Bermuda and oil industry tax

That this House notes recent research showing that the British Overseas Territory of Bermuda is a major hub for oil industry tax avoidance, and hosts the headquarters of three of the world’s top ten oil drilling contractors, four of the world’s ten biggest oil tanker companies, Shell and Chevron offices, and industry insurance companies; further notes the Iran war means oil companies are securing record profits, which Bermuda helps them avoid taxes on; and calls on the Foreign, Commonwealth and Development Office to investigate what further actions can be taken to stop the oil industry using British territories to avoid taxes around the world.