Hess
Hess Corporation has grown from a small residential fuel oil delivery service to a leading independent energy company engaged in the exploration and production of crude oil and natural gas. The company has an industry-leading position in a key U.S. shale play, the Bakken in North Dakota. Hess is also one of the largest producers in the deepwater Gulf of Mexico and a key natural gas producer and supplier to Peninsular Malaysia and Thailand. The company is engaged in exploration and appraisal activities offshore Guyana.
Hess supports revenue transparency through participation in the Extractive Industries Transparency Initiative (EITI), a voluntary multi-stakeholder group initiative that includes oil and mining companies, governments, civil society groups, international non-governmental organisations and investors. As a supporting company of the EITI since 2004, Hess endorses the initiative’s objective to improve governance through transparency of company payments to governments and supports the EITI’s efforts to attract more countries.
Engagement with the EITI
Hess Corporation has provided data to the EITI upon request. In EITI member countries where Hess has invested, operations will be maintained by Hess' joint venture partners. As of 2022, the company's joint ventures operations in Guyana and Suriname remain in the exploration phase. In Guyana, the Liza Phase 1 development delivered the first production in December 2019.
Hess was pleased that the EITI Board approved both Guyana's and Suriname's candidature applications in 2017 and the company continues to be supportive of all countries where it conducts business to join the EITI.
Strengthening transparency
Hess Corporation's annual sustainability report details its strategy and performance on significant safety, environmental, social and governance programs and initiatives.
Hess reports in accordance with the Global Reporting Initiative (GRI) Standards and G4 Oil and Gas Sector Supplement (OGSS) indicators, and is informed by the Ten Principles of the United Nations Global Compact (UNGC), IPIECA sector-specific guidelines and the Sustainability Accounting Standards Board (SASB). Read more on Hess Corporation 2021 GRI content index on Hess' website.
Company assessment
Download the results of the 2023 assessment of company progress in meeting the Expectations for EITI supporting companies.