According to the reports, BP President and Chief Executive Officer Tony Hayward apologized Thursday for the gulf oil spill but denied "stonewalling" in testimony to a U. S. House panel.

Hayward said in prepared remarks before the House Committee on Energy and Commerce's Subcommittee on Oversight and Investigation, "The explosion and fire aboard the Deepwater Horizon and the resulting oil spill in the Gulf of Mexico never should have happened, and I am deeply sorry that they did."

Hayward, who drew ire for his "I want my life back" comment earlier, said he understands how serious the situation is in along the U. S. Gulf Coast, where oil has been fouling water, marshes, beaches and wildlife since April 20, when the Transocean Deepwater Horizon rig leased by BP exploded, killing 11 workers. The rig sank two days later, creating the worst oil spill in U. S. history.

Hayward said, "This is unacceptable, I understand that, and let me be very clear: I fully grasp the terrible reality of the situation."

The New York Times has reported that however, as he took questions from members of Congress, Hayward repeatedly denied knowledge of whether the company took unnecessary risks to save time and money on the drilling project.

He further said, "I had no prior knowledge of the drilling of this well, none whatsoever."

He declined to speculate on the cause of the explosion or who was responsible.

At one point, Rep. Henry Waxman, D-Calif, chairman of the House Energy and Commerce Committee, accused Hayward of "stonewalling."

Hayward further added, "I'm not stonewalling. I simply wasn't involved in the decision-making." (With Inputs from Agencies)