Standard oil industry practice suggests that - unless gross negligence can be proved at Transocean (RIG -0.2%) and Halliburton (HAL -2.7%) - BP (BP -2%) and Anadarko (APC -1.3%) bear the ultimate liability for clean-up and recovery costs in the Gulf of Mexico, writes David Phillips. Transocean filings point to indemnification from BP regarding subsurface risks related to loss of well control.
Standard oil industry practice suggests that - unless gross negligence can be proved at...
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