BP (BP) Management At Fault Says Exxon's (XOM) Tillerson

At a company analyst meeting in New York, Exxon Mobil (NYSE:XOM) CEO Rex Tillerson blamed the BP (BP) oil spill disaster on the management of the company, saying it was primarily their fault.

Tillerson said, "It was a breakdown of management oversight. When you do things the proper way these kind of things do not happen."

This was after BP Chief Executive Officer Robert Dudley said at a recent energy conference that the Gulf oil spill wasn't a "one-in-a-million occurrence" and industry-wide changes were needed.

Tillerson blasted those comments, saying Dudley did the industry "a great disservice" in making those assertions.

Dudley continues to say BP didn't act in a negligent manner, even as criminal and civil investigations are being opened.

BP closed Wednesday at $47.41, down $0.40, or 0.84 percent. Exxon closed at $84.38, down $0.22, or 0.26 percent.