$23 million pay off for BP chief executive Tony Hayward

He will carry the can for the devastating oil spill in the Gulf of Mexico which has badly damaged BP's reputation in the US.

The cost of the disaster means the firm is expected tomorrow to reveal the biggest ever quarterly loss - almost £9BILLION - in UK corporate history. BP is to pay the US £13billion in compensation after four million barrels of oil spewed into the Gulf after a rig explosion in April.

Mr Hayward - slammed for his handling of the crisis - would be due a £1million salary pay-off, share options worth £2.7million and a £10.8million pension pot.

He is set to be replaced by US managing director Bob Dudley in the first step to a "Future BP".