- Tesoro (TSO +1.8%) says it has reached a $400M-plus settlement with the U.S. Department of Justice and EPA for air quality violations at refineries in six western states.
- Under the settlement, TSO pledges to invest $400M in technology to better control air emissions at operations in Alaska, northern California, North Dakota, Utah, Hawaii and Washington, as well as pay a $10.4M civil penalty.
- The U.S. attorney general, EPA administrator, attorneys general for Alaska and Hawaii, and the Northwest Clean Air Agency had filed a complaint against TSO for Clean Air Act violations.