Shares in BP Plc and Transocean shrugged off a scathing report from U.S. Presidential panel which blamed the United States' worst ever oil spill on risky decisions the companies made.

London-listed shares in BP traded up 1.3 percent at 506 pence at 0807 GMT (3:07 a.m. ET), while shares in Swiss based Transocean were up 2.3 percent. The STOXX Europe 600 Oil and Gas index traded up 0.9 percent, one higher oil prices.

(Reporting by Tom Bergin; Editing by Hans Peters)