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27 Jan 2012

Ed Crooks, Financial Times

BP blow in legal fight over gulf spill [USA]

BP has suffered a setback in its attempt to make Transocean, the drilling contractor, pay for the full costs of the Deepwater Horizon disaster in the Gulf of Mexico in 2010. Judge Carl Barbier...ruled...that BP should have to pay damages for losses suffered as a result of oil spilt below the surface, even if Transocean were found to have been grossly negligent in the disaster. However, he said Transocean should still be liable for any civil penalties under the Clean Water Act and punitive damages under the Oil Pollution Act, which could potentially run into the tens of billions of dollars.The decision left both sides claiming they had been vindicated. “Today’s ruling makes clear that contractors will be held accountable for their actions under the law,” BP said...Transocean said: “This [ruling] confirms that BP is responsible for all economic damages caused by the oil that leaked from its Macondo well and discredits BP’s ongoing attempts to evade both its contractual and financial obligations.” [also refers to Anadarko]