InvestmentsTop Global NewsMarketsReal Estate Special Report-How oil majors shift billions in profits to island tax havens By financialnews_rlv83x - December 9, 2020 0 89 Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for European oil giant Royal Dutch Shell Plc.