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BP chief likely to resign in wake of US oil spill

The chief executive of UK oil giant BP, Tony Hayward, was likely to resign within the next 24 hours in the aftermath of the catastrophic Gulf of Mexico oil spill.



London: The chief executive of British
oil giant BP, Tony Hayward, was likely to resign within the
next 24 hours in the aftermath of the catastrophic Gulf of
Mexico oil spill, the BBC reported.

Citing a senior BP source, the BBC said that an
announcement was due shortly on Hayward, whose future has been
in doubt for several weeks over his handling of the worst
environmental disaster in US history.

There is a "strong likelihood" that he would be
replaced by Bob Dudley, who took over management of BP`s
response to the spill from Hayward last month, the
public broadcaster added.

Earlier, the Sunday Telegraph newspaper reported that
Hayward was poised to resign before London-based BP announces
its half-year results on Tuesday. The BP board is expected to
meet on Monday ahead of the announcement.

Last Monday BP put the cost of its response to the
Gulf of Mexico oil spill at USD 3.95 billion.

Reports have suggested for days that Hayward would
resign at some point in the coming weeks as BP battles to
recover its reputation.

The Sunday Telegraph said that there could be
wrangling over Hayward`s severance package, under which he is
likely to be paid a minimum figure of just over one million
pounds (1.5 million dollars, 1.2 million euros).

Asked about the BBC report, a BP spokesman told AFP
he would not comment on speculation. He added: "Tony Hayward
is our chief executive. He has the full support of the board
and management."

In the Gulf itself, engineers moved ahead Sunday
with preparations for a well "kill" operation that officials
hope will permanently plug the oil leak that erupted April 20
when an offshore oil rig exploded, killing 11 workers.

A drill rig vessel charged with sinking a relief
well that should finally stop the deep-sea oil leak arrived
back at the site of the spill on Saturday after briefly moving
away due to a tropical storm.

PTI

From Zee News

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