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China Oilfield Services Limited (COSL) is expected to significantly narrow its first half loss compared to the year-ago period, due partly to improved asset utilisation and increased contributions from its technology business.

China Oilfield Services Limited (COSL) has narrowed its first quarter loss compared to the year-ago period, aided by improved contributions from businesses in its various oilfield services segments.

China Oilfield Services Limited (COSL) has reported a loss of RMB11.46bn ($1.66bn) in 2016 due mainly to huge impairments of approximately RMB7bn on the back of the weak offshore oilfield services market.

China Oilfield Services Limited (COSL) has warned investors of a net loss of RMB11.7bn ($1.7bn) for financial year 2016 due mainly to lower work volumes on the slump in oil prices.

Offshore oilfield service provider Tanjung Offshore saw its first half results sank into the red as revenue plunged, despite a swing to profit in the second quarter.

Nordic American Offshore (NAO) remained in the red in the second quarter of 2015 with a $400,000 loss.

UMW Oil & Gas (UMW-O&G) posted a second quarter net profit of MYR60.3m ($19.1m) on revenue of MYR238.8m as higher contributions form both the drilling and oilfield services segments helped boost revenue.

China Rongsheng Heavy Industries is venturing into the energy sector with an agreement to purchase 60% stake in an energy firm for HKD2.18bn ($281.3m).

As Greece prepares to assume the rotating six-month European Union presidency on 1 January 2014, an unlikely issue is becoming a focus point for the country and Europe as a whole. Developments in the energy sector are always watched with interest but if sea transportation is not involved, the energy sector is one few would associate with Greece.