Deepwater Horizon Oil Spill Trust Deepwater Horizon Oil Spill Trust The "Deepwater Horizon" Oil Spill Trust is the $20 billion trust fund established by BP to settle claims arising from the "Deepwater Horizon" oil spill. The fund was established to be used for natural resource damages, state and local response costs and individual compensation. It was established as Gulf Coast Claims Facility (GCCF), announced on 16 June 2010 after meeting of BP executives with U.S. President Barack Obama. In June 2012, the settlement of claims through the GCCF was replaced by the court supervised settlement program. After the "Deepwater Horizon" oil spill started, BP promised
Guimaras oil spill Guimaras oil spill The Guimaras oil spill occurred in the Panay Gulf on August 11, 2006 when the oil tanker M/T "Solar 1" sank off the coast of Guimaras and Negros islands in the Philippines, causing what is considered as the worst oil spill in the country. The oil tanker M/T "Solar 1", carrying more than two million liters of bunker fuel, sank during a violent storm approximately off the southern coast of Guimaras at around midnight on August 11, 2006, causing some of oil to pour into the gulf, that traveled up through the Guimaras Strait and Iloilo Strait.