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BullsOil.com  U.S. Giants  >  Hess
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The Hess Corporation (NYSE: HES) (formerly known as Amerada Hess Corporation prior to May 8, 2006 and Amerada Oil and Chemical Company in 1919) is an integrated oil company based in New York City. The company explores, produces, transports, and refines crude oil as well as natural gas. Vertically completing the logistical chain, over 1,200 filling stations market gas to consumers primarily on the East Coast of the United States. Although towered over in size by enormous global players in the same industry, Hess placed a formidable #75 in the 2007 Fortune 500 rankings.

Formed in 1919, the Amerada Corporation was a holding company for its principal subsidiary, the Amerada Petroleum Corporation. The oil producer experienced solid growth during most of the 1920s, hitting a peak in 1926 with a net income of USD 4.9 million. However, in the years leading to the Great Depression, weakness in the oil markets contributed to sluggish profits. The aftermath of the market crash aggravated the unsteady oil industry. In the first quarter of 1930, the company experienced a minor loss. The early years of the Depression was a struggle against wavering demand and overproduction in some regions. Later into the 1930s, the financial forecast became more sanguine for Amerada.

Hess Oil and Chemical, an oil refiner and marketer founded by Leon Hess (who later owned the New York Jets), in 1966 acquired 10% of the company for USD 100 million after the British government sold its stake, which was amassed during World War II. Hess and Amerada would announce plans for a merger in December 1968. Some Amerada stockholders led by Morton Adler criticized the arrangement as being too favorable for Hess.
Type Public (NYSE: HES)
Founded 1919
Headquarters New York City and
Woodbridge, New Jersey
Industry Oil and Gasoline
Products Petrochemical
Employees 11,610