BP says it is "absolutely responsible" for the oil spilling from a blown-out well in the Gulf of Mexico and is vowing to pay "all necessary and appropriate" costs to clean it up.
"It wasn’t our accident, but we are absolutely responsible for the oil, for cleaning it up, and that’s what we intend to do," BP CEO Tony Hayward said Monday morning.
The Deepwater Horizon drill rig belonged to Transocean Ltd., he said, referring to the world’s largest offshore drilling contractor.
"It was their rig and their equipment that failed, run by their people and their processes, but our responsibility is the oil and the responsibility is ours to clean it up. And that’s what we’re doing."