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Offshore Oil’s $105 Billion Hangover Adding to Industry Woes

By Peter Millard, Laura Hurst and David Wethe (Bloomberg) –Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap. The cost worldwide: An estimated $104.5 billion […]

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