LORD Coe says that he has confidence in BP's sponsorship of the London 2012 Games.
The energy giant's shares and image have taken a pounding since the Deepwater Horizon oil rig exploded, spewing millions of gallons of oil into the Gulf of Mexico.
Lord Coe, chairman of the Games organisers, described BP as a "valued and trusted partner", which is raising 2 billion from the private sector to stage the event.
He said: "They clearly have a big issue to deal with and are dealing with it as a world class company. Ours is a very strong relationship and I am delighted they are with us."
BP became a top-tier sponsor of the 2012 Olympic Games in a glittering ceremony at the British Museum in July 2008.
Lord Coe said: "Our relationship with BP goes back beyond the bidding process. They have been very supportive during the bidding process.
"This is a world-class company that has come to the table to help us deliver an extraordinary Games.
"They are creative and smart."
BP is London 2012's official oil and gas partner and a sustainability partner alongside EDF Energy and BT.
It is responsible for providing fuelling facilities for the vehicles required to keep the Games moving.