Lord Coe 'confident' of BP role in sponsoring London Olympics

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.