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BP announces it will place $20bn in a fund to compensate victims of the oil spill and says it will not pay a shareholder dividend this year.
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BP confirms that chief executive Tony Hayward will leave his post by mutual agreement in October, but he is likely to retain a position in the company. BP plans to nominate him as a non-executive director of its Russian joint venture, TNK-BP.
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US scientists say the oil from the well has cleared from the sea surface faster than expected, 100 days after the disaster began.
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The US government says three-quarters of the oil spilled in the Gulf has been cleaned up or broken down by natural forces.
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A study published in a leading scientific journal confirms the presence of a toxic chemical residue one kilometre below the surface of the Gulf of Mexico, but says it amounts to just 0.1% of the total amount spilled.
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In its own internal report into the Gulf of Mexico oil spill - the first to be published since the disaster - BP spreads the blame for the 11 April explosion and resulting leak.
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In a 193-page report BP accepts responsibility in part for the disaster, but also blames other companies working on the well.
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BP pumps cement to seal the damaged well after it was intercepted by a relief well.
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The ruptured well is finally sealed and "effectively dead", says the top US federal official overseeing the disaster, Coast Guard Adm Thad Allen.
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