Hess Corporation, together with its subsidiaries, engages in the exploration, development, production, purchase, transportation, and sale of crude oil and natural gas worldwide.
It operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R).
The E&P segment explores for, develops, produces, purchases, transports, and sells crude oil and natural gas.
Its exploration and production activities take place principally in Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Russia, Thailand, the United Kingdom, and the United States.
The M&R segment manufactures, purchases, transports, trades, and markets refined petroleum products, natural gas, and electricity.
It owns 50% of a refinery joint venture in the United States Virgin Islands, and another refining facility, terminals, and retail gasoline stations on the East Coast of the United States.
The company markets refined petroleum products on the East Coast of the United States to the motoring public, wholesale distributors, industrial and commercial users, other petroleum companies, governmental agencies, and public utilities.
It also markets natural gas and electricity to utilities and other industrial and commercial customers.
As of December 31, 2007, the company operated 1,371 HESS gasoline stations, including stations owned by the WilcoHess joint venture.
In addition, Hess Corporation also has a 92.5% interest in Hess LNG, which is pursuing investments in liquefied natural gas terminals and related supply, trading, and marketing opportunities; and has a 50% voting interest in a consolidated partnership that trades energy commodities and derivatives.
The company was founded in 1920 and is based in New York, New York.
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