Hess Closing Its Gas Stations
The company will instead focus on oil production and exploration.
UPDATE: A Hess spokesperson says previous reports are not true and that stations will not be closing.
Hess has announced it's closing its gas stations and will focus on “exploration and production,” according to media sources on Monday.
Recently, Elliott Management, one of the company’s largest shareholders, "accused the board of ‘poor oversight,’ and said that the company’s management was responsible for more than a ‘decade of failures,’” reported the Associated Press.
Hess will close its gas stations, including the stations on North and Derby streets in Salem, and focus on other parts of the business, including oil exploration and production. Many of the stations are owned by Hess rather than franchises, reported AP.