Refining Joint Venture (Tables)

9 Months Ended

Sep. 30, 2011

Refining Joint Venture [Abstract]

Summarized balance sheet

	September 30,			December 31,
	2011			2010
	(Millions of dollars)
Summarized balance sheet
Cash and cash equivalents	$	3		$	45
Other current assets		535			668
Net fixed assets		1,926			1,987
Other assets		23			27
Current liabilities		(1,230	)		(1,001	)
Long-term debt		(523	)		(706	)
Deferred liabilities and credits		(126	)		(135	)
Members’ equity	$	608		$	885
Carrying value of Hess Corporation’s equity investment (*)	$	26		$	158

(*) In addition, the Corporation has prepaid $119 million to HOVENSA for inventory purchases at September 30, 2011. 

Summarized income statement

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2011			2010			2011			2010
				(Millions of dollars)
Summarized income statement
Total revenues	$	3,617		$	3,276		$	10,198		$	9,188
Cost and expenses		(3,693	)		(3,439	)		(10,477	)		(9,531	)
Net income (loss)	$	(76	)	$	(163	)	$	(279	)	$	(343	)
Hess Corporation’s income (loss) from equity investment in HOVENSA L.L.C. (*)	$	(36	)	$	(83	)	$	(133	)	$	(174	)

(*) Reflects the amortization of basis differences between the carrying value of the Corporation’s investment and its equity in the net assets of HOVENSA.