MARKETS

Subsea 7 dives further into the red

OFFSHORE energy contractor Subsea 7 posted a US$43 million (A$59.5 million) loss for the third quarter as work dried up in the wake of COVID-19 and a dampening in exploration caused by the oil price crash of April.

paul hunt

The engineering, construction, and services contractor, which works across Australian major oil and gas projects as well as internationally, has now booked losses amounting to about $1 billion year-to-date. ...

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