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

Transocean Ltd has agreed to pay $1.4 billion (867 million pounds) to settle U.S. government charges arising from BP Plc's massive 2010 Macondo oil spill in the Gulf of Mexico.

The settlement unveiled by the Department of Justice includes $1 billion in civil penalties and $400 million in criminal penalties. The company had set aside a total of $1.95 billion in potential losses related to Macondo, including $1.5 billion for its anticipated settlement with the DoJ.

Read More on International Business Times

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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