In case anyone else is confused by Ansel's crappy writing, Tesoro and Par Hawaii are paying a combined $425M as a settlement. The $10.4M figure is what Tesoro is paying solely in punitive damages. (The remainder consists of $12M for environmental projects, and a whopping $403M for new equipment to bring the refineries into compliance.)

"revenues of $28 billion, according to Forbes. All the fines listed in this article add up to about five percent of its revenue."

Five percent is $1.4 billion. What adds up to that? The biggest number in the article is $425 million, which is three times smaller (and isn't all Tesoro).

Also taking a percentage versus single year revenue is misleading. They committed the illegal acts and reaped the illegal profits for multiple years, so they look at this as an offset to multiple years of revenue. Mission accomplished from their shareholders' point of view.

@1 with one addition: most of the equipment is already installed. $75 million is future investment.