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BP 'to fund $20bn spill payouts'

BP is to place $20bn in an independent fund to pay out compensation to victims of the Gulf oil spill, US media report.

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Obama previews oil spill address in Florida visit

The president says he'll discuss how BP must pay claims "fairly and quickly" to compensate oil spill victims. He also says he'll name separate commanders for Florida, Alabama and Louisiana to speed response to states' residents.

President Obama previewed part of his Oval Office address in an appearance here Tuesday morning, saying he will talk about the need for BP to pay out claims "quickly and fairly'' to compensate victims of the worst environmental disaster in U.S.

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