The U.S. Justice Department and Transocean Ltd. are reportedly close to settling a lawsuit that would resolve federal civil and criminal claims against the company for its role in the 2010 Gulf of Mexico oil spill. Transocean executives, however, cautioned in a regulatory filing that the $1.5-billion agreement hinged on a number of issues, including possible payment schedules. “There can be no assurance that the parties will enter into agreements on the terms described or at all,” Transocean’s filing with the Securities and Exchange Commission stated. Like BP, Switzerland-based Transocean, which owned and leased the Deepwater Horizon rig to BP ... Read More
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