Reef Subsea enters bankruptcy

THE rout in crude prices continues to claim victims, with Norway-focused offshore oil and gas services player Reef Subsea entering bankruptcy yesterday.

Reef Subsea enters bankruptcy Reef Subsea enters bankruptcy Reef Subsea enters bankruptcy Reef Subsea enters bankruptcy Reef Subsea enters bankruptcy

According to Norway's Dagens Næringsliv, hundreds of employees are now expected to lose their jobs despite "sharp" downsizing efforts made during the summer season in an attempt to avoid ongoing cuts.

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