BP Plc. has achieved an "important milestone" on shearing a pipe from a blown-out Gulf of Mexico well, Chief Executive Tony Hayward said on Thursday.

"We have cleared the riser from the top of the wellhead and the team is working to complete the cleanup operation before we put the cap on top of the well," Hayward said, speaking to reporters at BP'S U.S. headquarters in Houston.

Hayward said BP is committed to cleaning up the spill, the largest in U.S. history. "We will meet our obligations to all stakeholders," he said.

Reuters