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January 2013

BP Praises Transocean Settlement, Fingers Halliburton

In a brief statement, BP hails Transocean's admission of criminal conduct today in a $1.4 billion settlement stemming from the Deepwater Horizon oil-rig disaster in the Gulf of Mexico, saying it proves the "accident resulted from multiple causes,…

Transocean Admits Criminal Conduct, Pays $1.4 Billion

Transocean LLC today admitted criminal conduct in its handling of the Deepwater Horizon oil-rig disaster in the Gulf of Mexico and agreed to pay $1.4 billion in criminal and civil fines.
The civil portion—$1 billion—is by far the largest sum paid for…