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Transocean Ltd To Pay $1.4 Bln For Role In BP Oil Spill-Reuters

Thursday, 3 Jan 2013 06:48pm EST 

Reuters reported that Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges over BP Plc's massive Gulf of Mexico oil spill in 2010 and the rig contractor admitted that its crew on the Deepwater Horizon was partly responsible. Transocean, which employed nine of the 11 workers killed in the accident, had set aside $1.5 billion for the U.S. Department of Justice out of a $1.95 billion Macondo loss provision. The settlement, unveiled on January 3, 2013 by the DoJ, includes $1 billion in civil penalties and $400 million in criminal penalties. 

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1.44 +7.89%
19 Dec 2014