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Oil spill sends BP £11bn into the red as former boss is exiled to Russia's wasteland (with £600,000 a year pension) By Becky Barrow Last updated at 8:52 AM on 27th July 2010 * Gulf of Mexico Oil spill to cost BP a total of £20bn * Tony Hayward: I feel 'deep responsibility' for blast * American Bob Dudley to replace Hayward as boss * BP shares open almost 1% higher this morning Oil giant BP plunged into the red for the first time in 18 years today as it racked up a massive $32.2billion (£20.8billion) bill for the fatal...

BP chief executive Tony Hayward will get an immediate annual pension worth about £600,000 ($930,000) when he leaves in October, the BBC has learned. Mr Hayward is to stand down after sustained criticism of his handling of the Gulf of Mexico oil leak. However, a BP source said he would be nominated for a non-executive position at the firm's Russian joint venture. BBC business editor Robert Peston said that the pension entitlement was "bound to be hugely controversial. 'Honour contract' BP pension scheme rules say that those who joined before April 2006 can take the pension at any point from...

Embattled BP CEO Tony Hayward canceled his appearance at a meeting of international oil tycoons Tuesday and his firm wouldn't say where he was. The title of the speech Hayward was supposed to have given at the World National Oil Companies Congress in London: "Key roles and responsibilities of international oil companies in an age of uncertainty." BP spokesman Jon Pack said Hayward was too busy with his "very heavy schedule of commitments" to the slick-hit Gulf coast.....

The embattled BP exec was pelted by so many inane questions from the mediocrities in Congress they almost turned the oil spill villain into a sympathetic figure. In days of yore, when boys at British boarding schools were summoned to the headmaster’s study for six of the best, they took care to put on three extra pairs of underpants to absorb the sting of the cane. Judging by Tony Hayward’s expression this morning—that of a cur whipped to within an inch of its life—the CEO of BP made the cardinal error of going into the first part of his hearing...

In a display that was indicative of political opportunism at best and hypocrisy at worst, members of the House committee on energy ripped into BP as if Congress is the shining example of honesty and integrity. Time for a serious fact-check. Congress has no moral authority to rip BP if they do not include themselves in the blame-game. (AP Photo/Alex Brandon). BP CEO Tony Hayward with Rep. Henry Waxman, D-California, one of the worst of the extremist environmentalists in Congress. Some of the very ones on the committee who did the most moralistic sermonizing to BP CEO Tony Hayward are...

Here is video from yesterday of Mediaite’s Tommy Christopher following BP CEO Tony Hayward and asking him if he knows what “the Government can do to you” if they do not comply with requirements being imposed on them. Hayward just ignored him and other reporters’ questions as he walked away from the White House. It is interesting to note that at the end of the video, you can see ABC News’ White House Correspondent Jake Tapper hollering after Hayward, “How’s that relative trickle going?”

Q: President Obama finally meets this week with BP chief Tony Hayward on the Gulf oil spill. From a leadership perspective, which man has been the less effective in his handling of the crisis? What should he have done differently? Tony Hayward has done a terrible job for BP's shareholders and employees even as he has seemingly followed the conventional wisdom about dealing with disasters. That wisdom is: admit responsibility, apologize, promise to rectify any damages, and act with contrition. BP has done all that, even as its stock has lost about 40 percent of its value, its public approval...

Here I am, spewing on Day 54 like a volcano and no one is in charge, no one is doing anything for the out-of-work fishing industry, no one is helping Louisiana and Mississippi and Alabama and, now, Florida, keep me from staining their beaches and ruining their tourism incomes, like I'm staining and ruining BO's presidency. The talk goes on and on and on, just like me, but nothing gets done. Another month of this, and BO's approval rating will be Less than Zero, and my employer will be living out of a garbage can.

BP CEO Tony Hayward and President Obama don’t talk to each other which is strange on many levels. However it looks like their speech writers collaborate because both leaders in the Gulf spill disaster sound like they spend hours together making their story straight. Let’s compare the messages coming from BP and the White house: We’ve helped organize the largest environmental response in this country’s history. More than 2 million feet of boom, 30 planes, and over 1,300 boats are working to protect the shoreline. Where oil reaches the shore, thousands of people are ready to clean it up. -...

The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse. BP chief executive Tony Hayward has been under intense pressure since the oil well erupted on April 20Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster. Mr Hayward, whose pay package is £4 million a year, then paid off the mortgage on his family’s mansion in Kent, which is estimated to be valued at...