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Insurance is expected to cover the costs of the incident that poured about 3,000 barrels of crude oil into the Pacific Ocean.
The fire started on a line transferring isobutylene, a flammable gas, before spreading to a warehouse containing dry chemicals.
Firefighters had to call on outside sources to augment their supply of the foam required to extinguish chemical blazes.
The lawsuit sought to hold five of the biggest oil companies financially responsible for contributing to climate change.
