Hess reports dismal second quarter, retail slog continues despite volume increase

摘要

Hess' second quarter earnings paled compared to the same period in 2008, but the aggressive East Coast retailer was able to capture some additional market share at the pump.rnNet income dropped to $100 million from a second quarter 2008 number of $900 million, thanks mostly to sharply lower prices for crude oil and natural gas. Downstream sales volumes increased, but profits did not. Marketing and refining lost $30 million in the quarter, but the trading segment had a profit of $9 million in the quarter, on top of $19 million in the first three months. In contrast, operations at some 1,355 Hess-branded gasoline stations have delivered a six month loss of $53 million, including $ 13 million in the second quarter.