BP boss expected to quit over spill

The fate of embattled BP chief executive Tony Hayward could be known within 24 hours, with the oil group's board reportedly in negotiations over his exit package.

A meeting of the board of directors is scheduled for Monday, after which it has been speculated that an announcement will be made.

It comes as BP prepares to release interim results on Tuesday that will show just how badly the oil giant has been hit by the Gulf of Mexico disaster.

It has been reported that Mr Hayward is currently in talks over a compensation deal, with the outcome likely to be settled and made public by the end of Monday.

A spokesman for BP maintained that the chief executive continued to have the "full support of the board and senior management" and that the company would not comment on "speculation".

But it is now widely expected that Mr Hayward - the man who has soaked much of the criticism over the Deepwater Horizon oil spill - will step down in the coming days.