Tony Hayward, who is the departing boss, has been asked to give explanation regarding the Gulf of Mexico oil spill.

BP has blamed business partners that it is still doing business with, regarding the underwater explosions that took place in the Gulf of Mexico. The accusations have been made by BP on Halliburton and Transocean.

Tony Hayward, CEO, BP would be facing the MPs of the British Parliament regarding investigations into the BP oil spill at the Gulf of Mexico. The politicians would also question the Head of BP regarding risks involved with deep water drilling in the North Sea.

The oil giant BP has said there are so many companies to be blamed for the Gulf of Mexico oil spill as every company had their role to play over the spill.

The oil giant BP has decided to launch an investigation for the Gulf of Mexico oil spill which has been the largest environmental disaster in the history of US. It also caused a huge loss to the British oil giant making the largest loss for any British company ever.

The oil giant that has been pushed down because of the oil spill in the Gulf region, BP, is expected to come out with a report about the findings of an internal investigation that the company had.

According to the oil giant BP, the costs of the oil spill in the Gulf of Mexico have risen to 8 billion dollars and it rose more than 2 billion dollars in the last month alone.

The company has also said that it had paid around 399 million dollars as the compensation claims to the people and organizations affected by the huge oil spill.

On Friday, BP PLC divulged a number of lessons that it has learnt while it tried to trouble-shoot the oil spill catastrophe in the U. S. Gulf of Mexico and said that it would let the industry gather knowledge regarding coping up with any disaster of that sort in a better and faster way because of the experience that it has had.

Global oil major BP on Friday confirmed that the company's total expenditure related to the Mexican Gulf oil spill, which took place in April this year, has already reached $8 billion, nearly $2 billion more than initial estimate of $6 billion.

After handling severe criticism against his approach of handling the oil spill in the Gulf of Mexico, Tony Hayward is all set to step down as the CEO of BP in October. However, it has been learned from the sources that he is set to be nominated for a non-executive position on the board of the firm's Russian joint venture with TNK.