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Halliburton books billion dollar loss

Major US oil company Halliburton is struggling with customers who are hesitant to spend money, as well as declining oil prices.

Photo: David Zalubowski/AP/POLFOTO

Just days after the news of a failed merger with a competitor, a transaction that was valued at several billion dollars, major US oil company Halliburton has taken yet another hit. The company is struggling with customers who are unwilling to, as well as sliding oil prices.

The oil service company, based in Houston, finished the first quarter of 2016 with a loss of USD 2.4 billion against a loss of USD 643 million for the same period last year, writes Bloomberg News.

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