Tag: transocean

Insurance news isn’t working in favor of BP

Julie Campbell
insurance news Deepwater Horizon Oil Spill 2010

The oil giant has now lost its bid for the coverage of $750 million toward the Transocean spill. The Texas Supreme Court has now made a ruling that brings devastating insurance news to BP, which has learned that the Transocean Ltd. policies for the 2010 disaster in the Gulf of Mexico will not be providing the company with the $750 million that it had been seeking from them to cover the costs of the spill. The decision against BP directly conflicts with one that had been made last year by…

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Oil insurance payout of $750 million for Transocean sought by BP

Julie Campbell
bp oil insurance

The company is attempting to use a technicality to convince a court to permit them access to policies. BP, which has paid over $28 billion in order to cover the costs of the oil spill disaster in the Gulf of Mexico, which occurred in 2010, is now attempting to receive $750 million of that amount back again by working to convince a court in Texas that it should be able to access oil insurance that covered Transocean Ltd. BP is hoping that a missing comma would show that it is…

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