(Image courtesy of Hess)

Hess Corp. continues its withdrawal from downstream businesses with the completion of the sale of its energy marketing business to Direct Energy, a subsidiary of Centrica PLC.

The total value of the deal is $1.2 billion, according to the company.

Proceeds were higher than originally announced due to increased working capital at closing.

The acquired energy marketing business supplies natural gas and electricity to 23,000 commercial, industrial, and small-business customers in the eastern US.


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