The BBC's Iain Mackenzie said the report is "incredibly critical" of all of the companies involved.
Mark Mardell, BBC North America editor:
In a 48-page report, the presidential commission wrote that the failures were "systemic" and likely to recur without industry and government reform.
But it said BP did not have adequate controls in place to ensure safety.
The April blast aboard the Deepwater Horizon rig killed 11 people and caused one of the worst oil spills in history. Read more>>