Exxon Mobil Facing Potential Enforcement Actions From DOJ, EPA Over Refinery Fire

By Tomi KilgoreMarketsMarketWatch Pulse

Exxon Mobil Corp. disclosed Wednesday that the Department of Justice (DOJ) issued a notification concerning potential enforcement and possible settlement to its ExxonMobil Oil Corp. (EMOC) unit regarding potential violations of the Clear Air Act, and of the Environmental Protection Agency's (EPA) Chemical Accident Prevention provisions. The DOJ and EPA are seeking $100,000 in penalties and corrective actions. In a quarterly filing, Exxon said the DOJ and EPA contend that EMOC failed to identify hazards, failed to design a safe facility and failed to mitigate the consequences of a claimed accidental release related to a flash fire at the Beaumont, Texas refinery in April 2013. The stock, which rose 1.2% in afternoon trade amid a rise in oil prices, has lost 8% year to date, while the Dow Jones Industrial Average has gained 6.1%.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below