AP:

LONDON — Former BP PLC chief Tony Hayward has acknowledged that the company was unprepared for the disastrous Gulf of Mexico oil spill and the media frenzy it spawned, and said the firm came close to financial disaster as its credit sources evaporated.
In an interview with the BBC to be broadcast Tuesday, Hayward said company’s contingency plans were inadequate and “we were making it up day to day.”
“What was going on was some extraordinary engineering,” he said in extracts released in advance by the BBC. “But when it was played out in the full glare of the media as it was, of course it looked like fumbling and incompetence.”
An April 20 explosion aboard a Gulf oil rig killed 11 workers and kicked off the worst oil spill in U.S. history.
Hayward said BP was “not prepared to deal with the intensity of the media scrutiny” it faced as millions of barrels of oil poured into the ocean and washed up on shore.

The rest here.