Word: lesar
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Dates: during 2000-2009
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...players in Texas oil. Many Houston companies and law firms have already boosted their Middle Eastern presence, including Halliburton's business rivals, Baker Hughes and Schlumberger. Baker Hughes is building a regional headquarters and manufacturing center in the UAE and Schlumberger has a training center. Just one day after Lesar's announcement, Texas Gov. Rick Perry announced he will attend a three- day celebration marking the opening of permanent buildings at the Texas A&M University at Qatar, set to graduate its first engineering class in 2007 - evidence that the oil and gas industry will be relying on engineers trained...
...this year. The flights will utilize several of the Emirates' 44 recently purchased Boeing 777s and will come equipped with eight private first-class cabins. But that still places top energy executives 17 hours away from what is becoming the new center of the oil industry. Lesar's move shows Halliburton is aware of business customs in much of the Eastern Hemisphere. "It is very important in this part of the world to do business face-to-face," says Amy Myers Jaffe, a Princeton Arabic Studies graduate and current director of Rice University's Energy Program. She adds, "Halliburton...
...move, which was greeted as a "powerful statement" by Merrill Lynch industry analyst Alan Lewis, overshadowed a second part of Lesar's announcement: Halliburton stock will be listed on one of the Middle East's stock exchanges. Most analysts believe it will be the Dubai Financial Market. That, says Jaffe, will enable the company to gain access to the vast amount of capital in the region. It also serves a wider purpose: giving regional investors a stake in the stability of global companies. When nationally owned oil companies have been listed on various exchanges, Jaffe says, it has generally...
...first thing Halliburton chief executive David Lesar would need upon re-locating from Houston to Dubai, is a place to live. That won't be easy to find, even with a Texas-sized wallet - when it comes to property bonanzas, Dubai is a 21st century version of the California Gold Rush...
...prices continue rising. Whatever controversy the announcement that oil-services giant is re-locating its headquarters to Dubai may be generating on Capitol Hill, in the Gulf region it is being seen as validating Dubai's ambitions to become the new frontier of globalization. At High Society Real Estate, Lesar would learn that a one-bedroom apartment in his new hometown will cost anything from $200,000 to $2.9 million. A relatively commonplace property offered by High Society is a $1.4 million, five-bedroom, 7,469-sq.ft. villa in the Dubai Sports City complex. That...