KBR Makes Concession in Alleged Overcharges
Halliburton Co. subsidiary KBR has agreed to lop $9 million off sole-source contracts paid for by the U.S. government with Iraqi oil money after auditors questioned $208 million in possible overcharges, an international watchdog agency said.
The International Advisory and Monitoring Board said it only recently learned of the Dec. 22 settlement between the Pentagon and KBR.
The contracts were part of $1.4 billion in pacts awarded to KBR on a noncompetitive basis to procure supplies of fuel while Washington administered Iraq.
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