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State and federal offshore tracts together made up 16% of the state's oil production. [10] Notable offshore fields include the Ellwood Oil Field, which is partially onshore and partially offshore, and the Dos Cuadras Field, source of the 1969 spill, which is entirely within the federal zone.
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A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. [1]
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A shelf corporation, shelf company, or aged corporation is a company or corporation that has had no activity. [1] It was created and left with no activity – metaphorically put on the "shelf" to "age". The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a ...
The downside of a strategy of retaining profits offshore is that corporations may want or need to pay dividends to shareholders, or to make investments in the United States, besides other reasons. The alternative may be to borrow funds in the U.S., [3] or access the funds retained offshore in the form of inter-company loans.
TechnipFMC was formed through the merger of FMC Technologies Inc. and French oil-services Technip SA. On January 17, 2017, TechnipFMC announced that it is operating as a unified company after completion of the merger, which created a significant new player in an energy industry wracked by a nearly two-year slump in crude prices.
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