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article imageHalliburton profit rises 83%, $483 million, in second-quarter

By Andrew Moran     Jul 19, 2010 in Business
Houston - Despite its involvement in the BP oil spill that caused billions of dollars in environmental and wildlife damage, Halliburton's profit soared 83 percent during the second-quarter because of oil and natural gas drilling projects in the United States.
Even though the U.S. government banned deepwater drilling in the Gulf of Mexico, oil giant Halliburton announced a second-quarter profit of 83%, or $483 million, because of oil and natural gas drilling activities across the U.S., according to the Associated Press.
The company’s net income is up more than $200 million during the April to June period from one year ago, even after its disastrous involvement in April’s oil disaster in the Gulf of Mexico.
BBC News reports that Halliburton’s shares on Wall Street rose 5 percent to $28.89 in pre-opening trade on Monday. After April’s oil incident, Halliburton’s shares dropped 17 percent.
After the government imposed the ban, Halliburton forecasted, reports Press TV, that its share value would drop between 5 and 8 cents during each quarter for the rest of 2010.
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