BP: we weren’t prepared

TONY Hayward, BP’s embattled chief executive, admitted yesterday that the oil giant could have been more prepared for a deepwater leak and that as a result his job could be on the line.

After two days of grilling from US Senate representatives, Hayward said that with hindsight, BP could have done more in the past to prevent the leak and that the industry would need to devote more resources and attention to subsea leak containment in future.

Hayward said that although currently his job is not be on the line, “that could change”.

This comes as costs to contain the leak of oil into the Gulf of Mexico have reached more than $450m (£306m).

Costs of plugging the leak, that is currently dumping 210,000 gallons of oil into the Gulf a day, have climbed by $100m since Monday.