International group starts process for $38M compensation for Tobago oil spill
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September 23, 2025
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Tobago Correspondent
The International Oil Pollution Compensation (IOPC) Fund has estimated the payout for the Gulfstream oil spill at £4.2 million, or $38 million (TT). The fund confirmed that compensation payments have begun, but the process is expected to continue until 2027.
A report published last week ahead of the IOPC’s November governing body meeting in London showed that while £10 million has been raised in a special Gulfstream Major Claims Fund, just over £1 million had been paid out as of June 30, 2025. The fund projects that an additional £21.5 million will be paid between July 2025 and March 2027.
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