Online Training for Indian Oil Corporation

On 13 March 2024, the IOPC Funds had the pleasure of delivering an online presentation for over 30 staff members of the Indian Oil Corporation Ltd., one of the largest oil companies in India and a significant contributor to the 1992 Fund.

Claims Manager, Mark Homan, provided an insight into the existing international liability and compensation regime for ship-source oil pollution, based on the 1992 Civil Liability and the 1992 Fund Conventions. He also explained the admissibility of claims and the procedure for the submission of claims for compensation. Additionally, Chief of Finance, Claire Montgomery, explained the financing mechanism of the IOPC Funds, detailing how contributions are levied based on the amount of oil received by any entity importing oil in Member States.  She highlighted the crucial role of these contributions in supporting the Secretariat’s operations and ensuring adequate funds for compensating those who have incurred losses or damages in a State Party to the 1992 Fund Convention.

The IOPC Funds are committed to promoting understanding of the international regime and to enhancing cooperation with oil receivers operating within Member States. The Secretariat remains available to offer guidance and support to those seeking clarity and to facilitate a deeper comprehension of the oil reporting and contribution processes. To request further information, please contact info@iopcfunds.org.