The Role of the Oil Majors and Others as Oil Transporters *
This chapter focuses on the efforts of oil and tanker companies to provide compensation to those who have sustained pollution damage as a result of the escape or discharge of oil from tankers. It discusses various steps these companies have taken to prevent such damage from occurring. Tanker Owners’ Voluntary Agreement concerning Liability for Oil Pollution (TOVALOP) is an acronym for Tanker Owners’ Voluntary Agreement Concerning Liability for Oil Pollution. TOVALOP further provides that each tanker-owner party will compensate persons who take reasonable measures to remove the threat of pollution after an incident occurs. Contract Regarding an Interim Supplement to Tanker Liability for Oil Pollution required, as a condition of liability, that the cargo be owned by one of its oil company parties, and that the tanker from which the oil escaped be owned by a party to TOVALOP.