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Rolls-Royce downgrades offshore by millions of US dollars

The engine manufacturer is facing up to the consequences of the tough offshore market and significantly downgrades its profit expectations for the company's 2016 offshore activities.

Rolls-Royce has accepted the reality of the offshore crisis and downgraded its outlook for demand in offshore marine by 5-20 percent, according to a company press release.

The downgrade applies to the demand within offshore marine for 2016, where it is estimated that the crisis will cost the marine sector between USD 114 million - USD 152 million. 

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