UPDATE 1-BP CEO says to decide on "top kill" Wednesday

(Adds details)

WASHINGTON, May 26 (BestGrowthStock) – The chief executive of
British energy giant BP Plc (BP.L: ) said he expects to decide
later on Wednesday whether to proceed with a “top kill”
procedure to try to contain leaking oil in the Gulf of Mexico.

“Later this morning I will review that with the team, and I
will take a final decision as to whether or not we should
proceed,” BP CEO Tony Hayward told the NBC “Today” show.

If he determines it is safe to proceed, the procedure is
expected to happen on Wednesday, he said. He added it will take
a day or two to determine whether the procedure worked.

In its attempt to plug the leak, BP plans to use undersea
robots to try to inject heavy fluids and then cement into the
seabed well to block oil flow in the “top kill” operation.

If it fails, Hayward said the next step would be to use a
containment device that would be sealed on top and would be
deployed in three or four days after the “top kill” attempt.

So far, the company’s attempts to plug the massive leak
have been dogged by delays and failures, and government and
public frustration with the company has risen. Residents of the
U.S. Gulf coast region are particularly concerned about the
impact of spreading oil on wildlife and area shorelines.

Hayward has been criticized for his earlier comments that
the environmental impact of the spill would be modest.

“We have let people down in our defense of the shore, and
we are going to redouble our efforts,” he told NBC, saying a
visit to a nearby beach on Tuesday left him “devastated.”

Stock Market Research

(Reporting by Susan Heavey; Editing by Will Dunham)

UPDATE 1-BP CEO says to decide on “top kill” Wednesday