Nearly three years after a deadly rig explosion in the Gulf of Mexico triggered the nation's worst offshore oil spill, a federal judge in New Orleans is set to preside over a high-stakes trial for the raft of litigation spawned by the disaster.

Tagged with: BP Clean Water Act Justice Department oil spill Transocean

The U.S. Justice Department and the five Gulf coast states affected by a massive oil spill nearly three years ago have indicated they would like to settle their environmental and economic claims with BP PLC ahead of a trial scheduled to start next week.

Tagged with: BP Clean Water Act Justice Department settlement Transocean

A federal judge on Tuesday approved Transocean Ltd.'s agreement with the Justice Department to pay $1 billion in civil penalties for its role in the massive 2010 oil spill in the Gulf of Mexico.

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A federal judge has approved Transocean Ltd.'s agreement with the Justice Department to plead guilty to a misdemeanor charge and pay $400 million in criminal penalties for its role in the 2010 Gulf of Mexico oil spill.

Tagged with: Clean Water Act plea deal Transocean

Now that a $4 billion plea deal has resolved BP's criminal liability for the massive Gulf of Mexico oil spill nearly three years ago, the company will turn its focus to a trial that could potentially cost it billions of dollars more in civil penalties.

Tagged with: BP Clean Water Act Justice Department Transocean