Reports have emerged that the departure of Tony Hayward, BP chief executive, will be announced on Tuesday at the same time as the company’s half-year financial results.
It is thought that he will be replaced by Bob Dudley, a US citizen, who is overseeing the oil spill clean-up operation in the Gulf of Mexico.
Hayward has been widely criticised by US politicians and the media for his handling of the crisis. He is now apparently negotiating his leaving package, which is expected to involve a £1m pay-off and a £10m pension pot.