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Fire boat crews battle the blazing remnants of the offshore oil rig Deepwater Horizon, off Louisiana, on April 21, 2010. (HANDOUT/Reuters)
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Lost time may cost Transocean far more than Gulf spill fines
The Macondo oil spill has cost Transocean more than money. The U.S. oil services firm will pay the U.S. government $1.4-billion (U.S.) for its role in BP’s Gulf of Mexico disaster in 2010. That’s a modest sum. But shares in the $18-billion Transocean have lagged those of rivals in the meantime as it avoided heavy investment.
