Sohio rejected a settlement of a pipeline suit.

Standard Oil of Ohio, owner of one-third of the trans-Alaska pipeline, said the U.S. Justice Department’s proposed $792-million refund to Alaska pipeline owners is too small. Under the proposed settlement of the 8-year-old suit, the eight companies that own the pipeline would cut transportation rates for 15 years and the government would drop claims for $5 billion in windfall profits taxes.