Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Hess Corp. Closes $1 Bln Sale Of Stake In ACG Fields To ONGC Videsh

RELATED NEWS
Trade HES now with 

Hess Corp (HES: Quote), an independent energy company on Thursday said that it has completed the sale totaling $1 billion of its 2.72 percent stake in the Azeri, Chirag and Guneshli Fields and its 2.36 percent stake in the associated BTC pipeline to ONGC Videsh Ltd.

John Hess, Chairman and Chief Executive of Hess, stated, "This sale is another step in the execution of our strategy to become a more focused, higher growth, lower risk pure play exploration and production company, the after tax net proceeds from this sale will be used to pay down an equivalent amount of short term debt."

Click here to receive FREE breaking news email alerts for Hess Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps will retain his vice president of product title and work on Twitter's geolocation features, the Wall Street... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Visa Inc., the world's largest payment card processor, said Wednesday that its fourth quarter profit fell 10% from last year, hurt mainly by a hefty litigation provision even as revenue increased 9%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.