Standard oil industry practice suggests that - unless gross negligence can be proved at...

|By:, SA News Editor

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.