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Oil Drillers Under Pressure to Scrap Rigs to Cope With Downturn
2014-12-24 09:39:41| Oil & Gas - Topix.net
Offshore oil-drilling contractors, who last year were able to charge record rates for their vessels, are now under pressure to scrap old rigs at an unprecedented pace. The recent five-year low in oil prices is threatening an industry already grappling with a flood of new vessels and weakening demand.
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Category:Energy and Environment
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