Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Swiss Transocean posts $71 million loss

Share this article

09:25 CET+01:00

Swiss offshore drilling group Transocean on Wednesday posted a $71 million loss in the third quarter.

The loss compared with a net profit of $368 million posted in the third quarter in 2010.

Transocean owned the Deepwater Horizon rig, leased by British energy giant BP, which exploded on April 20, 2010, killing 11 workers and causing millions of gallons of oil to pour into the Gulf of Mexico.

BP has sued Transocean for damages of $40 billion over the disaster and Transocean in turn, has counter-sued.

In April, the US Coast Guard slammed Transocean's "poor safety culture" in a report.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement