COMPANY PROFILE -Hess Corporation
Business Sector :Energy, Oil and Gas
Operating Geography :United States, North America, Global
About Hess Corporation :
An American leading global independent energy company, Hess Corporation is involved in the production and exploration of crude oil and natural gas. Headquartered in New York city, the company was formed by merging of Hess Oil and Chemical and Amerada Petroleum in 1968. Hess Corporation deals with exploration and production off- shore in the United States, Canada, Southeast Asia and South America and on- shore in the United States and Libya. Hess ranked no. 1 place in the following categories: Best Investor Relations, Best CEO, Best Investor Relations Team, Best Environment, Social and Governance and Best Communication of Strategy and Risk Management amid Covid- 19. In 2022 Hess ranked 38 for outstanding environment, social and governance transparency and performance, being the only company to earn a place on the 2022 list. In 2022 Hess earned a top score on the Human Rights Campaign’s Corporate Equality Index and was also awarded as one of the Best Places to Work for LGBTQ+ Equality.
Hess Corporation mission statement is “to be a trusted energy partner. We are committed to help meet the world’s growing energy needs in a safe, environmentally responsible, socially sensitive and profitable way”. The goal of the company is to build trusted partnership and long-term relationship. The Unique Selling Point or USP of Hess Corporation lies in being one of the largest producers in the deep-water Gulf of Mexico and a natural gas supplier and producer to Thailand and Peninsular Malaysia. It is involved in developing and exploration of activities off shore Guyana, being one of the largest oil discoveries in a decade.
Hess Corporation Revenue :
US$ 7.6 billion - FY ending 31st Dec 2021
US$ 4.8 billion - FY ending 31st Dec 2020
Competitive Analysis of Hess Corporation
The SWOT analysis for Hess Corporation is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Good hedging strategy to protect itself from oil price declines
2. Diversified portfolio with short and long cycle assets
3. Operations tested under IEA’s demand and supply scenarios
4. Only US oil company to achieve Level 4 star under TCAD’s assessment
5. Good community engagement and commitment to social responsibility
| 1. Divestment of Shenzi Fields will lower production in Gulf of Mexico
2. Low cash and cash equivalents can affect financial stability
3. Dividend yields have been consistently lower than industry average |
| Opportunities | Threats |
1. Second phase of Liza development to be ready by 2022
2. Payara Field exploration to increase production capacity
3. Plans to undertake active exploration in 2021
| 1. Lower production from hurricane-prone regions
2. Dramatic fluctuations of oil prices recently
3. Reduction in energy demand due to COVID-19 |
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Detailed SWOT Analysis of Hess Corporation
Strength
1. Good hedging strategy to protect itself from oil price declines: Hess Corp. is a global energy company in New York. The company is engaged in oil exploration and production of crude oil and natural gas. Hess Corp has good financial records and has exceeded earnings estimates even in the pandemic-hit year FY20. Oil prices have always been volatile and very sensitive to political developments and economic factors. Forecasts for oil prices in 2021 are also bleak and highly uncertain. To protect itself from falling oil prices, Hess Corp has adopted a hedging policy where it hedged over 150,000 barrels of oil per day for 2021. Moreover, Hess Corp also works on preserving cash to improve liquidity, and they also try to reduce operation costs wherever possible. These measures not only boost profitability but also has a positive effect on investor sentiments.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Hess Corporation is presented below in a matrix followed by the detailed analysis report:
| Political | Economical |
1. Policymakers are pushing for shift to clean energy
2. Asia dominates growth in oil demand
| 1. Need for expansionary fiscal policy to stimulate consumption
2. Oil prices fell drastically during COVID-19
3. Demand for aviation fuel hardest hit
|
| Social | Technological |
1. Rise in environmental awareness and demand for clean energy
2. Falling demand for jobs in oil industry
| 1. Carbon-capture technology can reduce greenhouse emissions |
| Legal | Environmental |
1. ICE vehicle ban may reduce demand for oil
2. Clean Air Act impacts the oil drilling industry
| 1. Aligned with TCFD’s recommendations |
Hess Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Hess Corporation
Political
1. Policymakers are pushing for shift to clean energy: Newly elected US President Biden recently chaired the Climate Summit 2021 to coincide with Earth Day. Over 40 national leaders were invited, and discussions were held regarding cutting down greenhouse gas emissions to reach UN targets ahead of the COP26 meeting to be held in Glasgow later this year. The summit also made it clear to the world that the US was eager to re-join international efforts to boost sustainability.US committed to cut down its greenhouse gas emissions by 50% by 2030 and UK promised a 78% cut in emissions by 2035 compared to its 1995 levels. Japan and Canada also committed to cut down emissions by 46% and 40-45% respectively. EU promised to cut down emissions by 55% below 1990 levels by 2030. China promised to reduce coal consumption and South Korea agreed to stop the public financing of coal-powered plants. Oil and gas sector is going to be hard-hit from these policy changes and the demand for oil may reduce even more in the future.
The remaining section under "Political" is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Hess International Holdings Ltd
- Hess Equatorial Guinea
- Hess Capital Services Corp
- Hess Oil Virgin Islands Corp
- Hess (Netherlands) Oil and Gas Holdings
- Hess International Holdings Ltd
Hess Corporation SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Check Out Analysis of Other Relevant Companies
References used in Hess Corporation SWOT & PESTLE Analysis Report
1. Annual Report - https://investors.hess.com/static-files/0869f80e-06ec-419d-b18a-b51d34968c44
2. Why Seasoned Investors are Holding on to Hess Corp. (HES) Stock - https://finance.yahoo.com/news/why-seasoned-investors-holding-hess-144002376.html
3. Oil markets face uncertain future after rebound from historic Covid-19 shock - https://www.iea.org/news/oil-markets-face-uncertain-future-after-rebound-from-historic-covid-19-shock
4. Impact of COVID-19 on Commodity Markets Heaviest on Energy Prices; Lower Oil Demand Likely to Persist Beyond 2021 - https://www.worldbank.org/en/news/press-release/2020/10/22/impact-of-covid-19-on-commodity-markets-heaviest-on-energy-prices-lower-oil-demand-likely-to-persist-beyond-2021
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Hess Corporation SWOT and PESTLE analysis has been conducted by Anangsha Saha and reviewed by senior analysts from Barakaat Consulting.
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