Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
News Article Details

Transocean Chief Executive Hoping for Oil Spill Settlement

Source: AP

Back | A- | A+
 Email This     Print     Subscribe

Posted on 27 Mar 2012


The head of Transocean Ltd. says the company is hoping for a comprehensive legal settlement of claims resulting from the BP oil spill.

Transocean chief executive Steve Newman told a conference of investment analysts in New Orleans on Monday that such a settlement would have "to recognize the relationship" between a drilling company and a drilling site operator.

The Swiss company leased the Deepwater Horizon rig to BP to drill a deep-sea well off the Louisiana coast. An April 2010 blowout killed 11 workers and caused the nation's worst offshore oil spill.

Last week, a federal judge dismissed an investors' suit alleging top Transocean executives misled shareholders about safety problems in the months leading up to disaster.



Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000