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Transocean CEO steps down, dividend slashed on oil slump

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The offshore sector had been struggling before the latest price downturn as exploration and production companies turned their attention to the US onshore shale boom.

Vernier

THE chief executive of Transocean, one of the world's top offshore drilling companies, is stepping down and the company is slashing its dividend as business slows on tumbling crude oil prices.

Transocean said on Sunday that chairman Ian Strachan, who previously held

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