Transocean admits guilt over BP spill

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Transocean has agreed to pay the equivalent of just over one billion euros to settle US government charges over BP’s massive Gulf of Mexico oil spill in 2010.

The Swiss based rig contractor admitted its crew on the Deepwater Horizon was partly responsible.

Transocean still has to settle with more than 100,000 individuals and business owners claiming economic and health damages.

After the settlement with the US Department of Justice was announced Transocean’s share rose, as did BP’s.

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