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Hess Reports Estimated Results for the Fourth Quarter of 2012

  Hess Reports Estimated Results for the Fourth Quarter of 2012

Fourth Quarter Highlights:

  *Net income was $566 million, compared with a net loss of $131 million in
    the fourth quarter of 2011
  *Net income excluding items affecting comparability between periods was
    $409 million compared with $394 million in the fourth quarter of 2011
  *Oil and gas production increased to 396,000 barrels of oil equivalent per
    day, up from 367,000 in the fourth quarter of 2011
  *Net cash provided by operating activities was $1,570 million, compared
    with $1,138 million in the fourth quarter of 2011
  *Year-end total proved reserves were 1,553 million barrels of oil
    equivalent; reserve replacement for 2012 was 141 percent

Business Wire

NEW YORK -- January 30, 2013

Hess Corporation (NYSE: HES) reported net income of $566million for the
fourth quarter of 2012, compared with a net loss of $131 million for the
fourth quarter of 2011.

The after-tax income (loss) by major operating activity was as follows:

                                                   
                           Three Months Ended         Years Ended
                           December 31, (unaudited)   December 31, (unaudited)
                           2012          2011        2012          2011
                           (In millions, except per share amounts)
Exploration and            $    517       $  527      $   2,404      $  2,675
Production
Marketing and Refining          159          (561)        231           (584)
Corporate                       (43)         (40)         (158)         (154)
Interest expense               (67)        (57)        (260)        (234)
Net income (loss)
attributable to Hess       $    566       $  (131)    $   2,217      $  1,703
Corporation
                                                                        
Net income (loss) per      $    1.66      $  (.39)    $   6.52       $  5.01
share (diluted)
                                                                        
Weighted average number        340.5       337.5       340.3        339.9
of shares (diluted)

Note: See page 3 for a table of items affecting comparability of earnings
between periods.


Exploration and Production earnings were $517 million in the fourth quarter of
2012, compared with $527 million in the fourth quarter of 2011. Fourth quarter
oil and gas production was 396,000 barrels of oil equivalent per day, up from
367,000 barrels of oil equivalent per day in the fourth quarter a year ago,
primarily reflecting an increase in production from the Bakken oil shale play
and the resumption of operations in Libya, partly offset by the shut-in of the
Valhall Field in Norway for the quarter due to the redevelopment project. Net
production from the Bakken oil shale play averaged 64,000 barrels of oil
equivalent per day in the fourth quarter of 2012, an increase of 68% from
38,000 barrels of oil equivalent per day in the same period last year. The
Corporation’s average worldwide crude oil selling price, including the effect
of hedging, was $84.46 per barrel, down from $89.70 per barrel in the same
quarter a year ago. The average worldwide natural gas selling price was $6.60
per mcf in the fourth quarter of 2012, up from $6.32 per mcf in the fourth
quarter of 2011. Fourth quarter 2012 exploration expenses included total dry
hole expenses of $167 million ($102 million after-tax), primarily associated
with two exploration wells, Ness Deep in the Gulf of Mexico and Ajek-1
offshore, Indonesia.

In 2012, the Corporation announced divestitures totaling $2.4 billion as part
of the strategic reshaping of its Exploration and Production asset portfolio.
The sale of the Corporation's interest in the Bittern Field in the United
Kingdom North Sea was completed in the fourth quarter of 2012 and follows the
completion of the sales of the Schiehallion Field, offshore United Kingdom,
and the Snohvit Field, offshore Norway, earlier in the year. The sale of the
Corporation's interest in the Beryl Field in the United Kingdom North Sea was
completed in January 2013 and the divestiture of our assets in Azerbaijan is
expected to be completed by the end of March 2013. In addition, as previously
announced, the Corporation has commenced a sales process for its Russian
subsidiary, Samara-Nafta, and its Eagle Ford assets in Texas.

Oil and gas proved reserves were 1,553 million barrels of oil equivalent at
the end of 2012, compared with 1,573 million barrels at the end of 2011.
During 2012, the Corporation added 214 million barrels of oil equivalent to
proved reserves and sold 83 million barrels of oil equivalent of proved
reserves through asset dispositions. The additions, which are subject to final
review, replaced approximately 141 percent of the Corporation’s 2012
production, resulting in a reserve life of 10.3 years.

Marketing and Refining generated income of $159 million in the fourth quarter
of 2012, compared with a loss of $561 million in the same period in 2011.
Marketing earnings were $152 million, up from $48 million in the same quarter
of 2011 primarily as a result of income from the partial liquidation of LIFO
inventories, and higher margins. Operations at our Port Reading refining
facility in New Jersey generated income of $8 million in the fourth quarter of
2012, compared with a loss of $6 million in the fourth quarter of 2011,
principally due to higher margins. Trading activities generated a loss of $1
million in the fourth quarter of 2012 and a loss of $11 million in the fourth
quarter of last year.

Earlier this week, the Corporation announced that the Port Reading refinery
will be closed in February. Upon closure of Port Reading, which follows the
shutdown of the HOVENSA L.L.C. refinery in St. Croix, U.S. Virgin Islands in
early 2012, the Corporation will have completely exited the refining business.
The Corporation also announced that it will commence a process to sell its
terminal network. Following these actions, over 90 percent of Hess’ capital
employed will be in its Exploration and Production business.

The following table reflects the total after-tax income (expense) of items
affecting comparability of earnings between periods:

                                              
                                     Three Months Ended     Years Ended
                                     December 31,           December 31,
                                     (unaudited)            (unaudited)
                                     2012      2011        2012      2011
                                     (In millions)
          Exploration
          and                        $  86      $  -        $  148     $ 244
          Production
          Marketing                    71        (525)      71       (525)
          and Refining
                                     $  157     $  (525)    $  219     $ (281)
                                                                         

Fourth quarter 2012 Exploration and Production results included an after-tax
gain of $172 million relating to the sale of the Corporation’s interest in the
Bittern Field in the United Kingdom North Sea. The results also included an
income tax charge of $86 million for a disputed application of an
international tax treaty. Fourth quarter 2012 Marketing and Refining results
included after-tax income of $104 million from the partial liquidation of LIFO
inventories and after-tax charges totaling $33 million for asset impairments
and other charges. Fourth quarter 2011 results included an after-tax charge of
$525 million related to the shutdown of the HOVENSA refinery.

Net cash provided by operating activities was $1,570 million in the fourth
quarter of 2012, compared with $1,138 million in the same quarter of 2011.
Capital and exploratory expenditures were $1,914 million, of which $1,887
million related to Exploration and Production operations. Capital and
exploratory expenditures for the fourth quarter of 2011 were $2,236 million,
of which $2,185 million related to Exploration and Production operations.

At December 31, 2012, cash and cash equivalents totaled $642 million, compared
with $351million at December 31, 2011. Total debt was $8,111 million at
December 31, 2012 and $6,057 million at December 31, 2011. The Corporation’s
debt to capitalization ratio at December 31, 2012 was 27.5 percent, compared
with 24.6 percent at the end of 2011.

Hess Corporation will review fourth quarter financial and operating results
and other matters on a webcast at 10 a.m. today. For details about the event,
refer to the Investor Relations section of our website at http://www.hess.com.

Hess Corporation is a leading global independent energy company primarily
engaged in the exploration and production of crude oil and natural gas, and
the marketing of refined petroleum products, natural gas and electricity. More
information on Hess Corporation is available at http://www.hess.com.


Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements"
within the meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended, and Section 27A of the United States Securities Act of
1933, as amended. Forward-looking statements are subject to known and unknown
risks and uncertainties and other factors which may cause actual results to
differ materially from those expressed or implied by such statements,
including, without limitation, uncertainties inherent in the measurement and
interpretation of geological, geophysical and other technical data.


                                                              
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)

(IN MILLIONS)
                                                                             
                                             Fourth      Fourth      Third
                                             Quarter     Quarter     Quarter
                                             2012        2011        2012
Income Statement
Revenues and Non-operating Income
Sales (excluding excise taxes) and           $ 9,511     $ 9,733     $ 9,194
other operating revenues
Income (loss) from equity investment           -           (940)       -
in HOVENSA L.L.C.
Gains on asset sales                           172         -           376
Other, net                                    15        31        49    
                                                                             
Total revenues and non-operating              9,698     8,824     9,619 
income
                                                                             
Costs and Expenses
Cost of products sold (excluding               6,250       6,712       6,019
items shown separately below)
Production expenses                            690         613         712
Marketing expenses                             282         273         259
Exploration expenses, including dry            362         426         259
holes and lease impairment
Other operating expenses                       43          44          41
General and administrative expenses            201         187         167
Interest expense                               106         93          104
Depreciation, depletion and                    751         674         748
amortization
Asset impairments                             16        -         208   
                                                                             
Total costs and expenses                      8,701     9,022     8,517 
                                                                             
Income (loss) before income taxes              997         (198)       1,102
Provision (benefit) for income taxes          429       (64)      510   
                                                                             
Net income (loss)                              568         (134)       592
Less: Net income (loss) attributable          2         (3)       35    
to noncontrolling interests
Net income (loss) attributable to            $ 566      $ (131)    $ 557   
Hess Corporation
                                                                             
Supplemental Income Statement
Information
Foreign currency gains (losses),             $ 7         $ (8)       $ 7
after-tax
Capitalized interest                           10          5           8
                                                                             
Cash Flow Information
Net cash provided by operating               $ 1,570     $ 1,138     $ 1,862
activities (a)
                                                                             
Capital and Exploratory Expenditures
Exploration and Production
United States                                $ 1,069     $ 1,372     $ 1,210
International                                 818       813       1,050 
                                                                             
Total Exploration and Production               1,887       2,185       2,260
                                                                             
Marketing, Refining and Corporate             27        51        27    
                                                                             
Total Capital and Exploratory                $ 1,914    $ 2,236    $ 2,287 
Expenditures
                                                                             
Exploration expenses charged to
income included above
United States                                $ 33        $ 51        $ 39
International                                 102       70        88    
                                                                             
                                             $ 135      $ 121      $ 127   
                                                                             

(a) Includes changes in working capital.

                                                 
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)

(IN MILLIONS)
                                                      
                                                      Years Ended December 31,
                                                      2012         2011
Income Statement
Revenues and Non-operating Income
Sales (excluding excise taxes) and other              $  37,691     $  38,466
operating revenues
Income (loss) from equity investment in                  -             (1,073)
HOVENSA L.L.C.
Gains on asset sales                                     584           446
Other, net                                              98           32
                                                                       
Total revenues and non-operating income                 38,373       37,871
                                                                       
Costs and Expenses
Cost of products sold (excluding items shown             24,917        26,774
separately below)
Production expenses                                      2,752         2,352
Marketing expenses                                       1,057         1,069
Exploration expenses, including dry holes and            1,070         1,195
lease impairment
Other operating expenses                                 166           171
General and administrative expenses                      707           702
Interest expense                                         419           383
Depreciation, depletion and amortization                 2,949         2,406
Asset impairments                                       283          358
                                                                       
Total costs and expenses                                34,320       35,410
                                                                       
Income (loss) before income taxes                        4,053         2,461
Provision (benefit) for income taxes                    1,798        785
                                                                       
Net income (loss)                                        2,255         1,676
Less: Net income (loss) attributable to                 38           (27)
noncontrolling interests
Net income (loss) attributable to Hess                $  2,217      $  1,703
Corporation
                                                                       
Supplemental Income Statement Information
Foreign currency gains (losses), after-tax            $  18         $  (15)
Capitalized interest                                     28            13
                                                                       
Cash Flow Information
Net cash provided by operating activities (a)         $  5,660      $  4,984
                                                                       
Capital and Exploratory Expenditures
Exploration and Production
United States                                         $  4,763      $  4,305
International                                           3,383        3,039
                                                                       
Total Exploration and Production                         8,146         7,344
                                                                       
Marketing, Refining and Corporate                       119          118
                                                                       
Total Capital and Exploratory Expenditures            $  8,265      $  7,462
                                                                       
Exploration expenses charged to income
included above
United States                                         $  142        $  197
International                                           328          259
                                                                       
                                                      $  470        $  456
                                                                       

(a) Includes changes in working capital.

                                                     
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)

(IN MILLIONS)
                                                          
                                                          December 31,
                                                          2012      2011
Balance Sheet Information
                                                                       
Cash and cash equivalents                                 $ 642      $ 351
Other current assets                                        7,667      7,988
Investments                                                 443        384
Property, plant and equipment – net                         29,122     24,712
Other long-term assets                                     5,720     5,701
Total assets                                              $ 43,594   $ 39,136
                                                                       
Short-term debt and current maturities of                 $ 787      $ 52
long-term debt
Other current liabilities                                   7,556      8,048
Long-term debt                                              7,324      6,005
Other long-term liabilities                                 6,532      6,439
Total equity excluding other comprehensive income           21,888     19,659
(loss)
Accumulated other comprehensive income (loss)              (493)     (1,067)
Total liabilities and equity                              $ 43,594   $ 39,136
                                                                       

                          
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)

(IN MILLIONS)
                               
                               Fourth Quarter 2012
                               United        International     Total
                               States
Sales and other                $  1,116      $    1,461        $     2,577
operating revenues
Gains on asset sales              -               172                    172
Other, net                       (1)            28                27
                                                                         
Total revenues and               1,115          1,661             2,776
non-operating income
                                                                         
Costs and expenses
Production expenses,
including related                 232             458                    690
taxes
Exploration expenses,
including dry holes               205             157                    362
and lease impairment
General,
administrative and                59              32                     91
other expenses
Depreciation,
depletion and                     399             327                    726
amortization
Asset impairments                -              -                 -
                                                                         
Total costs and                  895            974               1,869
expenses
                                                                         
Results of operations             220             687                    907
before income taxes
Provision (benefit)              77             313               390
for income taxes
                                                                         
Results of operations
attributable to Hess           $  143    (a) $    374      (b) $     517
Corporation
                                                                         
                               Fourth Quarter 2011
                               United        International     Total
                               States
Sales and other                $  937        $    1,662        $         2,599
operating revenues
Gains on asset sales              -               -                      -
Other, net                       3              25                28
                                                                         
Total revenues and               940            1,687             2,627
non-operating income
                                                                         
Costs and expenses
Production expenses,
including related                 170             443                    613
taxes
Exploration expenses,
including dry holes               118             308                    426
and lease impairment
General,
administrative and                49              33                     82
other expenses
Depreciation,
depletion and                     273             378                    651
amortization
Asset impairments                -              -                 -
Total costs and                  610            1,162             1,772
expenses
Results of operations             330             525                    855
before income taxes
Provision (benefit)              130            198               328
for income taxes
Results of operations
attributable to Hess           $  200        $    327      (b) $     527
Corporation
                                                                         
                               Third Quarter 2012
                               United        International     Total
                               States
Sales and other                $  1,022      $    1,685        $         2,707
operating revenues
Gains on asset sales              -               376                    376
Other, net                       18             26                44
                                                                         
Total revenues and               1,040          2,087             3,127
non-operating income
                                                                         
Costs and expenses
Production expenses,
including related                 241             471                    712
taxes
Exploration expenses,
including dry holes               68              191                    259
and lease impairment
General,
administrative and                49              30                     79
other expenses
Depreciation,
depletion and                     393             332                    725
amortization
Asset impairments                58             150               208
                                                                         
Total costs and                  809            1,174             1,983
expenses
                                                                         
Results of operations             231             913                    1,144
before income taxes
Provision (benefit)              91             445               536
for income taxes
                                                                         
Results of operations
attributable to Hess           $  140    (a) $    468      (b) $     608
Corporation
                                                                         

(a) The after-tax losses from crude oil hedging activities were $5 million in
both the third and fourth quarter of 2012.

(b) The after-tax losses from crude oil hedging activities were $92 million in
the fourth quarter of 2012, $83 million in the fourth quarter of 2011 and $89
million in the third quarter of 2012.

                          
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

EXPLORATION AND PRODUCTION EARNINGS (UNAUDITED)

(IN MILLIONS)
                            
                            Year Ended December 31, 2012
                            United States     International     Total
Sales and other operating   $    4,104        $    6,789        $    10,893
revenues
Gains on asset sales             -                 584                  584
Other, net                      18               81               99
                                                                        
Total revenues and              4,122            7,454            11,576
non-operating income
                                                                        
Costs and expenses
Production expenses,             957               1,795                2,752
including related taxes
Exploration expenses,
including dry holes and          426               644                  1,070
lease impairment
General, administrative          196               118                  314
and other expenses
Depreciation, depletion          1,406             1,447                2,853
and amortization
Asset impairments               117              150              267
                                                                        
Total costs and expenses        3,102            4,154            7,256
                                                                        
Results of operations            1,020             3,300                4,320
before income taxes
Provision (benefit) for         390              1,526            1,916
income taxes
                                                                        
Results of operations
attributable to Hess        $    630      (a) $    1,774    (b) $    2,404
Corporation
                                                                        
                            Year Ended December 31, 2011
                            United States     International     Total
Sales and other operating   $    3,371        $    6,676        $       10,047
revenues
Gains on asset sales             -                 446                  446
Other, net                      (7)              25               18
                                                                        
Total revenues and              3,364            7,147            10,511
non-operating income
                                                                        
Costs and expenses
Production expenses,             660               1,692                2,352
including related taxes
Exploration expenses,
including dry holes and          475               720                  1,195
lease impairment
General, administrative          190               123                  313
and other expenses
Depreciation, depletion          800               1,505                2,305
and amortization
Asset impairments               16               342              358
                                                                        
Total costs and expenses        2,141            4,382            6,523
                                                                        
Results of operations            1,223             2,765                3,988
before income taxes
Provision (benefit) for         470              843              1,313
income taxes
                                                                        
Results of operations
attributable to Hess        $    753          $    1,922    (b) $    2,675
Corporation
                                                                        

(a) The after-tax losses from crude oil hedging activities were $39 million
for the year ended December 31, 2012.

(b) The after-tax losses from crude oil hedging activities were $392 million
for the year ended December 31, 2012 and $327 million for the corresponding
period of 2011.

                                                               
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

EXPLORATION AND PRODUCTION SUPPLEMENTAL OPERATING DATA (UNAUDITED)
                                                                      
                                                Fourth     Fourth     Third
                                                Quarter    Quarter    Quarter
                                                2012       2011       2012
Operating Data
Net Production Per Day (in thousands)
Crude oil - barrels
United States                                     118        89         109
Europe                                            64         95         80
Africa                                            77         54         75
Asia                                             16        13        17
Total                                            275       251       281
                                                                        
Natural gas liquids - barrels
United States                                     18         13         16
Europe                                            2          4          2
Asia                                             1         1         1
Total                                            21        18        19
                                                                        
Natural gas - mcf
United States                                     138        90         116
Europe                                            22         92         36
Asia and other                                   441       408       462
Total                                            601       590       614
Barrels of oil equivalent                        396       367       402
                                                                        
Average Selling Price
Crude oil - per barrel (including
hedging)
United States                                   $ 91.74    $ 100.76   $ 90.17
Europe                                            61.01      77.18      75.08
Africa                                            87.27      85.49      90.78
Asia                                              106.28     111.08     102.85
Worldwide                                         84.46      89.70      86.69
                                                                        
Crude oil - per barrel (excluding
hedging)
United States                                   $ 92.63    $ 100.76   $ 90.87
Europe                                            61.29      77.18      75.36
Africa                                            109.76     109.28     110.33
Asia                                              107.86     111.08     103.20
Worldwide                                         90.86      95.16      92.35
                                                                        
Natural gas liquids - per barrel
United States                                   $ 36.21    $ 57.86    $ 38.35
Europe                                            85.62      66.47      56.82
Asia                                              85.24      66.18      64.67
Worldwide                                         44.66      59.81      41.71
                                                                        
Natural gas - per mcf
United States                                   $ 2.72     $ 2.50     $ 2.18
Europe                                            9.06       8.88       9.15
Asia and other                                    7.68       6.57       6.56
Worldwide                                         6.60       6.32       5.88
                                                                        

                                              
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

EXPLORATION AND PRODUCTION SUPPLEMENTAL OPERATING DATA (UNAUDITED)
                                                   
                                                   Years Ended December 31,
                                                   2012         2011
Operating Data
Net Production Per Day (in thousands)
Crude oil - barrels
United States                                         108           81
Europe                                                84            89
Africa                                                75            66
Asia                                                 17           13
Total                                                284          249
                                                                    
Natural gas liquids - barrels
United States                                         16            13
Europe                                                2             3
Asia                                                 1            1
Total                                                19           17
                                                                    
Natural gas - mcf
United States                                         119           100
Europe                                                43            81
Asia and other                                       454          442
Total                                                616          623
Barrels of oil equivalent                            406          370
                                                                    
Average Selling Price
Crude oil - per barrel (including hedging)
United States                                      $  92.32      $  98.56
Europe                                                74.14         80.18
Africa                                                89.02         88.46
Asia                                                  107.45        111.71
Worldwide                                             86.94         89.99
                                                                    
Crude oil - per barrel (excluding hedging)
United States                                      $  93.96      $  98.56
Europe                                                75.06         80.18
Africa                                                110.92        110.28
Asia                                                  109.35        111.71
Worldwide                                             93.70         95.60
                                                                    
Natural gas liquids - per barrel
United States                                      $  40.75      $  58.59
Europe                                                78.43         75.49
Asia                                                  77.92         72.29
Worldwide                                             47.81         62.72
                                                                    
Natural gas - per mcf
United States                                      $  2.09       $  3.39
Europe                                                9.50          8.79
Asia and other                                        6.90          6.02
Worldwide                                             6.16          5.96
                                                                    

                                                               
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA (UNAUDITED)
                                                                             
                                             Fourth      Fourth      Third
                                             Quarter     Quarter     Quarter
                                             2012        2011        2012
Financial Information (in millions)
                                                                             
Marketing and Refining Results
Income (loss) before income taxes            $ 265       $ (885)     $ 84
Provision (benefit) for income taxes          106       (324)     31    
Results of operations attributable to        $ 159      $ (561)    $ 53    
Hess Corporation
                                                                             
Summary of Marketing and Refining
Results
Marketing                                    $ 152       $ 48        $ 17
Refining                                       8           (598)       18
Trading                                       (1)       (11)      18    
Results of operations attributable to        $ 159      $ (561)    $ 53    
Hess Corporation
                                        
                                                                             
Operating Data
                                                                             
Sales Volumes
Refined petroleum products (thousands
of barrels per day)
Gasoline                                       201         214         214
Distillates                                    126         143         102
Residuals                                      49          65          48
Other                                         10        19        10    
Total                                         386       441       374   
                                                                             
Natural gas (thousands of mcf per day)        2,700     2,200     1,900 
                                                                             
Electricity (megawatts round the              4,400     4,100     4,800 
clock)
                                                                             
Retail Marketing
Number of retail stations (a)                  1,361       1,360       1,361
Convenience store revenue (in                $ 268       $ 290       $ 295
millions) (b)
Average gasoline volume per station            194         195         196
(thousands of gallons per month) (b)
                                                                             
Port Reading
Refinery throughput (thousands of              50          58          68
barrels per day)
Refinery utilization (capacity -               72.0%       82.9%       97.0%
70,000 barrels per day)
                                                                             

(a) Includes company operated, Wilco-Hess, dealer and branded retailer.
(b) Company operated only.

                                                              
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

MARKETING AND REFINING SUPPLEMENTAL FINANCIAL AND OPERATING DATA (UNAUDITED)
                                                                        
                                                      Years Ended December 31,
                                                      2012           2011
Financial Information (in millions)
                                                                        
Marketing and Refining Results
Income (loss) before income taxes                     $   376        $  (857)
Provision (benefit) for income taxes                     145          (273)
Results of operations attributable to Hess            $   231        $  (584)
Corporation
                                                                        
Summary of Marketing and Refining Results
Marketing                                             $   209        $  185
Refining                                                  28            (728)
Trading                                                  (6)          (41)
Results of operations attributable to Hess            $   231        $  (584)
Corporation
                                                               
                                                                        
Operating Data
                                                                        
Sales Volumes
Refined petroleum products (thousands of
barrels per day)
Gasoline                                                  209           222
Distillates                                               113           123
Residuals                                                 53            65
Other                                                    14           20
Total                                                   389          430
                                                                        
Natural gas (thousands of mcf per day)                   2,300        2,200
                                                                        
Electricity (megawatts round the clock)                  4,500        4,400
                                                                        
Retail Marketing
Number of retail stations (a)                             1,361         1,360
Convenience store revenue (in millions) (b)           $   1,123      $  1,189
Average gasoline volume per station                       192           195
(thousands of gallons per month) (b)
                                                                        
Port Reading
Refinery throughput (thousands of barrels per             59            63
day)
Refinery utilization (capacity - 70,000                   83.6%         90.0%
barrels per day)
                                                                        

(a) Includes company operated, Wilco-Hess, dealer and branded retailer.
(b) Company operated only.

Contact:

Hess Corporation
Investor Contact:
Jay Wilson, 212-536-8940
or
Media Contact:
Jon Pepper, 212-536-8550
 
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