More on "grossly negligent" ruling against BP

|About: BP p.l.c. (BP)|By:, SA News Editor

"Court finds and concludes that the discharge of oil was the result of BPXP's 'gross negligence' and 'willful misconduct'" under the Clean Water Act, U.S. District Judge Carl Barbier wrote in the decision that may force BP (BP -4.5%) to pay as much as $18B in total civil penalties related to the 2010 Gulf of Mexico oil spill.

“BP’s conduct was reckless... Transocean’s conduct was negligent. Halliburton’s conduct was negligent," Barbier wrote in apportioning fault for the disaster at 67% for BP, 30% for Transocean (RIG +1.5%) and 3% for Halliburton (HAL +0.2%).

Barbier did not rule on how much oil was spilled, a key factor in determining the extent of BP’s liability.