Hess explores subsidiary sale in Russia

Source:Hess Corporation
Hess tank

Hess Corporation (NYSE: HES) announced today that as part of the company’s strategic reshaping of its portfolio it will pursue the sale of its Russian subsidiary Samara-Nafta, which produces approximately 50,000 barrels of oil equivalent per day in the Volga-Urals region. Hess has retained Goldman Sachs as its financial adviser in connection with the potential sale.

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

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