BP chief Hayward "sorry" after six-hour Congress savaging

Scott Sinclair
clock

Besieged BP chief Tony Hayward yesterday declared his "deep sorrow" over the Gulf of Mexico oil spill after US Congressman accused his company of "astonishing complacency" and of having a "cavalier attitude to risk".

Speaking before the House energy and commerce sub-committee, a jaded-looking Hayward apologised for the accident and said he was "personally devastated" by the loss of life on the Deepwater Horizon rig on 20 April. "I am absolutely devastated by the incident and I feel great sorrow," he said, a day after pledging £13.5bn to a compensation fund to make amends for the Gulf of Mexico spill. "This tragedy should never have happened and I am deeply sorry that it did." Britain's largest firm was condemned by Senators for increasing the risk of a "catastrophic blowout" by cutting "corner ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Directly authorised numbers fall as networks continue to attract advisers

Directly authorised numbers fall as networks continue to attract advisers

‘The DA market is shrinking’

Isabel Baxter
clock 12 March 2026 • 3 min read
Almost half of clients report increase in advice fees

Almost half of clients report increase in advice fees

One of five advisers plan to increase initial fees in next 12 months

Isabel Baxter
clock 12 March 2026 • 2 min read
Treasury Committee launches inquiry into student loans

Treasury Committee launches inquiry into student loans

‘This inquiry is about fairness’

Isabel Baxter
clock 12 March 2026 • 2 min read