Hess Corporation to Contribute $20 Million for Educational Initiative in Equatorial Guinea.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Hess Corporation The Hess Corporation (NYSE: HES) is an integrated oil company based in New York City. The company changed its name from Amerada Hess as of May 8, 2006. The company explores, produces, transports, and refines oil. (NYSE NYSE See: New York Stock Exchange :HES) has joined with the Republic of Equatorial Guinea Equatorial Guinea (gĭn`ē), officially Republic of Equatorial Guinea, republic (2005 est. pop. 536,000), 10,830 sq mi (28,051 sq km), W central Africa. in a $40 million program to support education in the West African West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. country. Hess and Equatorial Guinea are each committing $20 million over the next five years. The program, which is to strengthen the country's educational system for children ages 6 to 18, will focus on training for teachers, new learning initiatives and infrastructure development for schools. The program will be overseen by the Ministry of Education and supported by the Academy for Educational Development, an international nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. that works to improve education, health and economic development around the world. "We are proud to make this important social investment in a sustainable education program for the children and people of Equatorial Guinea," said John B. Hess John B. Hess (born on April 5, 1954) is the Chairman and CEO of Hess Corporation. He was born in 1954 to Leon Hess and he graduated Harvard College in 1975; and Harvard University with an MBA in 1977. He married Susan Elizabeth Kessler. , Chairman and Chief Executive Officer. "Coupled with our significant financial commitment to develop the oil resources of the country, this program will advance the economic development of Equatorial Guinea." Hess Corporation, with headquarters in New York, is a global, integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas. The Corporation also manufactures, purchases, trades and markets refined petroleum and other energy products. Forward looking statement Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and interpretation of geological, geophysical and other technical data. |
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