BP partner agrees $1.4bn Deepwater payout

The company which leased the Deepwater Horizon rig to oil giant BP has been fined $1.4bn (€1.06bn) after admitting its role in the Gulf of Mexico disaster.

Swiss-based Transocean pleaded guilty to violating the Clean Water Act after its rig exploded in April 2010, killing 11 workers, and spilling millions of barrels of oil.