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Offshore News

New Jersey picks Danish firm Orsted for wind energy project

Danish renewables firm Ørsted’s 1.1-GW Ocean Wind project is the winner of New Jersey’s first award for offshore wind, the New Jersey Board of Public Utilities (NJBPU) said on June 21.

EU to remove Panama, South Korea from tax haven blacklist

Brussels - The EU will remove Panama, South Korea and six other countries from its recently unveiled tax haven blacklist in a quick reversal that drew criticism from activists.

Panama eyes S. Korea alliance to get off EU tax haven list

Panama - Panama is looking to join forces with South Korea as it wages a "diplomatic offensive" to get off a newly unveiled EU tax blacklist, officials from the Central American nation said Thursday.

Marshalls decries inclusion on EU tax blacklist

Majuro - The Marshall Islands has described its inclusion on a European Union tax haven blacklist as "sad", with the Pacific nation's chamber of commerce alleging the move was politically motivated.

EU considers Panama, S.Korea for tax haven blacklist

Brussels - European Union ministers haggled over a credible blacklist of non-EU tax havens, with about 10 countries including Panama and South Korea in danger of being publicly chastised for facilitating tax evasion.

EU divided over tax haven blacklist

Brussels - European Union ministers will haggle on Tuesday to draw up a blacklist of non-EU tax havens, with about 20 countries in danger of being publicly exposed for facilitating tax evasion.

Apple tax avoidance plan laid bare in leaked documents

San Francisco - Apple shifted much of its offshore wealth from Ireland to a tax haven in the British Isles, according a review of leaked Paradise Papers documents Monday.

Brazil ministers deny wrongdoing in Paradise Papers leak

Bras - Two Brazilian cabinet ministers whose names appear in the Paradise Papers said Monday that there was nothing illegal in keeping funds in an offshore account.

US commerce chief defends Russian business links

London - US Commerce Secretary Wilbur Ross has defended personal business links to Russia revealed by the Paradise Papers, in an interview with the BBC on Monday.

UK Queen's private estate invested in offshore funds: leaks

London - Millions of pounds from the private estate of Britain's Queen Elizabeth II have been invested in offshore tax haven funds, a huge new leak of financial documents revealed on Sunday.Around £10 million ($13 million, €11.

U.S. companies have $2.1 trillion worth of profit stored overseas

The U.S. Congress must find a way to tax offshore profits stored by some of the world's largest corporations. Currently letting their earnings safely mount up abroad, lawmakers are considering a special "deluxe" tax rate to get money from the companies.

Massive offshore tax haven file leaks expose secrets of the rich

A massive leak of records of the global offshore financial system has revealed financial secrets relating to more than 120,000 offshore companies and trusts and exposed secret dealings of politicians, international fraudsters and the world's rich.

Op-Ed: The competitive advantage of higher education in America

With nations such as China, India and Japan using their competitive advantages of lower wages, Western nations such as the US are being rapidly replaced.

BP, Obama race to settle Deepwater lawsuit before Feb. trial date

New Orleans - Back on track, oil behemoth BP announced on Tuesday it made $24 billion in 2011, and as a February 27 trial date over the 2010 Deepwater Horizon debacle approaches, the company’s lawyers are being accused of “hide-and-stall tactics.”

North Sea oil spill to disperse ‘naturally,’ says Shell

London - The Royal Dutch Shell oil spill which started last week may have leaked hundreds of tons of oil into the North Sea, but a UK government agency has issued a statement saying the oil is not expected to touch shorelines, as it will disperse “naturally.”

Op-Ed: New offshore drilling bill another ‘wake-up call’ for Americans Special

Washington - As gasoline prices continue surging almost on the same level as oil company CEO compensation packages, House Republicans late last week passed a bill that would force the White House to allow more offshore drilling.

Oil drilling moratorium on Georges Bank extended

Halifax - Canada's federal and Nova Scotia governments have extended the moratorium on oil and gas exploration and drilling on Georges Bank to December 31, 2015. They say the massive oil spill in the Gulf of Mexico had little to do with their decision.

Bill offered: End tax evasion by rich, penalize bank accomplices

A bill introduced in the U.S. Congress targets tax cheaters and the banks who help them. It is estimated that the U.S. loses $100 billion annually to offshore tax evasion. The bill, introduced and supported by Democrats, is not supported by Republicans.

Democrats Set to Let Offshore Drilling Ban Expire

The Democrats have decided to let the quater of a century ban of offshore drilling expire. The action will open up the Pacific and Atlantic coasts for oil exploration and drilling.

Will the U.S. Offshore Drilling Bill Die or be Vetoed?

Tuesday night the House of Representatives approved the extensive Comprehensive American Energy Security and Consumer Protection Act to relax the federal ban on offshore drilling and to expand renewable energy.

Giant Offshore Wind Farm Approved

Cape Cod has been approved by State authorities to have the first offshore wind-powered farm in the US. However, there is opposition to the project from state politicians and business leaders who have homes on Cape Code, Martha's Vineyard and Nantucket.

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Artist s impression of CNG s offshore nuclear plant
Artist's impression of CNG's offshore nuclear plant
Artist s conception of floating power plant alongside a drilling platform.
Artist's conception of floating power plant alongside a drilling platform.

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