Company: Transocean Inc

NEW YORK (Reuters) - BP Plc <BP.L> appears to be well on its way to concluding an estimated $7.8 billion settlement to resolve most of its civil liability from the Gulf of Mexico oil spill. But a potential landmine lurks in the settlement documents: under certain circumstances, the company can invoke a little-noticed provision that allows it to walk away from the deal.

The federal judge who will decide whether to approve a class-action settlement of claims against BP PLC has scheduled a January 2013 trial for other claims spawned by the deadly blowout of the company's deepwater well in the Gulf Mexico.

Stocks recovered from an early decline to end narrowly mixed Wednesday, but worries over the weak ADP employment report kept investors on edge ahead of Friday's key jobs data.

Chevron never bought into North America's natural gas boom the way Big Oil peers like Exxon did.

In the war to find the best way to tackle oil spills, new research proves there’s no single “silver bullet” in the environmental recovery arsenal.

A settlement thatBP is hammering out with victims of the massive Gulf oil spill finally provides a system for monitoring health concerns and compensating people whose illnesses are found to have a link to the disaster.

Stocks finished mixed Friday, as investors digested a handful of tepid earnings and economic reports in addition to ongoing jitters in the euro zone. The S&P and Nasdaq posted their fourth weekly gains, while the Dow finished in negative territory for the week.

A federal judge on Thursday said BP must indemnify Transocean for some compensatory damage claims over the 2010 Gulf of Mexico oil spill.

Offshore driller Transocean said Thursday that Ricardo H. Rosa is stepping down as chief financial officer after just two years in the position and will retire from the company in April.

BP's $20 billion oil spill fund has halted payments to eligible victims until a U.S. federal court clarifies an order issued in December, according to a notice posted on the fund's website.

Oil major BP is seeking money from Halliburton, its contractor on the Deepwater Horizon oil platform, for the 2010 Gulf of Mexico oil spill, according to a court filing seen by CNBC.

Federal police in Brazil on Wednesday recommended the indictment of several Chevron and Transocean officials involved in an oil spill in early November for environmental crimes and withholding information in an investigation.

BP accused Halliburton of destroying evidence that the oilfield services company did inadequate cement work on the Gulf of Mexico oil well that blew out last year, and asked a federal judge to punish Halliburton.

Stocks came off their best levels but still logged a a gain in thin, choppy session Tuesday following reports that Italian Prime Minister Mario Monti will meet Italy's President to form the nation's next new government and after a handful of better-than-expected economic reports.