Oil giant BP has lost its attempt to shift over $15 billion (9 billion pounds) of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill.
A U.S. federal judge on Thursday said BP must uphold a clause in its contract with Transocean Ltd that would shield the Swiss-based driller from compensatory damage claims related to the 2010 disaster.
Oil giant BP has lost its attempt to shift over $15 billion (9 billion pounds) of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill.
A U.S. federal judge on Thursday said BP must uphold a clause in its contract with Transocean Ltd that would shield the Swiss-based driller from compensatory damage claims related to the 2010 disaster.
Source: Reuters UK
