Hess 2008 Annual Report Download - page 10

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REFINING Our HOVENSA joint venture refinery
in the United States Virgin Islands is
one of the largest in the world. It is jointly owned
by the company and Petroleos de Venezuela S.A.
The facility is strategically positioned and enjoys
strong economies of scale.
The refinery has 500,000 barrels per day of crude
distillation capacity and a 150,000 barrel per day
fluid catalytic cracking unit (FCC), which allows it to
make significant volumes of high-quality gasoline
and distillates. In addition, the refinery has a 58,000
barrel per day delayed coking unit, which enables
the refinery to process lower-cost heavy crude oils.
Gross crude runs at the refinery averaged 441,000
barrels per day in 2008 versus 454,000 barrels per
day in 2007. Lower crude runs in 2008 reflected
the impact of Hurricane Omar in October and
maintenance activities during the year.
Our Port Reading, New Jersey FCC facility located
near New York Harbor produces gasoline and fuel oil
primarily for markets in the Northeast. The facility
averaged feedstock runs of about 64,000 barrels per
day in 2008 versus 61,000 barrels per day in 2007.
SUPPLY & TERMINALS Hess operates a
network of 21 refined
product terminals on the East Coast of the U.S.,
including a deepwater terminal in Bronx, New
York, that was acquired in the fourth quarter.
We also operate an oil storage facility in St. Lucia.
Our East Coast terminals provide the company a
competitive advantage in the supply of refined
MARKETING
AND REFINING
8