Hess 2008 Annual Report Download - page 90

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Financial information by major geographic area for each of the three years ended December 31, 2008:
United States Europe Africa
Asia and
Other Consolidated
(Millions of dollars)
2008
Operating revenues ............... $33,233 $3,488 $3,173 $1,271 $41,165
Property, plant and equipment (net). . . 5,319 3,674 4,139 3,139 16,271
2007
Operating revenues ............... $25,450 $2,647 $2,443 $1,107 $31,647
Property, plant and equipment (net). . . 3,611 3,749 4,599 2,675 14,634
2006
Operating revenues ............... $22,599 $3,108 $1,677 $ 683 $28,067
Property, plant and equipment (net). . . 2,402 3,255 4,495 2,156 12,308
18. Related Party Transactions
Related party transactions for the year-ended December 31:
2008 2007 2006
(Millions of dollars)
Purchases of petroleum products:
HOVENSA* .......................................... $6,589 $5,238 $4,694
Sales of petroleum products and crude oil:
WilcoHess............................................ 2,590 2,014 1,664
HOVENSA ........................................... 701 213 179
* The Corporation has agreed to purchase 50% of HOVENSA’s production of refined products at market prices, after sales by HOVENSA to
unaffiliated parties.
19. Subsequent Event
In February 2009, the Corporation issued $250 million of 5 year senior unsecured notes with a coupon of 7%
and $1 billion of 10 year senior unsecured notes with a coupon of 8.125%. The majority of the proceeds were used to
repay revolving credit debt and outstanding borrowings on other credit facilities. The remainder of the proceeds is
available for working capital and other corporate purposes.
74
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)