The Hess Corporation began as Hess Incorporated in 1933, and was created by 19-year-old Leon Hess in Ashbury Park, New Jersey. The company started with one 615-gallon delivery truck that Leon Hess used to make deliveries to homes in and around his hometown.Continue Reading
Leon Hess purchased five more oil trucks in 1937 to expand his business. He continued to expand throughout the 1930s and '40s by adding more trucks and expanding storage facilities. In 1948, the company acquired its first ship, and it built a refinery in New Jersey 1957. The first gas station bearing the Hess name opened in New Jersey in 1960.
Starting in the 1960s, the company expanded its operations by merging with other companies. In 1962, the company merged with equipment manufacturing company Cletrac Corporation and was renamed Hess Oil & Chemical Corporation. This is also the year the company went public and began selling stock. The company merged with Amerada Petroleum Corporation in 1969, and changed its name to the Amerada Hess Corporation.
Amerada Hess continued to grow throughout the 1980s and '90s by purchasing land and developing gas and oil fields around the world. After more than 60 years of running the company, Leon Hess retired as chairman and CEO in 1995, and was replaced by his son, John B. Hess.
The Amerada Hess Corporation changed its name again in 2006, to Hess Corporation, a name it retains as of 2015. Today, the company continues to expand its properties and retain sustainability.Learn more about Corporations