Teekay Offshore Company Description
Oil produced offshore has to get to market somehow, and that's where marine transportation company Teekay Offshore Partners comes in. The company generates most of its revenue from its fleet of about 40 shuttle tankers, which are used to transport oil from offshore fields to onshore processing facilities. Teekay Offshore also owns conventional long-haul oil tankers and floating storage and offtake (FSO) units. Business from Norwegian oil and gas giant StatoilHydro accounts for about 40% of the company's sales; Teekay Offshore's parent company, tanker operator Teekay Corporation, accounts for another 20%. Teekay Corporation controls a majority stake in Teekay Offshore and owns its general partner.
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The Company Description provides a historical perspective of Teekay Offshore's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Teekay Offshore's evolution in the marketplace.
