It's been almost two years since Earth Track and Oil Change International released a detailed review of oil and gas subsidies to Master Limited Partnerships (MLPs). The paper documented the favored exemptions that MLPs receive from standard corporate tax rules and how they primarily benefitted oil and gas companies; the increasing use of IRS private letter rulings to broaden the range of activities able to shelter natural resource-related income from corp
Transocean continues to innovate to avoid taxes everywhere; forming tax-favored Master Limited Partnership
Transocean owns operates complex offshore oil rigs, including the one that blew out in the Gulf of Mexico back in 2012, killing 11 workers and despoiling the Gulf of Mexico. There do not appear to be any similar lapses in its continued effort to push its taxes down as close to zero as possible, however.