BP asks Transocean: Now will you pay?

Integrated oil giant BP has again called on US oil services company Transocean to put its hand in its pocket to pay its share of the clean-up costs for the Macondo oil spill after a US court ruling on Thursday relating to the Deepwater Horizon tragedy.

By MoneyWeek

published 27 January 2012

in Features

The ruling makes clear that contractors will be held accountable for their actions under the law, a BP statement said. "While all official investigations have concluded that Transocean played a causal role in the accident, the contractor has long contended it is fully indemnified by BP for the liabilities resulting from the oil spill. The Court rejected this view," BP observed.

More to follow ...