History
The Amerada Corporation was formed in 1919. It served as a holding company for its principal subsidiary, the Amerada Petroleum Corporation.On December 1941, the holding company was merged with its principal operating subsidiary into a simplified operating company.
The new entity adopted the former subsidiary's name. Hess Oil and Chemical acquired 10% of the company in 1966. In December 1968, Hess and Amerada announced plans for a merger and became known as Amerada Hess Corporation. The company changed its name from Amerada Hess to Hess Corporation on May 8, 2006. Today, Hess Corporation is a leading global independent energy company.
Mission
The mission of Hess is:- To maximize shareholder value by enhancing financial performance and providing long-term profitable growth.
- To meet the highest standards of corporate citizenship by protecting the health and safety of their employees, safeguarding the environment and creating a long-lasting, positive impact on the communities in which they do business.
- To maximize financial returns from existing assets.
Area of Operation
The businesses of Hess are:- Exploration & Production (Crude Oil & Natural Gas):
- Global Operations
- Global Exploration
- Marketing & Refining (Petroleum products, Natural Gas & Electricity):
- Retail Marketing
- Energy Marketing
- Refining
- Supply & Terminals
Key Statistics
- Hess holds assets of $19.11 billion.
- Hess has made profits of $1.24 billion in 2006.
- Hess operates in United States, United Kingdom, Norway, Denmark, Equatorial Guinea, Gabon, Azerbaijan, Thailand and Indonesia.
- Hess has 11,610 employees.
Organization
The organization is provided corporate governance by:- Board of Directors
- Management
- Board Committees
International Ranking
- Hess ranks 263 in Fortune Global 500 list.
Headquarter Address
1185 Sixth AvenueNew York, NY 10036
USA
Phone: 212-997-8500
Website URL: www.hess.com
