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

Andrew Goodwin: Five steps towards advice for everyone

Andrew Goodwin: Five steps towards advice for everyone

Long-term hopes for financial advice

Andrew Goodwin
clock 15 October 2026 • 5 min read
Wealth M&A deals triple in six years as PE buyers dominate market

Wealth M&A deals triple in six years as PE buyers dominate market

PE buyers account for nearly three-quarters of deals

Isabel Baxter
clock 14 October 2026 • 2 min read
Dyer Baade & Company's Daniel Baade: £500m-£2bn AUA firms key battleground in wealth M&A's next phase

Dyer Baade & Company's Daniel Baade: £500m-£2bn AUA firms key battleground in wealth M&A's next phase

Fewer but better buyers

Daniel Baade
clock 13 October 2026 • 3 min read