Photographer: Angel Navarrete/Bloomberg

Keppel Sees Prolonged Dearth of Oil-Rig Orders Amid Glut

  • Company’s profit plunged 48% to lowest in almost a decade
  • Rig-builder expects long, harsh ‘winter’ for its business

Keppel Corp., the world’s largest builder of oil rigs, sees little prospect of an improvement in global demand amid a supply surplus that’s caused quarterly profit to fall to the lowest in almost a decade.

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