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BP's image tainted after oil spill grilling

Reuters

BP boss Tony Hayward told US lawmakers on Thursday that it was "too early" to reach conclusions on the worst environmental disaster in US history. He claimed that he was not involved in any decision-making in the 20 April oil rig blast that killed 11and sent millions of gallons of oil into the Gulf of Mexico.

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Chief executive Tony Hayward apologized to US lawmakers, pledging to set right the oil disaster.

Hayward, dubbed the "most hated man in America" appeared before an often irate group of lawmakers who grilled him in front of live television cameras.

A protester in blackface stormed into the proceedings at one point, shouting, "You need to be charged with a crime, Tony. You need to go to jail!"

Hayward said that BP is now siphoning off 20,000 barrels of oil per day with two ships on the disaster site.

US experts say that between 35,000 and 60,000 barrels of oil are flowing into the Gulf every day.

Meanwhile, the BP share price went up almost 10 per cent on Thursday, after analysts speculated over the future of the company.

Even Russian President Dmitry Medvedev expressed his concern in an interview with the Wall Street Journal.

"What I know is that BP will have to pay a lot of money this year," he said. "Whether the company can digest those expenditures, whether they will lead to the annihilation of the company of its breakup into pieces is a matter of expediency."

 

 

 

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