Oil giants' profits flow partly into tax havens (lemonde.fr)

• Increased profit shifting to low-tax jurisdictions during commodity booms.
• Erosion of domestic tax bases in resource-rich states.
• Call for stricter tax regulation for extractive multinationals.

"Research from the International Tax Observatory indicates that multinational oil and gas corporations increasingly route profits through tax havens during periods of commodity price volatility. This strategic accounting shift deprives host nations of essential tax revenue during revenue surges, undermining domestic economic resilience. The study highlights a systemic tendency for major extractives to decouple fiscal contribution from operational footprint, suggesting that existing international tax frameworks are insufficient to capture the full economic value generated by fossil fuel assets during market peaks."