BP chief defends oil spill response

BP chief executive Tony Hayward has insisted the company is winning the race to contain the Gulf Coast oil spill and rejected accusations it had reacted too slowly to the disaster.

Mr Hayward said the oil giant had "over-responded" since the BP-operated Deepwater Horizon rig exploded and sank on April 20, killing 11 workers. He said there will be a giant steel dome in place over the worst leak by Thursday which will channel the oil to a specialist ship over the weekend.

BP has also begun work on a relief well to intercept the leaking one and permanently seal it but this could take up to three months. It is also attempting to deal with the leak by injecting dispersal agents into the oil flow at the seabed.

Mr Hayward has reiterated his promise that the company "will honour all legitimate claims for business interruption".

BP estimated that the leaking well could spill up to 2.5 million gallons of oil a day in a worst-case scenario, though it was more likely to be around 1.7 million gallons. The cost of the efforts to contain and secure the well are estimated at six million US dollars and rising.

Meanwhile favourable weather conditions will allow for a controlled burn of the oil slick in the Gulf of Mexico for the first time since last month. Controlled burns remove oil from the open water in an effort to protect shoreline and wildlife.