SINGAPORE: Keppel Corp, the world’s biggest oil rig maker, said Thursday it cut 10,600 jobs last year and mothballed two overseas shipyards as weak crude prices continued to batter the industry.

The cuts were in the conglomerate’s Offshore and Marine (O&M) division, which has been hard hit by the downturn in oil and gas exploration following a prolonged slump in crude prices since 2014.

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