm over sabotage campaign targeting leadership, reforms

    June 27, 2025

    WTO hails Nigeria Customs as continental model for trade facilitation

    June 27, 2025

    Renaissance Africa Energy unites 500 CEOs to advance Nigeria’s oil & gas growth

    June 27, 2025

    Customs seizes N3.6Bn illegal export in Owerri 

    June 27, 2025

    Seafarers’ Day: Minister launches NIMASA maritime labour e-platform

    June 27, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.