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
Mega Borg Oil Spill Mega Borg Oil Spill The "Mega Borg" Oil Spill occurred in the Gulf of Mexico on June 8, 1990, roughly 50 miles off the coast of Texas, when the oil tanker "Mega Borg" caught on fire and exploded. The cleanup was one of the first practical uses of bioremediation. At 11:30 PM on the evening of Saturday June 8, 1990, an explosion in the cargo room of the Norwegian oil tanker the "Mega Borg" “ruptured the bulkhead between the pump room and the engine room”, causing the ship to catch fire and begin to leak oil. The 853-foot-long, 15-year-old vessel