Hess Selling Gas Stations
The Associated Press reports that the company will shift its focus on exploration and production instead of retail.
Following criticism from a major stockholder, Hess announced plans to sell off its retail locations, which span from New Hampshire to Florida, on Monday, the Associated Press reports. Instead, the New York-based company will channel its efforts into exploration and production, the news outlet reports. The hedge fund Elliott Management, which owns 4 percent of Hess, accused the company's board of "poor oversight" and said it was responsible for "decades of failure." The New York Times reported the company plans to sell both retail and refinery locations. There is one gas station on Ritchie Highway in Glen Burnie and a Hess oil refinery in nearby Curtis Bay. Hess shares fell drastically after the 2008 economic collapse, but stock started …
A Corn
12:44 pm on Wednesday, March 6, 2013
Oh no, where will I go to buy the trucks for Christmas? more ›