Transocean to pay $1.4 billion for role in BP oil spill

Posted by Reuters: David Ingram on January 3rd, 2013
Reuters: Offshore rig contractor Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from BP Plc's massive oil spill in the Gulf of Mexico in 2010. The settlement unveiled on Thursday by the U.S. Department of Justice includes $1 billion in civil penalties and $400 million in criminal penalties. The company had set aside $1.95 billion in potential losses related to the Macondo well disaster, including $1.5 billion for its anticipated DoJ settlement. Still looming......

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