Offshore operator Seadrill has reported a weaker bottom line with financial losses taking a huge chunk out of its quarterly earnings.

Flatter profit but market improving
The Oslo-listed rig outfit posted earnings of $58m in the third quarter compared to $399m in the equivalent quarter last year.

Laying the profit low was a $330m hit on derivatives which, in the same period last year, had delivered a $76m gain.

Revenue,