SOURCE: Industrial Info Resources

Industrial Info Resources

January 26, 2012 06:20 ET

Hess Corporation Sees Setbacks in Fourth-Quarter, Full-Year 2011, Turns to Unconventionals for Stronger Growth, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Jan 26, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Global energy company Hess Corporation (NYSE:HES) (New York, New York) reported a drop in earnings for fourth-quarter and full-year 2011, as an expense related to the shutdown of a refinery more than negated some steady gains. For the quarter, Hess reported a net loss of $131 million, compared with net income of $58 million in fourth-quarter 2010. For the year, the company reported $1.7 billion in net income, a 19.86% decrease from 2010.

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