HOUSTON — Halliburton Co. will pull out of Iran after its current contracts there are wound down, its chief executive said Friday.
"The business environment currently in Iran is not conducive to our overall strategy and objectives," Chief Executive Dave Lesar said in a conference call.
The Houston-based company, formerly headed by Vice President Dick Cheney, has been criticized for its work in Iraq, where it is the largest private contractor with revenue totaling more than $10 billion.
The company is under investigation for possible overcharges for fuel and food services connected to its Iraq contracts.
Halliburton said in July that it had received a subpoena seeking information about operations in Iran of its Cayman Islands subsidiary, Halliburton Products & Services Ltd.