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The safety procedures at the US refineries of London-based oil giant BP have today been heavily criticised by an independent report.

Led by former US secretary of state James Baker, the panel accuses BP's process safety management of being wracked with "material deficiencies".

The 374-page report was commissioned by BP seven months after the explosion at its Texas City refinery that killed 15 people are injured up to 180 workers on March 23rd 2005.

"Based on its review, the panel believes that BP has not provided effective process safety leadership and has not adequately established process safety as a core value across all its five US refineries," it said.

"The panel found that neither BP's executive management not its refining line management had ensured the implementation of an integrated, comprehensive and effective process safety management system."

But the panel, which did not investigate the circumstances surrounding the Texas City incident, adds that its recommendations are relevant to a "broader audience", and not exclusively BP.

"We are under no illusion that deficiencies in process safety culture, management, or corporate oversight are limited to BP," the panel continued.

"Other companies and their stakeholders can benefit from our work. We urge these companies to regularly and thoroughly evaluate their safety culture, the performance of their process safety management systems, and their corporate safety oversight for possible improvements."

Responding to the panel's findings, BP chairman John Browne, who recently announced his retirement, pledged that all of the report's recommendations would be implemented, as well as standardising BP's safety management schemes in the US.

"I want to thank Secretary Baker and the other panel members for their effort, their insights and their recommendations," said Mr Browne.

"We asked for a candid assessment from this diverse group of experts and they delivered one. We will use this report to enhance and continue the substantial effort already underway to improve safety culture and process safety management at our facilities."

Insisting that it is difficult to make dramatic changes in large companies, the BP chairman admits that there is "much more to do".

He explained: "As I told the panel, I intend to ensure BP becomes an industry leader in process safety management and performance. We will want to do everything possible to prevent another tragedy like the one that occurred at Texas City."

BP says it plans to spend $1.7 billion (£867 million) annually until the end of the decade to improve the integrity and reliability of its mining assets, as well as setting aside $200 million (£102 million) to pay for external audits from industry experts.