Sinopec Oilfield Service Corp. (600871.SH), a subsidiary of China's top refiner Sinopec Corp. (SNP.NYSE; 00386.HK; 600028.SH), announced on late Thursday that the company is estimated to incur losses of 2.06 billion yuan in the first three quarters of this year.
The global oilfield service market remained sluggish in the third quarter as domestic and overseas oil companies reduced spending in upstream exploration and development amid low oil prices, the company said in a filing with the Shanghai Stock Exchange.
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