HOVENSA L.L.C. Joint Venture (Tables)

12 Months Ended

Dec. 31, 2011

Joint Venture [Abstract]

Summarized Financial Information

	2011			2010			2009
	(Millions of dollars)
Summarized Balance Sheet, at December 31
Cash and cash equivalents	$	42		$	45		$	78
Other current assets		329			668			580
Net fixed assets		—			1,987			2,080
Other assets		10			27			33
Current liabilities, including member support		(1,858	)		(1,001	)		(953	)
Long-term debt		—	*		(706	)		(356	)
Deferred liabilities and credits		(115	)		(135	)		(137	)
Members’ equity	$	(1,592	)	$	885		$	1,325
Carrying value of Hess Corporation’s equity investment	$	—		$	158		$	681
Summarized Income Statement, for the years ended December 31
Sales	$	13,126		$	12,258		$	10,048
Costs and expenses		(15,613	)		(12,696	)		(10,499	)
Net income (loss)	$	(2,487	)	$	(438	)	$	(451	)
Hess Corporation’s income (loss) from equity investment in HOVENSA L.L.C.	$	(1,073	)**	$	(522	)**	$	(229	)

* Long-term debt of $356 million was classified as a current liability, resulting from HOVENSA’S tender offer in January 2012 to repurchase the debt.

** The Corporation’s share of HOVENSA’s 2011 loss excludes $300 million previously recorded in 2010 for the partial impairment of the Corporation’s investment.