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AMERADA HESS REPORTS EARNINGS

 AMERADA HESS REPORTS EARNINGS
 NEW YORK, Jan. 23 /PRNewswire/ -- Amerada Hess Corporation


(NYSE: AHC) today reported a net loss for the fourth quarter of 1991 of $51,600,000 ($.64 per share) compared with net income of $235,200,000 ($2.90 per share) for the fourth quarter of 1990. Fourth quarter 1990 earnings included $87,300,000 ($1.08 per share) from the settlement of business interruption insurance claims.
 Exploration and production earnings were $49,200,000 in the fourth quarter of 1991 compared with earnings of $157,200,000 in the fourth quarter of 1990. Refining and marketing operations had a loss of $82,700,000 in the fourth quarter of 1991 compared with earnings of $116,100,000 in the fourth quarter of 1990. Refining and marketing earnings in the fourth quarter of 1990 included the insurance recovery described above and net gains of $114,600,000 from petroleum trading activities. There were substantial inventory write-downs in the fourth quarter of each year. Corporate charges, net of earnings from other operating activities, amounted to $18,100,000 in the fourth quarter of 1991 compared with $38,100,000 in the fourth quarter of 1990.
 Net income for the year 1991 amounted to $84,300,00 ($1.04 per share) compared with net income of $482,700,000 ($5.96 per share) in 1990. Earnings from exploration and production activities amounted to $240,800,000 for the year 1991 compared with earnings of $240,300,000 for the year 1990. Refining and marketing operations had a loss of $126,300,000 for the year 1991 compared with earnings of $375,800,000 for the year 1990, including net gains of $328,800,000 from petroleum trading activities.
 Consolidated revenues for the fourth quarter of 1991 totaled $1,621,800,000 compared to revenues of $2,435,900,000 for the fourth quarter of 1990. Consolidated revenues amounted to $6,416,300,000 for the year 1991 compared with $7,081,100,000 for the year 1990.
 Capital expenditures for the year 1991 amounted to $1,712,300,000 of which approximately $1,292,900,000 related to exploration and production activities. Capital expenditures for the year 1990 amounted to $1,461,400,000 including $1,265,200,000 for exploration and production.
 AMERADA HESS CORPORATION
 Three months ended Dec. 31: 1991 1990
 (Unaudited)
 Total revenues $1,621,800,000 $2,435,900,000
 Net income (loss) (51,600,000) 235,200,000(A)
 Net income (loss) per share ($.64) $2.90
 Wtd. average number of shares 81,100,000 81,100,000
 Year ended Dec. 31: 1991 1990
 (Unaudited)
 Total revenues $6,416,300,000 $7,081,100,000
 Net income (loss) 84,300,000 482,700,000(A)
 Net income (loss) per share $1.04 $5.96
 Wtd. average number of shares 81,100,000 81,100,000
 (A) -- Includes net gains of $114,600,000 and $328,800,000 in the fourth quarter and year, respectively, from petroleum trading activities and $87,300,000 from the settlement of business interruption insurance claims.
 -0- 1/23/92
 /CONTACT: C. T. Tursi of Amerada Hess, 212-536-8593/
 (AHC) CO: Amerada Hess Corporation ST: New York IN: OIL SU: ERN


JT-TS -- NY060 -- 2827 01/23/92 12:59 EST
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Date:Jan 23, 1992
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