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The Associated Press May 15, 2010, 7:36AM ET

BP CEO hopes to stop Gulf oil leak in next week

BP's chief executive says he hopes the oil leak in the Gulf of Mexico can be stopped within a week, but the worst case scenario is "it's more than that, and it's impossible to say how much more than that."

In an interview with the BBC broadcast on Saturday, Tony Hayward said his company was doing its best to mitigate the damage in the area.

But Hayward said the leak likely won't stop deep water oil exploration "in the same way as Apollo 13 did not stop the space program, nor have serious airline accidents, from time to time, stopped people flying. But what we need to do is ensure that the lessons are learnt, such that we can prevent a recurrence of this sort of incident."

Hayward called the regulatory process in the U.S. "very rigorous."

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