Exxon Mobil Settles With U.S, to Spend $571M on Refineries

Exxon Mobil Corp. (XOM) will spend $571 million to install pollution-reduction equipment on seven U.S. refineries in a settlement with the U.S. government, the Justice Department said on Tuesday.

In the settlement, Exxon Mobil, the world's largest publicly traded oil company, will also pay a $8.7 million civil penalty and spend $9.7 million on community environmental projects, the Justice Department (search) said.

Exxon Mobil agreed to install equipment on refineries in five states to reduce harmful emissions of sulfur dioxide (search) and nitrogen oxides (search), which have been linked with acid rain, smog and respiratory ailments like asthma.

The refineries represent about 11 percent of U.S. refining capacity, the government said.

They include Exxon Mobil's giant refineries in Baytown, Texas, and in Baton Rouge, La. -- the nation's two biggest. Other refineries in Texas, Louisiana, Montana, California and Illinois are also affected.

Spokesmen for Exxon Mobil were not immediately available to comment.