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Hess (HES) +5.4% premarket after announcing plans to sell its U.S. terminal network, which has...

Hess (HES) +5.4% premarket after announcing plans to sell its U.S. terminal network, which has 28M barrels of storage capacity; Goldman Sachs to assist in the divestiture. HES also will complete its exit from the refining business by closing its Port Reading, N.J., refinery. HES says the moves will allow it to "redeploy substantial additional capital to fund... future growth opportunities."
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  • User 353732
    , contributor
    Comments (4785) | Send Message
     
    The opportunities in North American E&P are now so great and growing that corporate and financial focus on these opportunities is essential for delivering expected value for shareholders and comparing favorably with the peer.
    Integration of upstream, midstream and downstream businesses is now a model that suits only the largest global oil and gas companies.
    29 Jan 2013, 05:21 AM Reply Like
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