Hess Plans to Sell Off its Gas Stations

Hess is reportedly planning to sell off all of its gas stations and get out of the oil refining business.

What that means for the future of the gas station on State Road/U.S. 1 on the border between Springfield and Upper Darby is still uncertain. The station routinely sells gas for several cents less a gallon than its across-the-street AM/PM competitior.

According to a report on the New York Times' Dealbook website Hess is planning to sell off its gas staion and refining businesses and streamline operations in order to fend off a take over.

"The streamlining comes as it seeks to fight off an activist investor, the hedge fund Elliott Management, although Hess presented the new strategy as the culmination of a multiyear campaign," the article reported.

Springfield Patch will update the status of the Hess Station on State Road as the story develops.