LONDON (AP) - BP's chief executive said the oil company wasn't completely prepared to deal with a disastrous oil leak in the Gulf of Mexico, a newspaper reported Thursday.
The Financial Times quoted Tony Hayward as saying it was "an entirely fair criticism" that the company wasn't fully ready.
"What is undoubtedly true is that we did not have the tools you would want in your tool kit," Hayward was quoted as saying.
However, Hayward said BP had been successful so far in keeping most of the oil away from the southeastern U.S. coast.
"Considering how big this has been, very little has got away from us," Hayward was quoted as saying.
Hayward said the April 20 explosion on an oil rig that caused the leak was a "one in a million chance," but that risk needed to be cut to one in a billion or even one in a trillion.
BP's latest attempted to stop the leak stalled Wednesday when a diamond-tipped saw became stuck while trying to cut the pipe.
The company plans another attempt with giant shears, but said that even if that works it will be less satisfactory than if the saw had completed a clean cut.