The head of BP claims the compensation process for victims of the Gulf of Mexico oil spill has been ‘hijacked’ by administrators.
Speaking ahead of a judge’s ruling on a bid to freeze the process while investigations are carried out into the process, the company’s chief executive Bob Dudley said the process needed to be halted.
“We made an agreement that I believe has been hijacked and it is paying out absurd results – absurd payments by people not affected by this and, in so many cases, far away from the Gulf,” he told CNBC’s Jim Cramer.
“It’s just not right.”
US District Judge Carl Barbier is expected to rule later today on whether compensation payments over the 2010 Deepwater Horizon disaster should be frozen, while former FBI director Louis Freeh investigates claims of misconduct by administrator Patrick Juneau.
Freeh was appointed by Judge Barbier to condict an independent inquiry into allegations of impropriety within the court supervised settlement programme.
Watch the interview with Bob Dudley on our video player below.