Hess says refining operations lost $40 mln in Q4

HOUSTON, Jan 27 (BestGrowthStock) – Hess Corp (HES.N: ) said on
Wednesday its refining operations lost $40 million in the
fourth quarter of 2009 because of lower refining margins, while
run rates dropped at its two refineries.

Crude runs for Hovensa LLC, the company’s 500,000
barrel-per-day (bpd) refinery in Kingshill, Virgin Islands,
fell 5.35 percent to 371,000 bpd compared to the last quarter
of 2008, Hess said.

Throughput at the company’s 70,000 barrel-per-day
gasoline-making fluidic catalytic cracker at its Port Reading,
New Jersey, refinery fell to 61,000 bpd, down 4.7 percent from
the fourth quarter of 2008.

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(Reporting by Kristen Hays; Editing by David Gregorio)

Hess says refining operations lost $40 mln in Q4