Hess closes sale of energy marketing unit

Hess Corp. has completed the sale of its energy marketing business to Direct Energy, a subsidiary of Centrica PLC (OGJ Online, July 30, 2013).

It said total consideration was $1.2 billion, higher than reported when the deal was announced at midyear because of increased working capital at closing.

The acquired business supplies natural gas and electricity to 23,000 commercial, industrial, and small-business customers in the eastern half of the US.

Its sale is part of Hess’s withdrawal from downstream businesses.

Related Articles

WoodMac: US tight-oil market ‘too robust to bust’

03/25/2014 A drop in global oil price levels or a significant widening of the differential between global oil prices and inland realizations are just two of t...

Gorder named Valero chief executive officer

03/25/2014

Joe Gorder, Valero Energy Corp. president and chief operating officer, has been named chief executive officer, succeeding Bill Klesse.

Double Eagle changes name, appoints chief executive officer

03/25/2014 Double Eagle Petroleum Co., Denver, has appointed Charles F. Chambers to the position of chairman and chief executive officer, effective Apr. 1. As...

MOL closes purchase of North Sea assets from Wintershall

03/25/2014 MOL Group, Budapest, has completed its transaction with Wintershall, Kassell, Germany, in which MOL acquires offshore assets with 14 licenses in th...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected