According to the official reports, President Barack Obama Friday warned BP against "nickel-and-diming" fishermen and small businesses hit by the Deepwater Horizon oil spill in the Gulf of Mexico.

Obama, in Louisiana for a third visit to the region since the April 20 explosion that killed 11 workers, sank an oil rig and touched off a massive oil spill in the gulf, said there were signs of progress in the effort to protect the gulf coastline from further damage and in BP's effort to contain the leak.

The president, however, said that he was concerned the British energy giant might not process claims quickly enough for people who are suffering economic losses due to the disaster.

He said, "My understanding is, is that BP has contracted for $50 million worth of TV advertising to manage their image during the course of this disaster. In addition, there are reports that BP will be paying $10.5 billion, that's billion with a B, in dividend payments this quarter.

He further said, "Now, I don't have a problem with BP fulfilling its legal obligations. But I want BP to be very clear, they've got moral and legal obligations here in the gulf for the damage that has been done. And what I don't want to hear is, when they're spending that kind of money on their shareholders and spending that kind of money on TV advertising, that they're nickel-and-diming fishermen or small businesses here in the gulf who are having a hard time."

According to Obama, the administration has assigned "federal folks to look over BP's shoulder" and to coordinate with state and local officials to ensure claims are processed "quickly, fairly, and that BP is not lawyering up, essentially, when it comes to these claims."

The containment project was going as planned, BP Chief Operations Officer Doug Suttles told CBS News.

He further said, "We do have the cap successfully in place."

Obama also told reporters on Friday, "We will know more over the next 24 to 48 hours. And it is way too early to be optimistic." (With Inputs from Agencies)