Oil Spill Nets $270m for Transocean

The firm that owns the leaking oil rig in the Gulf of Mexico has made a $270 million profit from insurance payouts, despite having caused a massive ecological disaster.

Transocean, the company contracted by BP to drill the well, brought the story to light in a conference call on Monday.

Transocean took out a $560 million insurance policy on its Deepwater Horizon rig, which was greater than the value of the rig itself.'

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