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BP Sues Transocean for $40 Billion over Gulf Oil Spill

 Thursday, April 21, 2011

 Insurance Journal

On the first anniversary of the Gulf of Mexico oil spill, BP Plc sued Transocean, seeking at least $40 billion in damages and other costs from the owner of the Deepwater Horizon rig. London-based BP also sued Cameron International Corp for negligence, saying a blowout preventer made by Cameron failed to avert the catastrophe. Both complaints were filed Wednesday in federal court in New Orleans.
Eleven people died when the Deepwater Horizon rig exploded. About 4.9 million barrels, or more than 200 million gallons, of oil later flowed out of a subsurface BP well.