BP have denied reports the firm are planning to replace beleaguered chief executive Tony Hayward within weeks.
Reports suggest that the 54-year-old would stand down by September as BP's board looks towards rebuilding the oil giant's reputation, following the US oil spill.
But a spokesman said Mr Hayward had the full backing of the board as the company announced a £3.2 billion asset sale, to help fund compensation claims.
Mr Hayward has been roundly criticised for a series of PR gaffes and a failure to quickly stem the three-month leak in the Gulf of Mexico. He angered senators in the US at a congressional committee after refusing to accept the accident was solely BP's responsibility.
He also caused uproar after saying that he wanted his life back during a visit to Louisiana in May.
