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Italy’s oil and gas contractor, Saipem released its third quarter earnings reporting significant losses. The firm is working at a pre-tax loss of £136 million, a loss of £50 million on the same period in 2017. This year, the firm went through a loss of £315m. CEO of Saipem commented “In what is still a complex context, the first nine months of 2018 Saipem revealed a good operational and managerial performance, in particular in Offshore Engineering & Construction and Drilling.”
