Transocean to pay $1.4 billion in Deepwater spill
WASHINGTON - Transocean Ltd has agreed to pay $1. 4 billion to settle U.S. government fees occurring from BP Plc's substantial 2010 Deepwater Horizon 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 the spill, consisting of $1. 5 billion for its anticipated settlement with the DoJ. Shares of Transocean were up 7 percent at $49. 50 on midday trading on the New York Stock Exchange. The Standard & Poor's 500 Index was up 0. 1 percent. "The bottom line to me is they now can put away the big black cloud that has been hanging over them," said Phil Weiss, an oil analyst at Argus.
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Phil Weiss
Overall Sentiment: 0
Relevance: 0.744252
| Sentiment | Quote |
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| 0 | "The bottom line to me is they now can put away the big black cloud that has been hanging over them," said Phil Weiss, ... |
| 0.227687 | "The bottom line to me is they now can put away the big black cloud that has been hanging over them," said Phil Weiss, an oil analyst at Argus. "I take this as a positive, even if the number is a little higher than I expected." |
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Additional Info:
Region: Gulf of Mexico
Overall Sentiment: -0.0326076
Relevance: 0.601321
City: WASHINGTON
Overall Sentiment: 0.152208
Relevance: 0.537175
Disambiguation: AdministrativeDivision | GovernmentalJurisdiction | MilitaryPost | PlaceWithNeighborhoods | USCountyReferences:
Country: U.S.
Overall Sentiment: 0.175652
Relevance: 0.461763
Disambiguation: Location | Region | AdministrativeDivision | GovernmentalJurisdiction | FilmEditorReferences:
Organization: DoJ
Overall Sentiment: -0.385849
Relevance: 0.929678
Disambiguation: GovernmentAgency | GovernmentalBody | GovernmentalJurisdictionReferences:
Company: Transocean Ltd
Overall Sentiment: 0.19041
Relevance: 0.918088
Company: Transocean
Overall Sentiment: 0.0970934
Relevance: 0.864714
Disambiguation: References:
Company: BP Plc
Overall Sentiment: 0.0680919
Relevance: 0.693309
Disambiguation: Brand | AwardWinner | ProjectParticipantReferences:
FinancialMarketIndex: Standard & Poor's 500 Index
Overall Sentiment: 0
Relevance: 0.708992
FinancialMarketIndex: New York Stock Exchange
Overall Sentiment: 0
Relevance: 0.567365
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Transocean Ltd has agreed to pay $1.4 billion to settle U.S. government charges arising from BP's massive 2010 Deepwater Horizon oil spill disaster in the Gulf of Mexico.
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Transocean to pay $1.4 billion in Deepwater spill
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