1185 Avenue of the Americas
New York, NY 10036
CEO: John Hess
Hess is a leading energy company with operations in 23 countries, engaged in the exploration and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products, natural gas, and electricity.
Exploration and production is the engine of the company's future income and growth, currently representing nearly 70% of capital employed and over 95% of annual capital expenditures. The Company has operations in the United States, United Kingdom, Norway, Denmark, Equatorial Guinea, Ghana, Libya, Iraq, Australia and Indonesia.
The company sells its gas through over 1,350 retail faciltiies on the East Coast from Massachusetts to Florida serving 1.3 million customers daily. Dunkin' Donuts, Blimpie sandwiches and Godfather's pizzas are other brands sold at Hess stores.
Each day, Hess moves more than 700,000 barrels of crude oil, refinery feedstocks and finished products by tankers, barges, pipelines and production platform sales. The company operates 20 petroleum terminals on the U.S. East Coast with 22 million barrels of storage capacity for distillate, gasoline and residual fuel oil.
The Hess Corporation has offices in 20 countries across six continents. The company's headquarters is in New York City, with key regional headquarters in Houston; London; Kuala Lumpur, Malaysia and Woodbridge, NJ.
In 2011, Hess total revenues were $37.8 billion, up from $34.6 billion the previous year on increases in oil prices. Net income for 2011 was $1.7 billion.
Oil and gas proven reserves were 1.57 billion barrels of oil equivalent at the end of 2011, up from 1.53 billion at the end of 2010. The company added 203 million barrels of proven reserves in 2011.
In 1919 British oil entrepreneur Lord Cowdray
formed Amerada Corporation to explore for oil in North America.
After WWII Amerada began exploring overseas and during the 1950s
entered pipelining and refining. It continued its overseas exploration
through Oasis, a consortium formed in 1964 with Marathon, Shell,
and Continental to explore in Libya.
Leon Hess began to buy stock in Amerada
in 1966. The son of Russian immigrants, he had entered the oil
business during the Depression, selling "resid" --
thick refining leftovers that refineries discarded -- from a
1929 Dodge truck in Asbury Park, NJ. He bought the resid cheap
and sold it as heating fuel to hotels. Hess also speculated,
buying oil at low prices in the summer and selling it for a profit
in the winter. He later bought more trucks, a transportation
network, refineries, and gas stations and went into oil exploration.
Expansion pushed up debt, so in 1962 Leon's company went public
as Hess Oil and Chemical after merging with Cletrac Corporation.
Hess acquired Amerada in 1969. Leon Hess
was an owner of the NY Jets football team and died in 1999. His
son John is the current CEO.
The company changed its name from Amerada Hess to the Hess Corporation in 2007.
- Competitive Salary
- Cash Bonus Plan
- Savings and Stock Ownership Plan
- Defined-Benefit Pension Plan
- Medical, Dental and Vision Plan
- Accidental Death and Disability Insurance
- Life Insurance
- Education Assistance
- Flexible Spending Accounts (U.S. only)
- Work/Life Referral Services
- Employee Assistance Programs (EAP)
- Professional Memberships
- Subsidized Dining Facilities
- Supplier Discount Programs
- Financial Planning Workshops