The investment is part of the settlement it reached with the US environment protection agency (EPA) and the US justice department to resolve alleged violations of air pollution limits at the said refineries.

The settlement will require emissions reduction of nitrogen oxides (NOx) by approximately 24t per annum, sulfur dioxide (SO2) by approximately 385t tons per annum, and particulate matter by approximately 59t per annum.

EPA’s assistant administrator at the office of enforcement and compliance assurance Cynthia Giles said that the settlement holds Sinclair accountable for exceeding the emissions limits agreed to in a previous settlement for Clean Air Act violations and ensures that the people of Wyoming have cleaner, healthier air.

"EPA is committed to ensuring that companies comply with environmental requirements that protect people’s health," added Giles.

The settlement reached stipulates a payment of approximately $3.84bn in fines and is subject to a 30-day public comment period and a final court approval.