Hess to close East Coast network

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Hess Corporation announced Monday that it will pursue the sale of its terminal network in the United States and complete its exit from the refining business by closing its Port Reading, N.J., refinery, according to a company press release.

The terminal network is on the U.S. East Coast and can store 28 million barrels in 19 terminals.

The company's 10-million-barrel St. Lucia oil storage terminal will also be included in the package for sale.

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