Hess (HES +3.8%) shares are strong on Murphy Oil's (MUR +8.8%) move to spin off its U.S. fuel-making business into a new company. Conoco used a similar strategy earlier this year when it spun off its fuels, petrochemicals and pipeline businesses into Phillips 66. HES operates in two segments - exploration and production, and marketing and refining - making it a potential candidate for a spinoff.
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