Teekay Offshore is now officially Altera Infrastructure, and Teekay Shuttle Tankers has become Altera Shuttle Tankers.

The offshore company formally rebranded Tuesday, after its takeover by Brookfield Business Partners was completed in January.

"Upholding our uncompromised commitment to operational excellence and safety, we will be relentless in our pursuit of opportunities that lead to strong results and lower emissions and we stand firm to these principles through the current period of market volatility," chief executive Ingvlid Saether said.