BP will finally decide the fate of its chief executive, Tony Hayward. The board of the UK oil giant will vote on any potential changes to company leadership. The management of BP will meet on Monday evening.


In the aftermath of the massive oil spill in the Gulf of Mexico, the company's response to the disaster has been widely criticized. The reputation of BP has been further tarnished over Hayward's response to the crisis. He angered both lawmakers and Americans when he stated how he wanted to resolve the crisis quickly, "so that I can have my life back." Amidst reports of potential career moves for the CEO, there has been much speculation over Hayward's payout -upon his departure from BP. 


The most recent revelations that the gas and fire alarms on the Deepwater Horizon oil rig were disabled, only adds to further outrage over the biggest oil spill in the history of the US.

Over the weekend, the chief electrician of the oil rig said that the alarm systems had been disabled to prevent "false alarms" from going off in the middle of the night.

On April 20th, when the oil rig exploded, the alarm systems had been partially disabled. The security alarms had been shut off, and they needed be triggered manually to be effective. Not only were 11 rig workers killed in the explosion, the oil spill wreaked havoc on the environment. 


While the flow of oil has been stemmed with a containment cap, officials have said the only way to permanently seal off the oil is to drill a relief well. Weather forecasts for Tropical Storm Bonnie led to a temporary halt to drilling operations. Bonnie has been downgraded to a tropical depression, and drilling operations have resumed.



BP announces earnings for the second quarter on Tuesday, July 27th. The results will be closely watched, along with preliminary provisions for the cost of the massive spill.

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