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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2013	Jun. 28, 2013
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Trading Symbol	HES
Entity Registrant Name	HESS CORP
Entity Central Index Key	0000004447
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	325,314,177
Entity Public Float		$ 20,200,000,000

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 1,814	$ 642
Accounts receivable
Trade	3,093	4,057
Other	432	281
Inventories	954	1,259
Assets held for sale	1,097	1,092
Other current assets	1,209	1,056
Total current assets	8,599	8,387
INVESTMENTS IN AFFILIATES	687	443
PROPERTY, PLANT AND EQUIPMENT
Total - at cost	45,950	45,553
Less: Reserves for depreciation, depletion, amortization and lease impairment	17,179	16,746
Property, plant and equipment - net	28,771	28,807
GOODWILL	1,869	2,208
DEFERRED INCOME TAXES	2,319	3,126
OTHER ASSETS	509	470
TOTAL ASSETS	42,754	43,441
CURRENT LIABILITIES
Accounts payable	2,109	2,809
Accrued liabilities	3,265	3,287
Taxes payable	520	960
Liabilities associated with assets held for sale	286	539
Short-term debt and current maturities of long-term debt	378	787
Total current liabilities	6,558	8,382
LONG-TERM DEBT	5,420	7,324
DEFERRED INCOME TAXES	2,292	2,662
ASSET RETIREMENT OBLIGATIONS	2,249	2,212
OTHER LIABILITIES AND DEFERRED CREDITS	1,451	1,658
Total liabilities	17,970	22,238
Hess Corporation stockholders' equity
Common stock, par value $1.00 Authorized - 600,000,000 shares Issued: 2013 - 325,314,177 shares; 2012 - 341,527,617 shares	325	342
Capital in excess of par value	3,498	3,524
Retained earnings	21,235	17,717
Accumulated other comprehensive income (loss)	(338)	(493)
Total Hess Corporation stockholders' equity	24,720	21,090
Noncontrolling interests	64	113
Total equity	24,784	21,203
TOTAL LIABILITIES AND EQUITY	$ 42,754	$ 43,441

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	325,314,177	341,527,617

Statement of Consolidated Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUES AND NON-OPERATING INCOME
Sales (excluding excise taxes) and other operating revenues	$ 22,284	$ 23,381	$ 21,451
Loss from equity investment in HOVENSA L.L.C.			(1,073)
Gains on asset sales, net	2,174	584	446
Other, net	(37)	121	32
Total revenues and non-operating income	24,421	24,086	20,856
COSTS AND EXPENSES
Cost of products sold (excluding items shown separately below)	11,368	11,500	10,528
Operating costs and expenses	2,116	2,202	1,876
Production and severance taxes	372	550	476
Marketing expenses	867	802	814
Exploration expenses, including dry holes and lease impairment	1,031	1,070	1,195
General and administrative expenses	709	613	613
Interest expense	406	419	383
Depreciation, depletion and amortization	2,770	2,922	2,373
Asset impairments	289	582	358
Total costs and expenses	19,928	20,660	18,616
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	4,493	3,426	2,240
Provision for income taxes	525	1,559	709
INCOME FROM CONTINUING OPERATIONS	3,968	1,867	1,531
INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	1,254	196	145
NET INCOME	5,222	2,063	1,676
Less: Net income (loss) attributable to noncontrolling interests	170	38	(27)
NET INCOME ATTRIBUTABLE TO HESS CORPORATION	$ 5,052	$ 2,025	$ 1,703
BASIC:
Continuing operations	$ 11.28	$ 5.40	$ 4.62
Discontinued operations	3.73	0.58	0.43
NET INCOME PER SHARE	15.01	5.98	5.05
DILUTED:
Continuing operations	11.14	5.37	4.58
Discontinued operations	3.68	0.58	0.43
NET INCOME PER SHARE	$ 14.82	$ 5.95	$ 5.01
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)	340.9	340.3	339.9

Statement of Consolidated Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 5,222	$ 2,063	$ 1,676
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income	(33)	676	690
Income taxes on effect of hedge (gains) losses reclassified to income	18	(252)	(258)
Net effect of hedge (gains) losses reclassified to income	(15)	424	432
Change in fair value of cash flow hedges	68	(156)	4
Income taxes on change in fair value of cash flow hedges	(25)	60	(2)
Net change in fair value of cash flow hedges	43	(96)	2
Change in derivatives designated as cash flow hedges, after-tax	28	328	434
Pension and other postretirement plans
Reduction (increase) of unrecognized actuarial losses	414	(100)	(439)
Income taxes on actuarial changes in plan liabilities	(157)	39	164
Reduction of unrecognized actuarial losses, net	257	(61)	(275)
Amortization of net actuarial losses	63	85	48
Income taxes on amortization of net actuarial losses	(23)	(32)	(19)
Net effect of amortization of net actuarial losses	40	53	29
Change in pension and other postretirement plans, after-tax	297	(8)	(246)
Foreign currency translation adjustment
Foreign currency translation adjustment	(283)	256	(94)
Reclassified to Gains on asset sales, net	119
Change in foreign currency translation adjustment	(164)	256	(94)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	161	576	94
COMPREHENSIVE INCOME	5,383	2,639	1,770
Less: Comprehensive income (loss) attributable to noncontrolling interests	176	40	(25)
COMPREHENSIVE INCOME ATTRIBUTABLE TO HESS CORPORATION	$ 5,207	$ 2,599	$ 1,795

Statement of Consolidated Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 5,222	$ 2,063	$ 1,676
Adjustments to reconcile net income to net cash provided by operating activities
Gains on asset sales, net	(2,174)	(584)	(446)
Depreciation, depletion and amortization	2,770	2,922	2,373
Loss from equity investment in HOVENSA L.L.C.			1,073
Asset impairments	289	582	358
Exploratory dry hole costs	344	377	438
Lease impairment	245	223	301
Stock compensation expense	60	83	86
Provision (benefit) for deferred income taxes	(460)	(575)	(699)
Income from discontinued operations	(1,254)	(196)	(145)
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(185)	540	(280)
(Increase) decrease in inventories	116	66	(51)
Increase (decrease) in accounts payable and accrued liabilities	(675)	188	323
Increase (decrease) in taxes payable	(435)	28	46
Changes in other assets and liabilities	(274)	(144)	(143)
Cash provided by operating activities - continuing operations	3,589	5,573	4,910
Cash provided by operating activities - discontinued operations	1,281	87	74
Net cash provided by operating activities	4,870	5,660	4,984
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(5,840)	(7,743)	(6,941)
Proceeds from asset sales	4,458	843	490
Other, net	(224)	(60)	(50)
Cash provided by (used in) investing activities - continuing operations	(1,606)	(6,960)	(6,501)
Cash provided by (used in) investing activities - discontinued operations	2,184	(91)	(65)
Net cash provided by (used in) investing activities	578	(7,051)	(6,566)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings (repayments) of debt with maturities of 90 days or less	(1,748)	1,648	100
Debt with maturities of greater than 90 days
Borrowings	535	630	422
Repayments	(1,271)	(433)	(100)
Cash dividends paid	(235)	(171)	(136)
Common stock acquired and retired	(1,493)
Noncontrolling interests, net	(190)	(1)	(47)
Employee stock options exercised, including income tax benefits	128	11	88
Cash provided by (used in) financing activities - continuing operations	(4,274)	1,684	327
Cash provided by (used in) financing activities - discontinued operations	(2)	(2)	(2)
Net cash provided by (used in) financing activities	(4,276)	1,682	325
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,172	291	(1,257)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	642	351	1,608
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 1,814	$ 642	$ 351

Statement of Consolidated Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Capital in Excess of Par [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Hess Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2010	$ 16,809	$ 338	$ 3,256	$ 14,254	$ (1,159)	$ 16,689	$ 120
Net income	1,676			1,703		1,703	(27)
Other comprehensive income (loss)	94				92	92	2
Comprehensive income (loss)	1,770					1,795	(25)
Activity related to restricted common stock awards, net	53	1	52			53
Employee stock options, including income tax benefits	139	1	138			139
Cash dividends declared	(136)			(136)		(136)
Noncontrolling interests, net	(43)		(29)	5		(24)	(19)
Ending balance at Dec. 31, 2011	18,592	340	3,417	15,826	(1,067)	18,516	76
Net income	2,063			2,025		2,025	38
Other comprehensive income (loss)	576				574	574	2
Comprehensive income (loss)	2,639					2,599	40
Activity related to restricted common stock awards, net	57	2	55			57
Employee stock options, including income tax benefits	44		44			44
Performance share units	8		8			8
Cash dividends declared	(136)			(136)		(136)
Noncontrolling interests, net	(1)			2		2	(3)
Ending balance at Dec. 31, 2012	21,203	342	3,524	17,717	(493)	21,090	113
Net income	5,222			5,052		5,052	170
Other comprehensive income (loss)	161				155	155	6
Comprehensive income (loss)	5,383					5,207	176
Activity related to restricted common stock awards, net	33	1	32			33
Employee stock options, including income tax benefits	139	2	137			139
Performance share units	10		10			10
Cash dividends declared	(235)			(235)		(235)
Common stock acquired and retired	(1,538)	(20)	(205)	(1,313)		(1,538)
Noncontrolling interests, net	(211)			14		14	(225)
Ending balance at Dec. 31, 2013	$ 24,784	$ 325	$ 3,498	$ 21,235	$ (338)	$ 24,720	$ 64

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1.	Summary of Significant Accounting Policies

Nature of Business: Hess Corporation with its subsidiaries (collectively referred to as the Corporation or Hess) is a global Exploration and Production (E&P) company that develops, produces, purchases, transports and sells crude oil and natural gas. Prior to 2013, the Corporation also operated a Marketing and Refining (M&R) segment, which it began to divest during the year. The M&R businesses manufacture refined petroleum products and purchase, market, store and trade refined products, natural gas and electricity, as well as operate retail gas stations, most of which have convenience stores. See also Note 21, Segment Information in the notes to the Consolidated Financial Statements for a description of the Corporation’s reportable segments at December 31, 2013.

In the first quarter of 2013, the Corporation announced several initiatives to continue its transformation into a more focused pure play E&P company. The transformation plan included fully exiting the Corporation’s M&R businesses, including its terminal, retail, energy marketing and energy trading operations, as well as the permanent shutdown of refining operations at its Port Reading facility, thus completing its exit from all refining operations. HOVENSA L.L.C. (HOVENSA), a 50/50 joint venture between the Corporation’s subsidiary, Hess Oil Virgin Islands Corp. (HOVIC), and a subsidiary of Petroleos de Venezuela S.A. (PDVSA) had previously shut down its United States (U.S.) Virgin Islands refinery in January 2012 and continued operating solely as an oil storage terminal. HOVIC and its partner have also commenced a sales process for HOVENSA. The transformation plan also committed to the sale of mature E&P assets in Indonesia and Thailand and the pursuit of monetizing Bakken midstream assets by 2015. See also Note 2, Dispositions and Note 24, Subsequent Events in the notes to the Consolidated Financial Statements for a description of the divestitures completed to date under this transformation plan.

Principles of Consolidation and Basis of Presentation: The consolidated financial statements include the accounts of Hess Corporation and entities in which the Corporation owns more than a 50% voting interest or entities that the Corporation controls. The Corporation consolidates the trading partnership in which it owns a 50% voting interest and over which it exercises control. The Corporation’s undivided interests in unincorporated oil and gas exploration and production ventures are proportionately consolidated. Investments in affiliated companies, 20% to 50% owned and where the Corporation has the ability to influence the operating or financial decisions of the affiliate, are accounted for using the equity method.

The 2012 and 2011 financial information has been recast so that the basis of presentation is consistent with that of the 2013 financial information which reflects the results of operations and cash flows of the Corporation’s divested downstream businesses as discontinued operations for all periods presented (See Note 3, Discontinued Operations in the notes to the Consolidated Financial Statements). Certain other information in the financial statements and notes has been reclassified to conform to the current period presentation. In the preparation of these financial statements, the Corporation has evaluated subsequent events through the date of issuance.

Estimates and Assumptions: In preparing financial statements in conformity with U.S. generally accepted accounting principles (GAAP), management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the Consolidated Balance Sheet and revenues and expenses in the Statement of Consolidated Income. Actual results could differ from those estimates. Estimates made by management include oil and gas reserves, asset and other valuations, depreciable lives, pension liabilities, legal and environmental obligations, asset retirement obligations and income taxes.

Revenue Recognition: The Corporation recognizes revenues from the sale of crude oil, natural gas, refined petroleum products and other merchandise when title passes to the customer. Sales are reported net of excise and similar taxes in the Statement of Consolidated Income. The Corporation recognizes revenues from the production of natural gas properties based on sales to customers. Differences between E&P natural gas volumes sold and the Corporation’s share of natural gas production are not material.

In its E&P activities, the Corporation engages in crude oil purchase and sale transactions with the same counterparty that are entered into in contemplation of one another for the primary purpose of changing location or quality. Similarly, in its marketing activities, the Corporation enters into refined petroleum product purchase and sale transactions with the same counterparty. These arrangements are reported net in Sales and other operating revenues in the Statement of Consolidated Income.

Exploration and Development Costs: E&P activities are accounted for using the successful efforts method. Costs of acquiring unproved and proved oil and gas leasehold acreage, including lease bonuses, brokers’ fees and other related costs, are capitalized. Annual lease rentals, exploration expenses and exploratory dry hole costs are expensed as incurred. Costs of drilling and equipping productive wells, including development dry holes, and related production facilities are capitalized. In production operations, costs of injected CO₂ for tertiary recovery are expensed as incurred.

The costs of exploratory wells that find oil and gas reserves are capitalized pending determination of whether proved reserves have been found. Exploratory drilling costs remain capitalized after drilling is completed if (1) the well has found a sufficient quantity of reserves to justify completion as a producing well and (2) sufficient progress is being made in assessing the reserves and the economic and operational viability of the project. If either of those criteria is not met, or if there is substantial doubt about the economic or operational viability of a project, the capitalized well costs are charged to expense. Indicators of sufficient progress in assessing reserves and the economic and operating viability of a project include commitment of project personnel, active negotiations for sales contracts with customers, negotiations with governments, operators and contractors, firm plans for additional drilling and other factors.

Depreciation, Depletion and Amortization: The Corporation records depletion expense for acquisition costs of proved properties using the units of production method over proved oil and gas reserves. Depreciation and depletion expense for oil and gas production equipment and wells is calculated using the units of production method over proved developed oil and gas reserves. Provisions for impairment of undeveloped oil and gas leases are based on periodic evaluations and other factors. Depreciation of all other plant and equipment is determined on the straight-line method based on estimated useful lives. Retail gas stations and equipment related to leased properties, are depreciated over the estimated useful lives not to exceed the remaining lease period.

Capitalized Interest: Interest from external borrowings is capitalized on material projects using the weighted average cost of outstanding borrowings until the project is substantially complete and ready for its intended use, which for oil and gas assets is at first production from the field. Capitalized interest is depreciated over the useful lives of the assets in the same manner as the depreciation of the underlying assets.

Impairment of Long-lived Assets: The Corporation reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recovered. If the carrying amounts are not expected to be recovered by undiscounted future cash flows, the assets are impaired and an impairment loss is recorded. The amount of impairment is based on the estimated fair value of the assets generally determined by discounting anticipated future net cash flows, an income valuation approach, or by a market-based valuation approach, which are Level 3 fair value measurements. In the case of oil and gas fields, the net present value of future cash flows is based on management’s best estimate of future prices, which is determined with reference to recent historical prices and published forward prices, applied to projected production volumes and discounted at a risk-adjusted rate. The projected production volumes represent reserves, including probable reserves, expected to be produced based on a stipulated amount of capital expenditures. The production volumes, prices and timing of production are consistent with internal projections and other externally reported information. Oil and gas prices used for determining asset impairments will generally differ from the average prices used in the standardized measure of discounted future net cash flows.

Impairment of Equity Investees: The Corporation reviews equity method investments for impairment whenever events or changes in circumstances indicate that an other than temporary decline in value may have occurred. The fair value measurement used in the impairment assessment is based on quoted market prices, where available, or other valuation techniques, including discounted cash flows.

Impairment of Goodwill: The Corporation’s goodwill is assigned to the E&P operating segment. Goodwill is tested for impairment annually in the fourth quarter or when events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. This impairment test is performed at the reporting unit level, which accounting standards define as an operating segment or one level below an operating segment. Following a reorganization of its management structure in 2013, the Corporation determined its reporting units are its onshore and offshore businesses and tests for impairment by comparing the fair value of each reporting unit to its book value, including goodwill. If the fair value of a reporting unit exceeds the carrying amount, goodwill is not impaired. If the carrying value exceeds the fair value, the Corporation calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If the implied fair value of goodwill is less than the carrying amount, an impairment would be recorded.

Cash and Cash Equivalents: Cash equivalents consist of highly liquid investments, which are readily convertible into cash and have maturities of three months or less when acquired.

Inventories: Inventories are valued at the lower of cost or market. For refined petroleum product inventories valued at cost, the Corporation uses principally the last-in, first-out (LIFO) inventory method. For the remaining inventories, cost is generally determined using average actual costs.

Income Taxes: Deferred income taxes are determined using the liability method. The Corporation regularly assesses the realizability of deferred tax assets, based on estimates of future taxable income, the availability of tax planning strategies, the existence of appreciated assets, the available carryforward periods for net operating losses and other factors. If it is more likely than not that some or all of the deferred tax assets will not be realized, a valuation allowance is recorded to reduce the deferred tax assets to the amount expected to be realized. In addition, the Corporation recognizes the financial statement effect of a tax position only when management believes that it is more likely than not, that based on the technical merits, the position will be sustained upon examination. Additionally, the Corporation has income taxes which have been deferred on intercompany transactions eliminated in consolidation related to transfers of property, plant and equipment remaining within the consolidated group. The amortization of these income taxes deferred on intercompany transactions will occur ratably with the recovery through depletion and depreciation of the carrying value of these assets. The Corporation does not provide for deferred U.S. income taxes for that portion of undistributed earnings of foreign subsidiaries that are indefinitely reinvested in foreign operations. The Corporation classifies interest and penalties associated with uncertain tax positions as income tax expense.

Asset Retirement Obligations: The Corporation has material legal obligations to remove and dismantle long-lived assets and to restore land or seabed at certain exploration and production locations. The Corporation recognizes a liability for the fair value of legally required asset retirement obligations associated with long-lived assets in the period in which the retirement obligations are incurred. In addition, the fair value of any legally required conditional asset retirement obligations is recorded if the liability can be reasonably estimated. The Corporation capitalizes the associated asset retirement costs as part of the carrying amount of the long-lived assets.

Retirement Plans: The Corporation recognizes the funded status of defined benefit postretirement plans in the Consolidated Balance Sheet. The funded status is measured as the difference between the fair value of plan assets and the projected benefit obligation. The Corporation recognizes the net changes in the funded status of these plans in the year in which such changes occur. Prior service costs and actuarial gains and losses in excess of 10% of the greater of the benefit obligation or the market value of assets are amortized over the average remaining service period of active employees.

Derivatives: The Corporation utilizes derivative instruments for both risk management and trading activities. In risk management activities, the Corporation uses futures, forwards, options and swaps, individually or in combination, to mitigate its exposure to fluctuations in prices of crude oil, natural gas, refined petroleum products and electricity, as well as changes in interest and foreign currency exchange rates. The Corporation, through a consolidated partnership, trades energy-related commodities and derivatives, including futures, forwards, options and swaps based on expectations of future market conditions.

All derivative instruments are recorded at fair value in the Corporation’s Consolidated Balance Sheet. The Corporation’s policy for recognizing the changes in fair value of derivatives varies based on the designation of the derivative. The changes in fair value of derivatives that are not designated as hedges are recognized currently in earnings. Derivatives may be designated as hedges of expected future cash flows or forecasted transactions (cash flow hedges) or hedges of firm commitments (fair value hedges). The effective portion of changes in fair value of derivatives that are designated as cash flow hedges is recorded as a component of other comprehensive income (loss) while the ineffective portion of the changes in fair value is recorded currently in earnings. Amounts included in Accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in earnings. Changes in fair value of derivatives designated as fair value hedges are recognized currently in earnings. The change in fair value of the related hedged commitment is recorded as an adjustment to its carrying amount and recognized currently in earnings.

Fair Value Measurements: The Corporation uses various valuation approaches in determining fair value, including the market and income approaches. The Corporation’s fair value measurements also include non-performance risk and time value of money considerations. Counterparty credit is considered for receivable balances, and the Corporation’s credit is considered for accrued liabilities.

The Corporation also records certain nonfinancial assets and liabilities at fair value when required by GAAP. These fair value measurements are recorded in connection with business combinations, qualifying nonmonetary exchanges, the initial recognition of asset retirement obligations and any impairment of long-lived assets, equity method investments or goodwill.

The Corporation determines fair value in accordance with the fair value measurements accounting standard which established a hierarchy for the inputs used to measure fair value based on the source of the inputs, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3). Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2.

When Level 1 inputs are available within a particular market, those inputs are selected for determination of fair value over Level 2 or 3 inputs in the same market. To value derivatives that are characterized as Level 2 and 3, the Corporation uses observable inputs for similar instruments that are available from exchanges, pricing services or broker quotes. These observable inputs may be supplemented with other methods, including internal extrapolation or interpolation, that result in the most representative prices for instruments with similar characteristics. Multiple inputs may be used to measure fair value, however, the level of fair value for each physical derivative and financial asset or liability is based on the lowest significant input level within this fair value hierarchy.

Details on the methods and assumptions used to determine the fair values are as follows:

Fair value measurements based on Level 1 inputs: Measurements that are most observable are based on quoted prices of identical instruments obtained from the principal markets in which they are traded. Closing prices are both readily available and representative of fair value. Market transactions occur with sufficient frequency and volume to assure liquidity. The fair value of certain of the Corporation’s exchange traded futures and options are considered Level 1.

Fair value measurements based on Level 2 inputs: Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2. Measurements based on Level 2 inputs include over-the-counter derivative instruments that are priced on an exchange traded curve, but have contractual terms that are not identical to exchange traded contracts. The Corporation utilizes fair value measurements based on Level 2 inputs for certain forwards, swaps and options.

Fair value measurements based on Level 3 inputs: Measurements that are least observable are estimated from related market data, determined from sources with little or no market activity for comparable contracts or are positions with longer durations. For example, the Corporation entered into contracts to sell natural gas and electricity to customers and offsets the price exposure by purchasing forward contracts. The fair value of these sales and purchases may be based on specific prices at less liquid delivered locations, which are classified as Level 3. There may be offsets to these positions that are priced based on more liquid markets, which are, therefore, classified as Level 1 or Level 2. Fair values determined using discounted cash flows and other unobservable data are also classified as Level 3.

Share-based Compensation: The fair value of all share-based compensation is recognized as expense on a straight-line basis over the full vesting period of the awards. The Corporation estimates the fair value of employee stock options at the date of grant using a Black-Scholes valuation model, performance share units using a Monte Carlo simulation model, and restricted stock based on the market value of the underlying shares at the date of grant.

Foreign Currency Translation: The U.S. Dollar is the functional currency (primary currency in which business is conducted) for most foreign operations. Adjustments resulting from translating monetary assets and liabilities that are denominated in a non-functional currency into the functional currency are recorded in Other, net in the Statement of Consolidated Income. For operations that do not use the U.S. Dollar as the functional currency, adjustments resulting from translating foreign currency assets and liabilities into U.S. Dollars are recorded in a separate component of equity titled Accumulated other comprehensive income (loss).

Maintenance and Repairs: Maintenance and repairs are expensed as incurred. Capital improvements are recorded as additions in Property, plant and equipment.

Environmental Expenditures: The Corporation accrues and expenses environmental costs on an undiscounted basis to remediate existing conditions related to past operations when the future costs are probable and reasonably estimable. The Corporation capitalizes environmental expenditures that increase the life or efficiency of property or reduce or prevent future adverse impacts to the environment.

Changes in Accounting Policies: Effective January 1, 2013, the Corporation adopted ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (AOCI) which requires aggregated disclosures of amounts reclassified out of AOCI as well as a presentation of changes in AOCI balances by component. The changes in AOCI by component, including amounts reclassified out of AOCI in their entirety are presented in the Statement of Consolidated Comprehensive Income.

Effective January 1, 2013, the Corporation adopted ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities which requires disclosure of information needed to evaluate the effects or potential effects of the contractual right of setoff for assets and liabilities. This accounting standard update applies to assets and liabilities related to financial instruments and derivatives subject to an enforceable master netting arrangement or similar agreement. The required disclosures are presented in Note 23, Risk Management and Trading Activities.

Dispositions

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Dispositions

2.	Dispositions

Exploration and Production

2013: In December, the Corporation completed the sale of its interest in the Natuna A Field, offshore Indonesia for total cash proceeds of approximately $656 million. The transaction resulted in a pre-tax gain of $388 million ($343 million after income taxes), after deducting the net book value of assets including allocated goodwill of $39 million.

In April, the Corporation completed the sale of 100% of its Russian subsidiary, Samara-Nafta for cash proceeds of approximately $2.1 billion. Based on its 90% interest in Samara-Nafta, total after-tax proceeds to the Corporation were approximately $1.9 billion after working capital and other adjustments. The transaction resulted in a nontaxable gain of $1,119 million after deducting the net book value of assets, including allocated goodwill of $148 million. After reduction of the noncontrolling interest holder’s share of $168 million, which is reflected in Net income (loss) attributable to noncontrolling interests, the net gain attributable to the Corporation was $951 million.

In March, the Corporation sold its interests in the Azeri-Chirag-Guneshli (ACG) fields (Hess 3%), offshore Azerbaijan in the Caspian Sea, and the associated Baku-Tbilisi-Ceyhan (BTC) oil transportation pipeline company (Hess 2%) for cash proceeds of $884 million. The transaction resulted in a pre-tax gain of $360 million ($360 million after income taxes), after deducting the net book value of assets including allocated goodwill of $52 million.

In January, the Corporation completed the sale of its interests in the Beryl fields and the Scottish Area Gas Evacuation System (SAGE) in the UK North Sea for cash proceeds of $442 million. The transaction resulted in a pre-tax gain of $328 million, ($323 million after income taxes), after deducting the net book value of assets including allocated goodwill of $48 million.

2012: In October, the Corporation completed the sale of its interests in the Bittern Field (Hess 28%) in the UK North Sea and the associated Triton floating production, storage and offloading vessel for cash proceeds of $187 million. The transaction resulted in an after-tax gain of $172 million, after deducting the net book value of assets including allocated goodwill of $12 million.

In September, the Corporation completed the sale of its interests in the Schiehallion Field (Hess 16%) in the UK North Sea, its share of the associated floating production, storage and offloading vessel, and the West of Shetland pipeline system for cash proceeds of $524 million. The transaction resulted in a pre-tax gain of $376 million ($349 million after income taxes), after deducting the net book value of assets including allocated goodwill of $27 million.

In January, the Corporation completed the sale of its interest in the Snohvit Field (Hess 3%), a liquefied natural gas project, offshore Norway, for cash proceeds of $132 million. The transaction resulted in an after-tax gain of $36 million, after deducting the net book value of assets including allocated goodwill of $14 million.

2011: In February, the Corporation completed the sale of its interests in certain natural gas producing assets in the UK North Sea for cash proceeds of $359 million. These disposals resulted in pre-tax gains totaling $343 million ($310 million after income taxes). In August, the Corporation completed the sale of its interests in the Snorre Field (Hess 1%), offshore Norway and the Cook Field (Hess 28%) in the UK North Sea for cash proceeds of $131 million. These disposals resulted in after-tax gains totaling $103 million.

Discontinued Operations

2013: In December, the Corporation completed the sale of its U.S. East Coast terminal network, St. Lucia terminal and related businesses for cash proceeds of approximately $1.0 billion, which generated a pre-tax gain of $739 million ($531 million after income taxes), after deducting the net book value of assets. In November, the Corporation completed the sale of its energy marketing business for cash proceeds of approximately $1.2 billion, which generated a pre-tax gain of $761 million ($464 million after income taxes).

Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

3.	Discontinued Operations

As a result of the Corporation’s divestiture of its energy marketing business and terminals network and its cessation of refining at the Port Reading facility, the results of operations for these businesses have been reported as discontinued operations in the Statement of Consolidated Income for all periods presented. These businesses were previously included in the M&R segment.

Sales and other operating revenues and Income from discontinued operations were as follows:


	2013		2012		2011
	(In millions)
Sales and other operating revenues	$	12,273	$	14,386	$	17,132

Income from discontinued operations before income taxes	$	1,943	$	312	$	222
Current tax provision (benefit)		—		—		—
Deferred tax provision (benefit)		689		116		77

Provision for income taxes		689		116		77

Income from discontinued operations, net of income taxes*	$	1,254	$	196	$	145

*	In 2013, Income from discontinued operations included pre-tax gains on asset sales of $1,500 million ($995 million after income taxes).

The Corporation’s retail marketing business and energy trading joint venture have been classified as continuing operations for all periods presented as the Corporation is contemplating different methods of disposal and is experiencing lengthy marketing processes. There was no material impact to the results of operations as a result of these re-classifications for any period presented. The retail marketing business and energy trading joint venture will be classified as discontinued operations when these businesses are divested.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Exit and Disposal Costs

12 Months Ended

Dec. 31, 2013

Restructuring And Related Activities [Abstract]

Exit and Disposal Costs

4.	Exit and Disposal Costs

The following table provides the components of and changes in the Corporation’s restructuring accruals:


	Exploration and Production			Retail Marketing and Other			Corporate			Discontinued Operations			Total
	(In millions)
Employee Severance
Balance at January 1, 2013	$	—		$	—		$	—		$	—		$	—
Provision (a)		75			40			29			108			252	(b)
Payments		(43	)		—			(3	)		(35	)		(81	)

Balance at December 31, 2013		32			40			26			73			171


Facility and Other Exit Costs
Balance at January 1, 2013		—			—			—			—			—
Provision		62	(c)		28	(d)		17	(e)		113	(f)		220
Payments		(9	)		(24	)		—			(69	)		(102	)

Balance at December 31, 2013		53			4			17			44			118

Total restructuring accruals at December 31, 2013	$	85		$	44		$	43		$	117		$	289

(a)

Amounts are before the reversal of approximately $33 million of share-based compensation expense related to grants that are expected to be forfeited.

(b)

Of the total employee severance charges for 2013, $22 million was included in Operating costs and expenses, $19 million in Exploration expenses, $40 million in Marketing expenses, $63 million in General and administrative expenses and $108 million in Income from discontinued operations.

(c)

Included $37 million in General and administrative expenses, $16 million in Depreciation, depletion and amortization, $1 million in Operating costs and expenses and $8 million in Other, net.

(d)

Included in Marketing expenses.

(e)

Included in General and administrative expenses.

(f)

Included in Income from discontinued operations.

The employee severance charges primarily resulted from the Corporation’s divestiture program announced in March 2013, which was initiated to continue its transformation to a more focused pure play E&P company. The severance charges were based on probable amounts incurred under ongoing severance arrangements or other statutory requirements, plus amounts earned through December 31, 2013 under enhanced benefit arrangements. The expense associated with the enhanced benefits is recognized ratably over the estimated service period required for the employee to earn the benefit upon termination.

The Corporation expects to incur additional enhanced benefit charges of approximately $30 million beyond the amounts accrued at December 31, 2013, of which $5 million relates to E&P, $10 million to Retail Marketing and Other, $10 million to Corporate and $5 million to discontinued operations. The Corporation’s estimate of employee severance costs could change due to a number of factors, including the number of employees that work through the requisite service date and the timing of when each remaining divestiture occurs.

The facility and other exit costs relate to the shutdown of Port Reading refining operations, charges associated with the cessation of use of certain leased office space, contract termination costs and professional fees associated with the divestitures.

Acquisitions

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Acquisitions

5.	Acquisitions

In 2011, the Corporation entered into agreements to acquire approximately 85,000 net acres in the dry gas area of the Utica Shale play in Ohio for approximately $750 million, principally through the acquisition of Marquette Exploration, LLC (Marquette). The acquisition of Marquette was accounted for as a business combination and the assets acquired and the liabilities assumed were recorded at fair value. The fair value measurements of the oil and gas assets were based, in part, on significant inputs not observable in the market and thus represent a Level 3 measurement. The majority of the purchase price was assigned to unproved properties and the remainder to producing wells and working capital. See Note 24, Subsequent Events in the notes to the Consolidated Financial Statements for the divestiture of dry gas acreage.

Also in 2011, the Corporation completed the acquisition of a 50% undivided interest in CONSOL Energy Inc.’s (CONSOL) approximately 200,000 acres, in the Utica Shale play in Ohio, for $59 million in cash at closing and the agreement to fund 50% of CONSOL’s share of the drilling costs up to $534 million within a 5-year period. This transaction was accounted for as an asset acquisition. During the second quarter of 2013, the Corporation reached an agreement with CONSOL relating to its ongoing title verification efforts, which reduced the gross joint venture acreage by approximately 64,000 acres, to approximately 146,000 acres, and the total carry obligation to $335 million, from $534 million. At December 31, 2013, the Corporation’s remaining carry obligation was approximately $200 million.

Inventories

12 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Inventories

6.	Inventories

Inventories at December 31 were as follows:


	2013			2012
	(In millions)
Crude oil and other charge stocks	$	291		$	493
Refined petroleum products and natural gas		618			1,362
Less: LIFO adjustment		(339	)		(1,123	)

		570			732
Merchandise, materials and supplies		384			527

Total inventories	$	954		$	1,259

The percentage of last-in, first-out (LIFO) inventories to total crude oil, refined petroleum products and natural gas inventories was 43% and 71% at December 31, 2013 and 2012, respectively. During 2013 and 2012, the Corporation reduced LIFO inventories, which are carried at lower costs than current inventory costs, resulting in gains of $678 million ($414 million after income taxes) and $165 million ($104 million after income taxes), respectively, that were all classified in Income from discontinued operations. Inventories related to the E&P segment were $599 million at December 31, 2013 and $738 million at December 31, 2012.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

7.	Property, Plant and Equipment

Property, plant and equipment at December 31 were as follows:


	2013		2012
	(In millions)
Exploration and Production
Unproved properties	$	2,460	$	3,558
Proved properties		4,121		4,072
Wells, equipment and related facilities		37,274		35,385

		43,855		43,015
Retail Marketing, Corporate and Other		2,095		2,538

Total — at cost		45,950		45,553
Less: Reserves for depreciation, depletion, amortization and lease impairment		17,179		16,746

Property, plant and equipment — net	$	28,771	$	28,807

Assets Held for Sale: In March 2013, the Corporation approved a plan to divest its E&P assets in Thailand (comprising the Pailin (Hess 15%) and Sinphuhorm (Hess 35%) fields) and the Pangkah Field, offshore Indonesia (Hess 75%). At December 31, 2013, the book value of assets associated with these properties totaling $1,097 million, primarily consisting of the net property, plant and equipment balances as well as allocated goodwill of $76 million, were reported as assets held for sale. In addition, liabilities related to these properties totaling $286 million, primarily consisting of asset retirement obligations and deferred income taxes, were reported in liabilities associated with assets held for sale. At December 31, 2012, assets totaling $1,092 million, including allocated goodwill of $100 million, and liabilities totaling $539 million that were related to the ACG and Beryl fields, which were divested in the first quarter of 2013, were reported as held for sale. Properties classified as held for sale are not depreciated but are subject to impairment testing.

Capitalized Exploratory Wells Costs: The following table discloses the amount of capitalized exploratory well costs pending determination of proved reserves at December 31, and the changes therein during the respective years:


	2013			2012			2011
	(In millions)
Beginning balance at January 1	$	2,259		$	2,022		$	1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves		237			407			512
Reclassifications to wells, facilities and equipment based on the determination of proved reserves		(106	)		(41	)		(171	)
Capitalized exploratory well costs charged to expense		(267	)		(129	)		(90	)
Dispositions and other		(78	)		—			(12	)

Ending balance at December 31	$	2,045		$	2,259		$	2,022

Number of wells at end of year		50			68			59

In 2013, capitalized well costs reclassified based on the determination of proved reserves primarily related to the Shenzi project in the Gulf of Mexico. Capitalized exploratory well costs charged to expense in 2013 in the preceding table include $260 million to write-off previously capitalized exploration wells in Area 54, offshore Libya, due to civil unrest. The preceding table excludes exploratory dry hole costs of $77 million, $248 million and $348 million in 2013, 2012 and 2011, respectively, which were incurred and subsequently expensed in the same year.

At December 31, 2013, exploratory drilling costs capitalized in excess of one year past completion of drilling were incurred as follows (in millions):


2012	$	372
2011		385
2010		358
2009		159
2008 and prior		610

	$	1,884

The capitalized well costs in excess of one year relate to 8 projects. Approximately 45% relates to Block WA-390-P, offshore Western Australia, where development planning and commercial activities, including negotiations with potential liquefaction partners, are ongoing. Successful negotiation with a third party liquefaction partner is necessary before the Corporation can negotiate a gas sales agreement and sanction development of the project. Approximately 27% relates to the Corporation’s Pony discovery on Block 468 in the deepwater Gulf of Mexico, and 8% relates to the Pony #3 well on Block 469. The Corporation has signed an exchange agreement with the partners of the adjacent Green Canyon Blocks 512 and 511, which contain the Knotty Head discovery. Under this agreement, Hess was appointed operator and has a 20% working interest in the blocks, which are now collectively referred to as the Stampede project. An application to unitize Blocks 468, 512, the western half of 469 and the eastern half of 511 is due to be filed with the Bureau of Safety and Environmental Enforcement in the first quarter of 2014. Field development planning is progressing and the project is targeted for sanction in 2014. Approximately 16% relates to offshore Ghana where the Corporation has drilled seven successful exploration wells. Appraisal plans for the seven wells on the block were submitted to the Ghanaian government for approval in June 2013 and by year-end four had been approved. The Corporation plans to commence a three well appraisal drilling program in the second half of 2014. The remainder of the capitalized well costs in excess of one year relates to projects where further drilling is planned or development planning and other assessment activities are ongoing to determine the economic and operating viability of the projects.

Goodwill

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

8.	Goodwill

The changes in the carrying amount of goodwill, all of which relate to the E&P segment, are as follows:


	2013			2012
	(In millions)
Beginning balance at January 1	$	2,208		$	2,305
Dispositions*		(339	)		(97	)

Ending balance at December 31	$	1,869		$	2,208

*	Includes $76 million and $52 million reclassified to Assets held for sale in 2013 and 2012, respectively.

Asset Impairments

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Asset Impairments

9.	Asset Impairments

During the fourth quarter of 2013, the Corporation announced the sale of its E&P assets in Indonesia for approximately $1.3 billion. The sale was executed in two separate transactions, with Natuna A completing in December 2013 and Pangkah in January 2014, as a result of a partner exercising their preemptive rights. Based on the sales proceeds for each transaction, fourth quarter 2013 results included a pre-tax gain on asset sale related to Natuna A of $388 million ($343 million after income taxes), and a pre-tax asset impairment charge of $289 million ($187 million after income taxes) to adjust the carrying value of the Pangkah assets to their fair value at December 31, 2013.

During 2012, the Corporation recorded E&P asset impairment charges totaling $582 million ($344 million after income taxes). These impairment charges consisted of $374 million ($228 million after income taxes) associated with the divestiture of assets in the Eagle Ford Shale in Texas and $208 million ($116 million after income taxes) related to non-producing properties in the UK North Sea. During 2011, the Corporation recorded E&P asset impairment charges of $358 million ($140 million after income taxes) related to non-producing properties.

HOVENSA L.L.C. Joint Venture

12 Months Ended

Dec. 31, 2013

Equity Method Investments And Joint Ventures [Abstract]

HOVENSA L.L.C. Joint Venture

10.

HOVENSA L.L.C. Joint Venture

Hess Oil Virgin Islands Corp., a subsidiary of the Corporation, has a 50% interest in HOVENSA, a joint venture with a subsidiary of PDVSA, which owns a refinery in St. Croix, U.S. Virgin Islands. In January 2012, HOVENSA shut down its refinery and continued operating solely as an oil storage terminal. In 2013, HOVENSA and the Government of the Virgin Islands agreed to a plan to pursue a sale of HOVENSA and the sales process commenced in the fourth quarter. If an agreement to sell the refinery cannot be reached, HOVENSA will likely not be able to continue operating as an oil storage terminal.

In 2011 the Corporation recorded a total of $1,073 million of losses from its equity investment in HOVENSA, which included $875 million ($525 million after income taxes) related to an impairment recorded by HOVENSA and other charges associated with its decision to shut down the refinery. The Corporation’s share of the impairment related losses recorded by HOVENSA represented an amount equivalent to the Corporation’s financial support to HOVENSA at December 31, 2011, its planned future funding commitments for costs related to the refinery shutdown, and a charge of $135 million for the write-off of related assets held by the subsidiary which owns the Corporation’s investment in HOVENSA.

The Corporation’s investment in HOVENSA is accounted for using the equity method. In accordance with Rule 3-09 of Regulation S-X, the Corporation has filed financial statements for HOVENSA in this report on Form 10-K.

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2013

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

11.

Asset Retirement Obligations

The following table describes changes to the Corporation’s asset retirement obligations:


	2013			2012
	(In millions)
Asset retirement obligations at January 1	$	2,661		$	2,071
Liabilities incurred		42			186
Liabilities settled or disposed of		(576	)		(324	)
Accretion expense		129			135
Revisions of estimated liabilities		573			529
Foreign currency translation		(57	)		64

Asset retirement obligations at December 31		2,772			2,661
Less: Current obligations		523			449

Long-term obligations at December 31	$	2,249		$	2,212

The revisions in 2013 and 2012 reflect overall increases in estimated abandonment obligations resulting from changes in the expected scope of operations, increases in the time expected to complete dismantlement activities and updates to service rates.

Debt and Interest Expense

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Debt and Interest Expense

12.

Debt and Interest Expense

Long-term debt at December 31 consisted of the following:


	2013		2012
	(In millions)
Revolving credit facility, weighted average rate 1.6% in 2012	$	—	$	758
Asset-backed credit facility, weighted average rate 0.8% in 2012		—		600
Short-term credit facilities, weighted average rate 1.5% in 2012		—		990
Fixed-rate public notes:
7.0% due 2014		250		250
8.1% due 2019		998		998
7.9% due 2029		695		695
7.3% due 2031		747		746
7.1% due 2033		598		598
6.0% due 2040		745		745
5.6% due 2041		1,242		1,242

Total fixed-rate public notes		5,275		5,274
Leased floating production system		296		180
Other fixed-rate notes, weighted average rate 12.9%, due through 2023		135		111
Project lease financing, weighted average rate 5.1%, due through 2014		60		78
Fair value adjustments — interest rate hedging		30		65
Pollution control revenue bonds, weighted average rate 5.9% in 2012		—		53
Other debt		2		2

Total debt		5,798		8,111
Less: Short-term debt and current maturities of long-term debt		378		787

Total long-term debt	$	5,420	$	7,324

The Corporation has a $4 billion syndicated revolving credit facility that is unused at December 31, 2013 and matures in April 2016. This facility can be used for borrowings and letters of credit. Borrowings on the facility bear interest at 1.25% above the London Interbank Offered Rate. A fee of 0.25% per annum is also payable on the amount of the facility. The interest rate and facility fee are subject to adjustment if the Corporation’s credit rating changes. The Corporation also had a 364-day asset-backed credit facility which was terminated in September 2013.

During 2013, the Corporation repaid a net amount of $2,348 million under available credit facilities, which consisted of $758 million from its syndicated revolving credit facility, $990 million from the Corporation’s short-term credit facilities and $600 million from its asset-backed credit facility. The Corporation recorded capital lease obligations totaling $98 million in conjunction with its commitment to acquire 50 existing Hess retail gasoline stations that were previously held under operating leases. The Corporation repaid $136 million of other debt in 2013.

At December 31, 2013, the Corporation’s fixed-rate public notes have a principal amount of $5,300 million ($5,275 million net of unamortized discount). Interest rates on the outstanding fixed-rate public notes have a weighted average rate of 6.9%.

During 2013, the Corporation recorded a net increase of $116 million in debt related to progress on construction of a leased floating production system to be used at the Tubular Bells project.

The aggregate long-term debt maturing during the next five years is as follows (in millions): 2014 — $378; 2015 — $74; 2016 — $78; 2017 — $89 and 2018 — $58.

The Corporation’s long-term debt agreements, including the revolving credit facility, contain financial covenants that restrict the amount of total borrowings and secured debt. At December 31, 2013, the Corporation is permitted to borrow up to an additional $35.5 billion for the construction or acquisition of assets. The Corporation has the ability to borrow up to an additional $5.9 billion of secured debt at December 31, 2013.

Outstanding letters of credit at December 31 were as follows:


	2013		2012
	(In millions)
Committed lines*	$	274	$	463
Uncommitted lines*		136		283

Total	$	410	$	746

*	Committed and uncommitted lines have expiration dates through 2015.

Of the $410 million of letters of credit outstanding at December 31, 2013, $117 million relates to contingent liabilities and the remaining $293 million relates to liabilities recorded in the Consolidated Balance Sheet.

The total amount of interest paid (net of amounts capitalized) was $408 million, $419 million and $383 million in 2013, 2012 and 2011, respectively. The Corporation capitalized interest of $60 million, $28 million and $13 million in 2013, 2012 and 2011, respectively.

Share-based Compensation

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-based Compensation

13.

Share-based Compensation

The Corporation granted restricted common shares and performance share units (PSUs) in 2013 and 2012 under its 2008 Long-term Incentive Plan (LTIP), as amended. The Corporation began awarding PSUs under this plan in March 2012. Prior to 2012, the Corporation awarded restricted common stock and stock options. Outstanding restricted stock and PSUs generally vest three years from the date of grant. Outstanding stock options vest over three years from the date of grant and have a 10-year term and an exercise price equal to the market price on the date of grant.

The number of shares of common stock to be issued under the PSU agreement is based on a comparison of the Corporation’s total shareholder return (TSR) to the TSR of a predetermined group of fifteen peer companies over a three-year performance period ending December 31 of the year prior to grant issuance. Payouts of the performance share awards will range from 0% to 200% of the target awards based on the Corporation’s TSR ranking within the peer group. Dividend equivalents for the performance period will accrue on performance shares, but will only be paid out on earned shares after the performance period.

Share-based compensation expense consisted of the following:


	Before Income Taxes						After Income Taxes
	2013		2012		2011		2013		2012		2011
	(In millions)
Restricted stock	$	31	$	57	$	53	$	19	$	35	$	32
Stock options		13		34		51		8		21		31
Performance share units		10		8		—		6		5		—

Total*	$	54	$	99	$	104	$	33	$	61	$	63

*	Includes pre-tax share-based compensation expense (benefit) included in Income from discontinued operations of approximately $(6) million, $16 million and $18 million for 2013, 2012 and 2011, respectively.

During 2013, the Corporation reversed share-based compensation expenses totaling $33 million ($25 million for restricted stock, $7 million for PSUs and $1 million for stock options) for grants that are not expected to vest as a result of the Corporation’s transformation to a pure play E&P company.

Based on share-based compensation awards outstanding at December 31, 2013, unearned compensation expense, before income taxes, will be recognized in future years as follows (in millions): 2014 — $45, 2015 — $27 and 2016 — $4.

The Corporation’s share-based compensation activity consisted of the following:


	Performance Share Units					Stock Options					Restricted Stock
	Performance Share Units			Weighted- Average Fair Value on Date of Grant		Options			Weighted- Average Exercise Price per Share		Shares of Restricted Common Stock			Weighted- Average Price on Date of Grant
	(In thousands)					(In thousands)					(In thousands)
Outstanding at January 1, 2013		414		$	73.26		12,903		$	61.45		2,904		$	66.89
Granted		279			111.49		—			—		1,207			69.49
Exercised		—			—		(2,323	)		51.17		—			—
Vested		—			—		—			—		(812	)		60.52
Forfeited		(58	)		79.99		(439	)		78.41		(434	)		69.78

Outstanding at December 31, 2013*		635		$	89.45		10,141		$	63.08		2,865		$	69.36

*	Includes 9,570 thousand exercisable options at a weighted average price of $61.99 at December 31, 2013.

The table below summarizes information regarding the outstanding and exercisable stock options as of December 31, 2013:


	Outstanding Options					Exercisable Options
Range of Exercise Prices	Options		Weighted- Average Remaining Contractual Life	Weighted- Average Exercise Price per Share		Options		Weighted- Average Exercise Price per Share
Range of Exercise Prices	Options		Weighted- Average Remaining Contractual Life	Weighted- Average Exercise Price per Share		Options		Weighted- Average Exercise Price per Share
	(In thousands)		(Years)			(In thousands)
$20.00 – $40.00		629	1	$	28.16		629	$	28.16
$40.01 – $50.00		1,223	2		49.34		1,217		49.36
$50.01 – $60.00		3,064	4		54.98		3,031		54.98
$60.01 – $80.00		1,818	6		60.64		1,797		60.55
$80.01 – $120.00		3,407	5		83.04		2,896		82.89

		10,141	4	$	63.08		9,570	$	61.99

The intrinsic value (or the amount by which the market price of the Corporation’s common stock exceeds the exercise price of an option) at December 31, 2013 totaled $204 million and $203 million for outstanding options and exercisable options, respectively. At December 31, 2013, the weighted average remaining contractual term of exercisable options was four years.

The following weighted average assumptions were utilized to estimate the fair value of PSU awards:


	2013			2012
Risk free interest rate		0.36	%		0.40	%
Stock price volatility		.359			.394
Contractual term in years		3.0			3.0
Grant date price of Hess common stock	$	69.49		$	64.14

The risk free interest rate is based on the vesting period of the award and is obtained from published sources. The stock price volatility is determined from the historical stock prices of the peer group using the vesting period. The contractual term is equivalent to the vesting period.

In May 2008, shareholders approved the 2008 LTIP, which was amended in May 2010 and May 2012 to increase the number of new shares of common stock available for awards. At December 31, 2013, the Corporation had 10.2 million shares that remain available for issuance under the 2008 LTIP, as amended, out of the total of 29 million shares of common stock authorized for issuance under the 2008 LTIP, as amended.

Foreign Currency

12 Months Ended

Dec. 31, 2013

Foreign Currency [Abstract]

Foreign Currency

14.

Foreign Currency

Foreign currency gains (losses) before income taxes recorded in Other, net in the Statement of Consolidated Income amounted to a loss of $54 million in 2013, a gain of $37 million in 2012 and a loss of $29 million in 2011, all of which related to the Corporation’s continuing operations. The after-tax foreign currency translation adjustments included in Accumulated other comprehensive income (loss) totaled $(1) million at December 31, 2013 and $169 million at December 31, 2012.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References + Details

Retirement Plans

12 Months Ended

Dec. 31, 2013

Compensation And Retirement Disclosure [Abstract]

Retirement Plans

15.

Retirement Plans

The Corporation has funded noncontributory defined benefit pension plans for a significant portion of its employees. In addition, the Corporation has an unfunded supplemental pension plan covering certain employees, which provides incremental payments that would have been payable from the Corporation’s principal pension plans, were it not for limitations imposed by income tax regulations. The plans provide defined benefits based on years of service and final average salary. Additionally, the Corporation maintains an unfunded postretirement medical plan that provides health benefits to certain qualified retirees from ages 55 through 65. The measurement date for all retirement plans is December 31.

The following table summarizes the Corporation’s benefit obligations and the fair value of plan assets and shows the funded status of the pension and postretirement medical plans:


	Funded Pension Plans						Unfunded Pension Plan						Postretirement Medical Plan
	2013			2012			2013			2012			2013			2012
	(In millions)
Change in benefit obligation
Balance at January 1	$	2,110		$	1,866		$	234		$	227		$	134		$	125
Service cost		61			64			12			10			4			7
Interest cost		82			81			7			7			3			5
Actuarial (gain) loss		(139	)		134			28			13			(4	)		2
Benefit payments		(69	)		(54	)		(20	)		(2	)		(5	)		(5	)
Plan curtailments (a)		(103	)		—			(8	)		—			(35	)		—
Plan settlements (b)		—			—			—			(21	)		—			—
Special termination benefits		5			—			—			—			—			—
Foreign currency exchange rate changes		10			19			—			—			—			—

Balance at December 31		1,957			2,110			253			234			97			134


	Funded Pension Plans						Unfunded Pension Plan						Postretirement Medical Plan
	2013			2012			2013			2012			2013			2012
	(In millions)
Change in fair value of plan assets
Balance at January 1	$	1,763		$	1,493		$	—		$	—		$	—		$	—
Actual return on plan assets		292			155			—			—			—			—
Employer contributions		146			150			20			23			5			5
Benefit payments		(69	)		(54	)		(20	)		(2	)		(5	)		(5	)
Plan settlements (b)		—			—			—			(21	)		—			—
Foreign currency exchange rate changes		13			19			—			—			—			—

Balance at December 31		2,145			1,763			—			—			—			—

Funded status (plan assets greater (less) than benefit obligations) at December 31		188			(347	)		(253	)		(234	)		(97	)		(134	)
Unrecognized net actuarial (gains) losses		405			850			108			97			(2	)		39

Net amount recognized	$	593		$	503		$	(145	)	$	(137	)	$	(99	)	$	(95	)

(a)

During the first quarter of 2013, the Corporation’s pension and other postretirement plans were impacted by a significant reduction in the expected future service from active participants due to the Corporation’s announced asset sales program.

(b)

Plan settlements amounts reported include a charge of $9 million ($5 million after income taxes) due to employee retirements in 2012.

Amounts recognized in the Consolidated Balance Sheet at December 31 consisted of the following:


	Funded Pension Plans					Unfunded Pension Plan						Postretirement Medical Plan
	2013		2012			2013			2012			2013			2012
	(In millions)
Pension asset / (accrued benefit liability)	$	188	$	(347	)	$	(253	)	$	(234	)	$	(97	)	$	(134	)
Accumulated other comprehensive loss, pre-tax*		405		850			108			97			(2	)		39

Net amount recognized	$	593	$	503		$	(145	)	$	(137	)	$	(99	)	$	(95	)

*	The after-tax deficit reflected in Accumulated other comprehensive income (loss) for these retirement plans was $342 million at December 31, 2013 and $639 million at December 31, 2012.

The accumulated benefit obligation for the funded defined benefit pension plans decreased to $1,873 million at December 31, 2013 from $1,937 million at December 31, 2012. The accumulated benefit obligation for the unfunded defined benefit pension plan was $222 million at December 31, 2013 and $216 million at December 31, 2012.

Components of net periodic benefit cost for funded and unfunded pension plans and the postretirement medical plan consisted of the following:


	Pension Plans									Postretirement Medical Plan
	2013			2012			2011			2013		2012		2011
	(In millions)
Service cost	$	73		$	74		$	58		$	4	$	7	$	6
Interest cost		89			88			89			3		5		5
Expected return on plan assets		(141	)		(116	)		(109	)		—		—		—
Amortization of unrecognized net actuarial losses		61			83			47			1		2		2
Settlement loss		—			9			—			—		—		—
Curtailment loss		1			—			—			—		—		—
Special termination benefit recognized		5			—			—			—		—		—

Net periodic benefit cost	$	88		$	138		$	85		$	8	$	14	$	13

The Corporation’s 2014 pension and postretirement medical expense is estimated to be approximately $20 million, which includes approximately $28 million related to the amortization of unrecognized net actuarial losses, offset by improved returns on plan assets.

The weighted average actuarial assumptions used by the Corporation’s funded and unfunded pension plans were as follows:


	2013			2012			2011
Weighted average assumptions used to determine benefit obligations at December 31
Discount rate		4.6	%		3.8	%		4.3	%
Rate of compensation increase		4.4			4.3			4.3
Weighted average assumptions used to determine net benefit cost for the years ended December 31
Discount rate		4.0			4.3			5.3
Expected return on plan assets		7.5			7.5			7.5
Rate of compensation increase		4.3			4.3			4.4

The actuarial assumptions used by the Corporation’s postretirement medical plan were as follows:


	2013			2012			2011
Assumptions used to determine benefit obligations at December 31
Discount rate		3.6	%		3.1	%		3.9	%
Initial health care trend rate		7.1	%		7.3	%		8.0	%
Ultimate trend rate		4.6	%		4.8	%		5.0	%
Year in which ultimate trend rate is reached		2027			2022			2018

The assumptions used to determine net periodic benefit cost for each year were established at the end of each previous year while the assumptions used to determine benefit obligations were established at each year-end. The net periodic benefit cost and the actuarial present value of benefit obligations are based on actuarial assumptions that are reviewed on an annual basis. The discount rate is developed based on a portfolio of high-quality, fixed income debt instruments with maturities that approximate the expected payment of plan obligations. The overall expected return on plan assets is developed from the expected future returns for each asset category, weighted by the target allocation of pension assets to that asset category.

The Corporation’s investment strategy is to maximize long-term returns at an acceptable level of risk through broad diversification of plan assets in a variety of asset classes. Asset classes and target allocations are determined by the Corporation’s investment committee and include domestic and foreign equities, fixed income, and other investments, including hedge funds, real estate and private equity. Investment managers are prohibited from investing in securities issued by the Corporation unless indirectly held as part of an index strategy. The majority of plan assets are highly liquid, providing ample liquidity for benefit payment requirements. The current target allocations for plan assets are 50% equity securities, 25% fixed income securities (including cash and short-term investment funds) and 25% to all other types of investments. Asset allocations are rebalanced on a periodic basis throughout the year to bring assets to within an acceptable range of target levels.

The following tables provide the fair value of the financial assets of the funded pension plans as of December 31, 2013 and 2012 in accordance with the fair value measurement hierarchy described in Note 1, Summary of Significant Accounting Policies in the notes to the Consolidated Financial Statements:


	Level 1		Level 2		Level 3		Total
	(In millions)
December 31, 2013
Cash and short-term investment funds	$	3	$	72	$	—	$	75
Equities:
U.S. equities (domestic)		729		—		—		729
International equities (non-U.S.)		81		171		—		252
Global equities (domestic and non-U.S.)		8		208		—		216
Fixed income:
Treasury and government issued (a)		—		169		1		170
Government related (b)		—		9		—		9
Mortgage-backed securities (c)		—		109		1		110
Corporate		2		124		1		127
Other:
Hedge funds		—		—		291		291
Private equity funds		—		—		89		89
Real estate funds		10		—		47		57
Diversified commodities funds		—		20		—		20

	$	833	$	882	$	430	$	2,145

December 31, 2012
Cash and short-term investment funds	$	2	$	37	$	—	$	39
Equities:
U.S. equities (domestic)		534		—		—		534
International equities (non-U.S.)		61		148		—		209
Global equities (domestic and non-U.S.)		5		174		—		179
Fixed income:
Treasury and government issued (a)		—		184		2		186
Government related (b)		—		8		—		8
Mortgage-backed securities (c)		—		96		—		96
Corporate		1		110		—		111
Other:
Hedge funds		—		—		255		255
Private equity funds		—		—		75		75
Real estate funds		9		—		45		54
Diversified commodities funds		—		17		—		17

	$	612	$	774	$	377	$	1,763

(a)

Includes securities issued and guaranteed by U.S. and non-U.S. governments.

(b)

Primarily consists of securities issued by governmental agencies and municipalities.

(c)

Comprised of U.S. residential and commercial mortgage-backed securities.

Cash and short-term investment funds consist of cash on hand and short-term investment funds that provide for daily investments and redemptions and are valued and carried at a $1 net asset value (NAV) per fund share. Cash on hand is classified as Level 1 and short-term investment funds are classified as Level 2.

Equities consist of equity securities issued by U.S. and non-U.S. corporations as well as commingled investment funds that invest in equity securities. Individually held equity securities, which are traded actively on exchanges and have readily available price quotes, are classified as Level 1. Commingled fund values, which are valued at the NAV per fund share derived from the quoted prices in active markets of the underlying securities, are classified as Level 2.

Fixed income investments consist of securities issued by the U.S. government, non-U.S. governments, governmental agencies, municipalities and corporations, and agency and non-agency mortgage-backed securities. This investment category also includes commingled investment funds that invest in fixed income securities. Individual fixed income securities are generally priced on the basis of evaluated prices from independent pricing services, which are monitored and provided by the third-party custodial firm responsible for safekeeping plan assets. Individual fixed income securities are classified as Level 2 or 3. Fixed income commingled fund values, which reflect the NAV per fund share derived indirectly from observable inputs or from quoted prices in less liquid markets of the underlying securities, are classified as Level 2.

Other investments consist of exchange-traded real estate investment trust securities, as well as commingled fund and limited partnership investments in hedge funds, private equity, real estate and diversified commodities. Exchange-traded securities are classified as Level 1. Commingled fund values reflect the NAV per fund share and are classified as Level 2 or 3. Private equity and real estate limited partnership values reflect information reported by the fund managers, which include inputs such as cost, operating results, discounted future cash flows, market based comparable data and independent appraisals from third-party sources with professional qualifications. Hedge funds, private equity and non-exchange-traded real estate investments are classified as Level 3.

The following tables provide changes in financial assets that are measured at fair value based on Level 3 inputs that are held by institutional funds classified as:


	Fixed Income*			Hedge Funds		Private Equity Funds		Real Estate Funds		Total
	(In millions)
Balance at January 1, 2012	$	4		$	211	$	58	$	44	$	317
Actual return on plan assets held at December 31, 2012		—			13		5		1		19
Purchases, sales or other settlements		(1	)		31		12		—		42
Net transfers in (out) of Level 3		(1	)		—		—		—		(1	)

Balance at December 31, 2012		2			255		75		45		377

Actual return on plan assets held at December 31, 2013		—			26		11		2		39
Purchases, sales or other settlements		1			10		3		—		14
Net transfers in (out) of Level 3		—			—		—		—		—

Balance at December 31, 2013	$	3		$	291	$	89	$	47	$	430

*	Fixed Income includes treasury and government issued, government related, mortgage-backed and corporate securities.

The Corporation has budgeted contributions of approximately $80 million to its funded pension plans in 2014.

Estimated future benefit payments by the funded and unfunded pension plans and the postretirement medical plan, which reflect expected future service, are as follows (in millions):


2014	$	162
2015		106
2016		119
2017		110
2018		117
Years 2019 to 2023		649

The Corporation also contributes to several defined contribution plans for eligible employees. Employees may contribute a portion of their compensation to the plans and the Corporation matches a portion of the employee contributions. The Corporation recorded expense of $41 million in 2013, $40 million in 2012 and $28 million in 2011 for contributions to these plans.

16. Income Taxes

The provision (benefit) for income taxes from continuing operations consisted of:


	2013			2012			2011
	(In millions)
United States
Federal
Current	$	8		$	30		$	202
Deferred		67			(419	)		(653	)
State		4			34			6

		79			(355	)		(445	)

Foreign
Current		941			2,019			1,185
Deferred		187			(220	)		(60	)

		1,128			1,799			1,125

Total		1,207			1,444			680
Adjustment of deferred taxes for foreign income tax law changes*		(682	)		115			29

Total provision for income taxes	$	525		$	1,559		$	709

In 2013, amount reflects $674 million for the effect of the Denmark hydrocarbon income tax law change to the Chapter 3A regime from the Chapter 3 regime in December 2013 and $8 million for the effect of a change in Norway’s hydrocarbon and base corporate income tax rates in December 2013. In 2012, amount reflects the effect of the UK supplementary income tax rate change in July 2012. In 2011, amount reflects the July 2011 increase in the supplementary tax on petroleum operations in the UK.

Income from continuing operations before income taxes consisted of the following:


	2013		2012			2011
	(In millions)
United States (a)	$	473	$	(520	)	$	14
Foreign (b)		4,020		3,946			2,226

Total income from continuing operations before income taxes	$	4,493	$	3,426		$	2,240

(a)

Includes substantially all of the Corporation’s interest expense and the results of hedging activities.

(b)

Foreign income includes the Corporation’s Virgin Islands and other operations located outside of the U.S.

The components of deferred tax liabilities and deferred tax assets at December 31 were as follows:


	2013			2012
	(In millions)
Deferred tax liabilities
Property, plant and equipment	$	(5,581	)	$	(5,345	)
Other		(155	)		(105	)

Total deferred tax liabilities		(5,736	)		(5,450	)

Deferred tax assets
Net operating loss carryforwards		2,726			1,985
Tax credit carryforwards		161			373
Property, plant and equipment and investments		2,643			2,796
Accrued compensation, deferred credits and other liabilities		982			976
Asset retirement obligations		1,516			1,340
Other		216			313

Total deferred tax assets		8,244			7,783
Valuation allowances		(1,519	)		(1,282	)

Total deferred tax assets, net of valuation allowances		6,725			6,501

Net deferred tax assets	$	989		$	1,051

At December 31, 2013, the Corporation has recognized a gross deferred tax asset related to net operating loss carryforwards of $2,726 million before application of the valuation allowances. The deferred tax asset is comprised of $2,390 million attributable to foreign net operating losses which begin to expire in 2020, $71 million attributable to U.S. federal operating losses which begin to expire in 2020 and $265 million attributable to losses in various U.S. states which begin to expire in 2014. The deferred tax asset attributable to foreign net operating losses, net of valuation allowances, is $1,704 million, substantially all of which relates to loss carryforwards in Denmark, Norway and Malaysia. At December 31, 2013, the Corporation has federal, state and foreign alternative minimum tax credit carryforwards of $110 million which can be carried forward indefinitely, and approximately $1 million of other business credit carryforwards. Foreign tax credit carryforwards, which begin to expire in 2016, total $50 million.

In the Consolidated Balance Sheet, deferred tax assets and liabilities are netted by taxing jurisdiction and are recorded at December 31 as follows:


	2013			2012
	(In millions)
Other current assets	$	963		$	596
Deferred income taxes (long-term asset)		2,319			3,126
Accrued liabilities		(1	)		(9	)
Deferred income taxes (long-term liability)		(2,292	)		(2,662	)

Net deferred tax assets	$	989		$	1,051

A net deferred tax liability of $157 million, primarily relating to fixed asset basis differences and net operating losses of the Corporation’s subsidiaries in Thailand and Indonesia, is included in current liabilities associated with assets held for sale in the Consolidated Balance Sheet at December 31, 2013.

The difference between the Corporation’s effective income tax rate from continuing operations and the U.S. statutory rate is reconciled below:


	2013			2012			2011
U.S. statutory rate		35.0	%		35.0	%		35.0	%
Effect of foreign operations*		7.2			12.5			(4.1	)
State income taxes, net of Federal income tax		0.1			0.6			0.1
Change in enacted tax laws		(15.2	)		3.3			1.3
Gains on asset sales, net		(16.0	)		(5.3	)		(5.5	)
Effect of equity loss and operations related to HOVENSA L.L.C.		—			—			3.1
Other		0.6			(0.6	)		1.8

Total		11.7	%		45.5	%		31.7	%

*	The variance in effective income tax rates attributable to the effect of foreign operations primarily resulted from the suspension of operations in Libya for most of 2011 and part of 2013.

Below is a reconciliation of the beginning and ending amounts of unrecognized tax benefits:


	2013			2012
	(In millions)
Balance at January 1	$	523		$	415
Additions based on tax positions taken in the current year		161			132
Additions based on tax positions of prior years		2			45
Reductions based on tax positions of prior years		(96	)		(33	)
Reductions due to settlements with taxing authorities		(19	)		(30	)
Reductions due to lapses in statutes of limitation		(1	)		(6	)

Balance at December 31	$	570		$	523

The December 31, 2013 balance of unrecognized tax benefits includes $503 million that, if recognized, would impact the Corporation’s effective income tax rate. Over the next 12 months, it is reasonably possible that the total amount of unrecognized tax benefits could decrease by $15 million to $25 million due to settlements with taxing authorities or other resolutions, as well as lapses in statutes of limitation. The Corporation had accrued interest and penalties related to unrecognized tax benefits of $52 million and $60 million as of December 31, 2013 and 2012, respectively.

The Corporation has not recognized deferred income taxes on the portion of undistributed earnings of foreign subsidiaries expected to be indefinitely reinvested in foreign operations. The Corporation had undistributed earnings from foreign subsidiaries that it expects to be indefinitely reinvested in foreign operations of approximately $7.5 billion as of December 31, 2013. If these earnings were not indefinitely reinvested, a deferred tax liability of approximately $2.6 billion would be recognized, not accounting for the utilization of foreign tax credits in the U.S.

The Corporation and its subsidiaries file income tax returns in the U.S. and various foreign jurisdictions. The Corporation is no longer subject to examinations by income tax authorities in most jurisdictions for years prior to 2005.

Income taxes paid (net of refunds) in 2013, 2012 and 2011 amounted to $1,353 million, $1,822 million and $1,384 million, respectively.

17. Outstanding

and Weighted Average Common Shares

The following table provides the changes in the Corporation’s outstanding common shares:


	2013			2012		2011
	(In millions)
Balance at January 1		341.5			340.0		337.7
Activity related to restricted common stock awards, net		0.8			1.3		0.6
Stock options exercised		2.3			0.2		1.7
Shares repurchased*		(19.3	)		—		—

Balance at December 31		325.3			341.5		340.0

*	See Note 18, Share Repurchase Plan in the notes to the Consolidated Financial Statements.

The following table presents the calculation of basic and diluted earnings per share:


	2013		2012		2011
	(In millions)
Income from continuing operations, net of income taxes	$	3,968	$	1,867	$	1,531
Less: Net income (loss) attributable to noncontrolling interests		170		38		(27	)

Net income from continuing operations attributable to Hess Corporation		3,798		1,829		1,558
Income from discontinued operations, net of income taxes		1,254		196		145

Net income attributable to Hess Corporation	$	5,052	$	2,025	$	1,703

Weighted average common shares outstanding:
Basic		336.6		338.4		336.9
Effect of dilutive securities
Restricted common stock		1.4		1.1		1.4
Stock options		1.7		0.8		1.6
Performance share units		1.2		—		—

Diluted		340.9		340.3		339.9


	2013		2012		2011
Net income attributable to Hess Corporation per share:
Basic:
Continuing operations	$	11.28	$	5.40	$	4.62
Discontinued operations		3.73		0.58		0.43

Net income per share	$	15.01	$	5.98	$	5.05

Diluted:
Continuing operations	$	11.14	$	5.37	$	4.58
Discontinued operations		3.68		0.58		0.43

Net income per share	$	14.82	$	5.95	$	5.01

The weighted average common shares used in the diluted earnings per share calculations exclude the effect of approximately 4.4 million, 9.2 million and 3.5 million out-of-the-money stock options for 2013, 2012 and 2011, respectively. Based on the Corporation’s TSR, the diluted earnings per share calculations also exclude the effects of 414,175 PSUs for 2012. Cash dividends declared on common stock totaled $0.70 per share ($0.10 per share for the first two quarters and $0.25 per share commencing in the third quarter) during 2013. Cash dividends were $0.40 per share ($0.10 per quarter) for both 2012 and 2011.

Income Taxes

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

The provision (benefit) for income taxes from continuing operations consisted of:


	2013			2012			2011
	(In millions)
United States
Federal
Current	$	8		$	30		$	202
Deferred		67			(419	)		(653	)
State		4			34			6

		79			(355	)		(445	)

Foreign
Current		941			2,019			1,185
Deferred		187			(220	)		(60	)

		1,128			1,799			1,125

Total		1,207			1,444			680
Adjustment of deferred taxes for foreign income tax law changes*		(682	)		115			29

Total provision for income taxes	$	525		$	1,559		$	709

Income from continuing operations before income taxes consisted of the following:


	2013		2012			2011
	(In millions)
United States (a)	$	473	$	(520	)	$	14
Foreign (b)		4,020		3,946			2,226

Total income from continuing operations before income taxes	$	4,493	$	3,426		$	2,240

(a)

Includes substantially all of the Corporation’s interest expense and the results of hedging activities.

(b)

Foreign income includes the Corporation’s Virgin Islands and other operations located outside of the U.S.

The components of deferred tax liabilities and deferred tax assets at December 31 were as follows:


	2013			2012
	(In millions)
Deferred tax liabilities
Property, plant and equipment	$	(5,581	)	$	(5,345	)
Other		(155	)		(105	)

Total deferred tax liabilities		(5,736	)		(5,450	)

Deferred tax assets
Net operating loss carryforwards		2,726			1,985
Tax credit carryforwards		161			373
Property, plant and equipment and investments		2,643			2,796
Accrued compensation, deferred credits and other liabilities		982			976
Asset retirement obligations		1,516			1,340
Other		216			313

Total deferred tax assets		8,244			7,783
Valuation allowances		(1,519	)		(1,282	)

Total deferred tax assets, net of valuation allowances		6,725			6,501

Net deferred tax assets	$	989		$	1,051

In the Consolidated Balance Sheet, deferred tax assets and liabilities are netted by taxing jurisdiction and are recorded at December 31 as follows:


	2013			2012
	(In millions)
Other current assets	$	963		$	596
Deferred income taxes (long-term asset)		2,319			3,126
Accrued liabilities		(1	)		(9	)
Deferred income taxes (long-term liability)		(2,292	)		(2,662	)

Net deferred tax assets	$	989		$	1,051

The difference between the Corporation’s effective income tax rate from continuing operations and the U.S. statutory rate is reconciled below:


	2013			2012			2011
U.S. statutory rate		35.0	%		35.0	%		35.0	%
Effect of foreign operations*		7.2			12.5			(4.1	)
State income taxes, net of Federal income tax		0.1			0.6			0.1
Change in enacted tax laws		(15.2	)		3.3			1.3
Gains on asset sales, net		(16.0	)		(5.3	)		(5.5	)
Effect of equity loss and operations related to HOVENSA L.L.C.		—			—			3.1
Other		0.6			(0.6	)		1.8

Total		11.7	%		45.5	%		31.7	%

*	The variance in effective income tax rates attributable to the effect of foreign operations primarily resulted from the suspension of operations in Libya for most of 2011 and part of 2013.

Below is a reconciliation of the beginning and ending amounts of unrecognized tax benefits:


	2013			2012
	(In millions)
Balance at January 1	$	523		$	415
Additions based on tax positions taken in the current year		161			132
Additions based on tax positions of prior years		2			45
Reductions based on tax positions of prior years		(96	)		(33	)
Reductions due to settlements with taxing authorities		(19	)		(30	)
Reductions due to lapses in statutes of limitation		(1	)		(6	)

Balance at December 31	$	570		$	523

Income taxes paid (net of refunds) in 2013, 2012 and 2011 amounted to $1,353 million, $1,822 million and $1,384 million, respectively.

Outstanding and Weighted Average Common Shares

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Outstanding and Weighted Average Common Shares

17. Outstanding

and Weighted Average Common Shares

The following table provides the changes in the Corporation’s outstanding common shares:


	2013			2012		2011
	(In millions)
Balance at January 1		341.5			340.0		337.7
Activity related to restricted common stock awards, net		0.8			1.3		0.6
Stock options exercised		2.3			0.2		1.7
Shares repurchased*		(19.3	)		—		—

Balance at December 31		325.3			341.5		340.0

*	See Note 18, Share Repurchase Plan in the notes to the Consolidated Financial Statements.

The following table presents the calculation of basic and diluted earnings per share:


	2013		2012		2011
	(In millions)
Income from continuing operations, net of income taxes	$	3,968	$	1,867	$	1,531
Less: Net income (loss) attributable to noncontrolling interests		170		38		(27	)

Net income from continuing operations attributable to Hess Corporation		3,798		1,829		1,558
Income from discontinued operations, net of income taxes		1,254		196		145

Net income attributable to Hess Corporation	$	5,052	$	2,025	$	1,703

Weighted average common shares outstanding:
Basic		336.6		338.4		336.9
Effect of dilutive securities
Restricted common stock		1.4		1.1		1.4
Stock options		1.7		0.8		1.6
Performance share units		1.2		—		—

Diluted		340.9		340.3		339.9


	2013		2012		2011
Net income attributable to Hess Corporation per share:
Basic:
Continuing operations	$	11.28	$	5.40	$	4.62
Discontinued operations		3.73		0.58		0.43

Net income per share	$	15.01	$	5.98	$	5.05

Diluted:
Continuing operations	$	11.14	$	5.37	$	4.58
Discontinued operations		3.68		0.58		0.43

Net income per share	$	14.82	$	5.95	$	5.01

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6521494

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-Publisher SEC
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-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Share Repurchase Plan

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Share Repurchase Plan

18.

Share Repurchase Plan

In March 2013, the Corporation announced a board authorized plan to repurchase up to $4 billion of outstanding common stock using proceeds from its announced asset divestiture program. From August through December 31, 2013, the Corporation purchased approximately 19.3 million shares for a total cost of approximately $1.54 billion, which is an average cost of $79.65 per share including transaction fees. As of December 31, 2013, the Corporation may purchase up to approximately $2.46 billion of additional common stock under its board authorized plan. The weighted average of common shares outstanding used in the earnings per share calculations for 2013 do not reflect the full amount of the stock repurchases, due to the timing of the purchases.

Leased Assets

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Leased Assets

19.

Leased Assets

The Corporation and certain of its subsidiaries lease gasoline stations, drilling rigs, tankers, office space and other assets for varying periods under contractual obligations accounted for as operating leases. Certain operating leases provide an option to purchase the related property at fixed prices. At December 31, 2013, future minimum rental payments applicable to non-cancelable operating leases with remaining terms of one year or more (other than oil and gas property leases) are as follows (in millions):


2014	$	805
2015		530
2016		126
2017		122
2018		106
Remaining years		843

Total minimum lease payments		2,532
Less: Income from subleases		54

Net minimum lease payments	$	2,478

Operating lease expenses for drilling rigs used to drill development wells and successful exploration wells are capitalized.

Rental expense was as follows:


	2013		2012		2011
	(In millions)
Total rental expense	$	355	$	375	$	348
Less: Income from subleases		15		15		12

Net rental expense	$	340	$	360	$	336

Guarantees and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments And Contingencies Disclosure [Abstract]

Guarantees and Contingencies

20.

Guarantees and Contingencies

At December 31, 2013, the Corporation has $117 million in letters of credit for which it is contingently liable. The Corporation is subject to loss contingencies with respect to various lawsuits, claims and other proceedings, including environmental matters. A liability is recognized in the Corporation’s consolidated financial statements when it is probable a loss has been incurred and the amount can be reasonably estimated. If the risk of loss is probable, but the amount cannot be reasonably estimated or the risk of loss is only reasonably possible, a liability is not accrued; however, the Corporation discloses the nature of those contingencies.

The Corporation, along with many other companies engaged in refining and marketing of gasoline, has been a party to lawsuits and claims related to the use of methyl tertiary butyl ether (MTBE) in gasoline. A series of similar lawsuits, many involving water utilities or governmental entities, were filed in jurisdictions across the United States against producers of MTBE and petroleum refiners who produced gasoline containing MTBE, including the Corporation. The principal allegation in all cases was that gasoline containing MTBE is a defective product and that these parties are strictly liable in proportion to their share of the gasoline market for damage to groundwater resources and are required to take remedial action to ameliorate the alleged effects on the environment of releases of MTBE. In 2008, the majority of the cases against the Corporation were settled. In 2010 and 2011, additional cases were settled including an action brought in state court by the State of New Hampshire. Cases brought by the State of New Jersey and the Commonwealth of Puerto Rico remain unresolved. The Corporation has reserves recorded which it believes are adequate to cover its expected liability in these cases.

The Corporation is from time to time involved in other judicial and administrative proceedings, including proceedings relating to other environmental matters. The Corporation cannot predict with certainty if, how or when such proceedings will be resolved or what the eventual relief, if any, may be, particularly for proceedings that are in their early stages of development or where plaintiffs seek indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters before a loss or range of loss can be reasonably estimated for any proceeding. Subject to the foregoing, in management’s opinion, based upon currently known facts and circumstances, the outcome of such proceedings is not expected to have a material adverse effect on the financial condition, results of operations or cash flows of the Corporation.

Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

21.

Segment Information

The Corporation is transitioning to a pure play E&P company. In the first quarter of 2013, the Corporation announced plans to divest its downstream businesses, which were previously included in the M&R operating segment. Accordingly, the results of operations for the downstream businesses that were sold or ceased operations during 2013 have been classified as discontinued operations and are excluded from these segment disclosures for all periods presented. As a result, the Corporation currently has two operating segments, E&P and Retail Marketing and Other, which consists of the remaining downstream businesses that it plans to divest. This structure is used by the chief operating decision maker to allocate resources and assess operating performance.

The following table presents financial data by operating segment:


	Exploration and Production		Retail Marketing and Other			Corporate			Total
	(In millions)
2013
Operating revenues (a)	$	11,905	$	10,379		$	—		$	22,284

Net income (loss) from continuing operations attributable to Hess Corporation	$	4,303	$	(65	)	$	(440	)	$	3,798

Interest expense	$	—	$	—		$	406		$	406
Depreciation, depletion and amortization		2,671		84			15			2,770
Asset impairments		289		—			—			289
Provision (benefit) for income taxes		831		(39	)		(267	)		525
Investments in affiliates		109		578			—			687
Identifiable assets (b)		37,863		2,644			939			41,446
Capital employed (c)		27,850		1,597			1,939			31,386
Capital expenditures		5,709		73			58			5,840

2012
Operating revenues (a)	$	12,245	$	11,136		$	—		$	23,381

Net Income (loss) from continuing operations attributable to Hess Corporation	$	2,212	$	35		$	(418	)	$	1,829

Interest expense	$	—	$	—		$	419		$	419
Depreciation, depletion and amortization		2,853		56			13			2,922
Asset impairments		582		—			—			582
Provision (benefit) for income taxes		1,793		29			(263	)		1,559
Investments in affiliates		75		368			—			443
Identifiable assets (b)		37,687		2,066			615			40,368
Capital employed (c)		26,339		1,212			405			27,956
Capital expenditures		7,676		61			6			7,743

2011
Operating revenues (a)	$	10,646	$	10,805		$	—		$	21,451

Net income (loss) from continuing operations attributable to Hess Corporation	$	2,675	$	(729	)	$	(388	)	$	1,558

Loss from equity investment in HOVENSA L.L.C.	$	—	$	(1,073	)	$	—		$	(1,073	)
Interest expense		—		—			383			383
Depreciation, depletion and amortization		2,305		55			13			2,373
Asset impairments		358		—			—			358
Provision (benefit) for income taxes		1,313		(349	)		(255	)		709
Investments in affiliates		97		287			—			384
Identifiable assets (b)		32,323		2,960			511			35,794
Capital employed (c)		22,699		1,453			(387	)		23,765
Capital expenditures		6,888		50			3			6,941

(a)

Consists of Sales and other operating revenues that are reported net of excise and similar taxes in the Statement of Consolidated Income, which amounted to approximately $1,230 million, $1,530 million and $1,450 million in 2013, 2012 and 2011, respectively.

(b)

Excludes identifiable assets related to the discontinued operations.

(c)

E&P, Retail Marketing and Other and Corporate only. Calculated as equity plus debt.

The following table presents financial information by major geographic area:


	United States			Europe				Africa			Asia and Other			Total
	(In millions)
2013
Operating revenues		$	16,589		$	1,336			$	2,736		$	1,623		$	22,284
Property, plant and equipment (net) (b)			16,082			7,475	(a)			2,310			2,899			28,766
2012
Operating revenues		$	16,588		$	2,530			$	2,484		$	1,779		$	23,381
Property, plant and equipment (net) (b)			13,914			8,172	(a)			2,517			3,875			28,478
2011
Operating revenues		$	14,916		$	3,137			$	1,782		$	1,616		$	21,451
Property, plant and equipment (net) (b)			11,172			6,826	(a)			2,355			4,033			24,386

(a)

Of the total Europe Property, plant and equipment (net), Norway represented $6,348 million, $6,426 million and $5,031 million in 2013, 2012 and 2011, respectively.

(b)

Excludes Property, plant and equipment (net) related to the discontinued operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Related Party Transactions

12 Months Ended

Dec. 31, 2013

Related Party Transactions

22.

Related Party Transactions

The following table presents the Corporation’s related party transactions:


	2013			2012			2011
	(In millions)
Purchases:
HOVENSA (a)		$	—		$	145		$	3,806
Bayonne Energy Center LLC (b)			38			20			—
Sales:
WilcoHess			2,828			3,058			2,898
HOVENSA			90			191			710

(a)

The Corporation ceased purchasing refined products from HOVENSA following the closure of HOVENSA’s refinery in January 2012.

(b)

Represents purchases of electricity from this 50% owned joint venture under a tolling agreement.

The following table presents the Corporation’s related party accounts receivable (payable) at December 31:


	2013				2012
	(In millions)
WilcoHess		$	114			$	119
Bayonne Energy Center LLC			(4	)			(3	)

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Risk Management and Trading Activities

12 Months Ended

Dec. 31, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Risk Management and Trading Activities

23.

Risk Management and Trading Activities

In the normal course of its business, the Corporation is exposed to commodity risks related to changes in the prices of crude oil, natural gas, refined petroleum products and electricity, as well as changes in interest rates and foreign currency values. In the disclosures that follow, risk management activities are referred to as corporate and energy marketing risk management activities. The Corporation also has trading operations, through a 50% voting interest in a consolidated partnership, that trades energy-related commodities, securities and derivatives. These activities are also exposed to commodity price risks primarily related to the prices of crude oil, natural gas, refined petroleum products and electricity as well as foreign currency values. In March 2013, the Corporation announced plans to divest its downstream businesses, which included its energy marketing risk management and trading activities. In November, the Corporation completed the sale of its energy marketing business.

The Corporation maintains a control environment for all of its risk management and trading activities under the direction of its chief risk officer and through its corporate risk policy, which the Corporation’s senior management has approved. Controls include volumetric, term and value at risk limits. The chief risk officer must approve the trading of new instruments and commodities. Risk limits are monitored and reported on a daily basis to business units and senior management. The Corporation’s risk management department also performs independent price verifications (IPV’s) of sources of fair values and validations of valuation models. The Corporation’s treasury department is responsible for administering foreign exchange rate and interest rate hedging programs using similar controls and processes, where applicable.

The Corporation’s risk management department, in performing the IPV procedures, utilizes independent sources and valuation models that are specific to the individual contracts and pricing locations to identify positions that require adjustments to better reflect the market. This review is performed quarterly and the results are presented to the chief risk officer and senior management. The IPV process considers the reliability of the pricing services through assessing the number of available quotes, the frequency at which data is available and, where appropriate, the comparability between pricing sources.

Following is a description of the Corporation’s activities that use derivatives as part of their operations and strategies. Derivatives include both financial instruments and forward purchase and sale contracts. Gross notional amounts of both long and short positions are presented in the volume tables beginning below. These amounts include long and short positions that offset in closed positions and have not reached contractual maturity. Gross notional amounts do not quantify risk or represent assets or liabilities of the Corporation, but are used in the calculation of cash settlements under the contracts.

Corporate Risk Management Activities: Corporate risk management activities include transactions designed to reduce risk in the selling prices of crude oil or natural gas produced by the Corporation or to reduce exposure to foreign currency or interest rate movements. Generally, futures, swaps or option strategies may be used to fix the forward selling price of a portion of the Corporation’s crude oil or natural gas production. Forward contracts may also be used to purchase certain currencies in which the Corporation does business with the intent of reducing exposure to foreign currency fluctuations. These forward contracts comprise various currencies including the British Pound and Thai Baht. Interest rate swaps may be used to convert interest payments on certain long-term debt from fixed to floating rates.

The gross volumes of the Corporate risk management derivative contracts outstanding at December 31, were as follows:


	2013		2012
Commodity, primarily crude oil (millions of barrels)		9		1
Foreign exchange (millions of U.S. Dollars)	$	220	$	1,285
Interest rate swaps (millions of U.S. Dollars)	$	865	$	880

Crude oil price hedging contracts increased E&P Sales and other operating revenues by $39 million ($25 million after income taxes) in 2013, and reduced E&P Sales and other operating revenues by $688 million ($431 million after income taxes) in 2012 and $517 million ($327 million after income taxes) in 2011. At December 31, 2013, the after-tax deferred gains in Accumulated other comprehensive income (loss) related to Brent crude oil hedges were $5 million, which will be reclassified into earnings during 2014 as the hedged crude oil sales are recognized in earnings. The amount of ineffectiveness from Brent crude oil hedges that was recognized immediately in Sales and other operating revenues was immaterial in 2013, a loss of $9 million in 2012 and a gain of $9 million in 2011.

During 2013, the Corporation had Brent crude oil fixed-price swap contracts to hedge 90,000 barrels of oil per day (bopd) of crude oil sales volumes at an average price of approximately $109.70 per barrel. In October 2008, the Corporation closed Brent crude oil hedges covering 24,000 bopd through 2012 by entering into offsetting contracts with the same counterparty. The deferred after-tax losses, as of the date the hedge positions were closed, were recorded in earnings as the contracts matured. The Corporation also had Brent crude oil fixed-price swap contracts to hedge 120,000 bopd of crude oil sales volumes for the full year of 2012 at an average price of $107.70 per barrel. The Corporation has entered into Brent crude oil fixed price swap contracts to hedge 25,000 bopd for calendar year 2014 at an average price of $109.12 per barrel.

At December 31, 2013 and 2012, the Corporation had interest rate swaps with gross notional amounts of $865 million and $880 million, respectively, which were designated as fair value hedges. Changes in the fair value of interest rate swaps and the hedged fixed-rate debt are recorded in Interest expense in the Statement of Consolidated Income. For the years ended December 31, 2013 and 2012, the Corporation recorded a decrease of $35 million and an increase of $12 million (excluding accrued interest) respectively, in the fair value of interest rate swaps and a corresponding adjustment in the carrying value of the hedged fixed-rate debt.

Gains or losses on foreign exchange contracts that are not designated as hedges are recognized immediately in Other, net in Revenues and non-operating income in the Statement of Consolidated Income.

Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges amounted to the following:


	2013			2012		2011
	(In millions)
Commodity	$	—		$	1	$	1
Foreign exchange		(39	)		43		(15	)

Total	$	(39	)	$	44	$	(14	)

Energy Marketing Risk Management Activities: In November 2013, the Corporation completed the sale of its energy marketing business to Direct Energy, a North American subsidiary of Centrica plc (Centrica). Certain derivative contracts, including new transactions following the closing date, (the “delayed transfer derivative contracts”) have not been transferred to Direct Energy, as required customer or regulatory consents have not been obtained. However, the agreement entered into between Hess and Direct Energy on the closing date transfers all economic risks and rewards of the energy marketing business, including the ownership of the delayed transfer derivative contracts, to Direct Energy. As a result, the assets and liabilities related to the delayed transfer derivative contracts remain on the Corporation’s Consolidated Balance Sheet at December 31, 2013 but changes in their fair value are offset based on the terms of the agreement between Hess and Direct Energy. The Corporation therefore has no market risk related to these delayed transfer derivative contracts and only retains credit risk exposure, which has been guaranteed by Centrica. It is expected that the transfer of these contracts will be substantially complete in the first half of 2014.

The gross volumes of the Corporation’s energy marketing derivative contracts outstanding at December 31, including the delayed derivative transfer contracts were as follows:


	2013		2012
Crude oil and refined petroleum products (millions of barrels)		19		26
Natural gas (millions of mcf*)		3,325		2,938
Electricity (millions of megawatt hours)		258		278

*	One mcf represents one thousand cubic feet.

The changes in fair value of certain energy marketing commodity contracts that are not designated as hedges, as well as revenues from the sales contracts, supply contract purchases and net settlements from financial derivatives related to these energy marketing activities, are presented in Income from discontinued operations in the Statement of Consolidated Income. For contracts that were designated as hedges, the effective portion of changes in the fair value of cash flow hedges was recorded as a component of Accumulated other comprehensive income (loss) in the Consolidated Balance Sheet. Net realized and unrealized pre-tax gains on derivative contracts not designated as hedges amounted to $22 million in 2013, $127 million in 2012 and $65 million in 2011. After-tax deferred losses relating to energy marketing activities recorded in Accumulated other comprehensive income (loss) were $22 million at December 31, 2012, all of which were re-classified into Income from discontinued operations during the year. There were no after-tax deferred gains or losses relating to energy marketing activities recorded in Accumulated other comprehensive income (loss) at December 31, 2013.

Trading Activities: Trading activities are conducted through a trading partnership in which the Corporation has a 50% voting interest that is currently for sale. This partnership intends to generate earnings through various strategies primarily using energy-related commodities, securities and derivatives. The information that follows represents 100% of the trading partnership and, for 2012, the Corporation’s proprietary trading accounts.

The gross volumes of derivative contracts outstanding related to trading activities at December 31, were as follows:


	2013		2012
Commodity
Crude oil and refined petroleum products (millions of barrels)		1,815		1,179
Natural gas (millions of mcf)		2,735		3,377
Electricity (millions of megawatt hours)		1		19
Foreign exchange (millions of U.S. Dollars)	$	52	$	412
Other
Interest rate (millions of U.S. Dollars)	$	—	$	167
Equity securities (millions of shares)		11		14

Pre-tax unrealized and realized gains (losses) recorded in the Statement of Consolidated Income from trading activities amounted to the following:


	2013		2012		2011
	(In millions)
Commodity	$	78	$	104	$	44
Foreign exchange		—		3		—
Other		1		10		(28	)

Total*	$	79	$	117	$	16

*	The unrealized pre-tax gains and losses included in earnings were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

Fair Value Measurements: The Corporation generally enters into master netting arrangements to mitigate legal and counterparty credit risk. Master netting arrangements are generally accepted overarching master contracts that govern all individual transactions with the same counterparty entity as a single legally enforceable agreement. The U.S. Bankruptcy Code provides for the enforcement of certain termination and netting rights under certain types of contracts upon the bankruptcy filing of a counterparty, commonly known as the “safe harbor” provisions. If a master netting arrangement provides for termination and netting upon the counterparty’s bankruptcy, these rights are generally enforceable with respect to “safe harbor” transactions. If these arrangements provide the right of offset and the Corporation’s intent and practice is to offset amounts in the case of such a termination, the Corporation’s policy is to record the fair value of derivative assets and liabilities on a net basis.

In the normal course of business the Corporation relies on legal and credit risk mitigation clauses providing for adequate credit assurance as well as close-out netting, including two-party netting and single counterparty multilateral netting. As applied to the Corporation, “two-party netting” is the right to net amounts owing under safe harbor transactions between a single defaulting counterparty entity and a single Hess entity, and “single counterparty multilateral netting” is the right to net amounts owing under safe harbor transactions among a single defaulting counterparty entity and multiple Hess entities. The Corporation is reasonably assured that these netting rights would be upheld in a bankruptcy proceeding in the U.S. in which the defaulting counterparty is a debtor under the U.S. Bankruptcy Code.

The following table provides information about the effect of netting arrangements on the presentation of the Corporation’s physical and financial derivative assets and (liabilities) that are measured at fair value, with the effect of single counterparty multilateral netting being included in column (v):


	Gross Amounts			Gross Amounts Offset in the Consolidated Balance Sheet						Net Amounts Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet			Net Amounts
	Gross Amounts			Physical Derivative and Financial Instruments			Cash Collateral*			Net Amounts Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet			Net Amounts
	(i)			(ii)			(iii)			(iv)=(i)+(ii)+(iii)			(v)			(vi)=(iv)+(v)
	(In millions)
December 31, 2013
Assets
Derivative contracts
Commodity	$	3,086		$	(1,867	)	$	(79	)	$	1,140		$	(41	)	$	1,099
Interest rate and other		51			(10	)		—			41			(3	)		38
Counterparty netting		—			(206	)		—			(206	)		—			(206	)

Total derivative contracts	$	3,137		$	(2,083	)	$	(79	)	$	975		$	(44	)	$	931

Liabilities
Derivative contracts
Commodity	$	(3,212	)	$	1,867		$	168		$	(1,177	)	$	41		$	(1,136	)
Interest rate and other		(12	)		10			—			(2	)		3			1
Counterparty netting		—			206			—			206			—			206

Total derivative contracts	$	(3,224	)	$	2,083		$	168		$	(973	)	$	44		$	(929	)

December 31, 2012
Assets
Derivative contracts
Commodity	$	3,253		$	(2,661	)	$	(34	)	$	558		$	(45	)	$	513
Interest rate and other		100			(8	)		—			92			(6	)		86
Counterparty netting		—			(81	)		—			(81	)		—			(81	)

Total derivative contracts	$	3,353		$	(2,750	)	$	(34	)	$	569		$	(51	)	$	518

Liabilities
Derivative contracts
Commodity	$	(3,312	)	$	2,661		$	5		$	(646	)	$	45		$	(601	)
Other		(10	)		8			—			(2	)		6			4
Counterparty netting		—			81			—			81			—			81

Total derivative contracts	$	(3,322	)	$	2,750		$	5		$	(567	)	$	51		$	(516	)

*	There is no cash collateral that was not offset in the Consolidated Balance Sheet.

The net assets and liabilities that were offset in the Consolidated Balance Sheet as reflected in column (iv) of the table above were included in Accounts receivable — Trade and Accounts payable, respectively. Included in those amounts were the assets and liabilities related to the Corporation’s discontinued operations of $612 million and $620 million as of December 31, 2013, respectively ($378 million and $376 million as of December 31, 2012).

The table below reflects the gross and net fair values of the corporate and energy marketing risk management and trading derivative instruments:


	Accounts Receivable			Accounts Payable
	(In millions)
December 31, 2013
Derivative contracts designated as hedging instruments
Commodity	$	11		$	(3	)
Interest rate and other		36			(1	)

Total derivative contracts designated as hedging instruments		47			(4	)

Derivative contracts not designated as hedging instruments*
Commodity		3,075			(3,209	)
Foreign exchange		2			(3	)
Other		13			(8	)

Total derivative contracts not designated as hedging instruments		3,090			(3,220	)

Gross fair value of derivative contracts		3,137			(3,224	)
Master netting arrangements		(2,083	)		2,083
Cash collateral (received) posted		(79	)		168

Net fair value of derivative contracts	$	975		$	(973	)

December 31, 2012
Derivative contracts designated as hedging instruments
Commodity	$	65		$	(124	)
Interest rate and other		72			(2	)

Total derivative contracts designated as hedging instruments		137			(126	)

Derivative contracts not designated as hedging instruments*
Commodity		3,188			(3,188	)
Foreign exchange		14			—
Other		14			(8	)

Total derivative contracts not designated as hedging instruments		3,216			(3,196	)

Gross fair value of derivative contracts		3,353			(3,322	)
Master netting arrangements		(2,750	)		2,750
Cash collateral (received) posted		(34	)		5

Net fair value of derivative contracts	$	569		$	(567	)

*	Includes trading derivatives and derivatives used for risk management.

The Corporation determines fair value in accordance with the fair value measurements accounting standard (Accounting Standards Codification 820 – Fair Value Measurements and Disclosures), which established a hierarchy that categorizes the sources of inputs, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3). Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2.

When Level 1 inputs are available within a particular market, those inputs are selected for determination of fair value over Level 2 or 3 inputs in the same market. To value derivatives that are characterized as Level 2 and 3, the Corporation uses observable inputs for similar instruments that are available from exchanges, pricing services or broker quotes. These observable inputs may be supplemented with other methods, including internal extrapolation or interpolation, that result in the most representative prices for instruments with similar characteristics. Multiple inputs may be used to measure fair value, however, the level of fair value for each physical derivative and financial asset or liability presented below is based on the lowest significant input level within this fair value hierarchy.

The following table provides the Corporation’s net physical derivative and financial assets and (liabilities) that are measured at fair value based on this hierarchy:


	Level 1			Level 2			Level 3			Counterparty netting			Collateral			Balance
	(In millions)
December 31, 2013
Assets
Derivative contracts
Commodity	$	254		$	579		$	494		$	(108	)	$	(79	)	$	1,140
Interest rate and other		2			37			3			(1	)		—			41
Collateral and counterparty netting		(15	)		(191	)		—			—			—			(206	)

Total derivative contracts		241			425			497			(109	)		(79	)		975
Other assets measured at fair value on a recurring basis		—			—			—			—			—			—

Total assets measured at fair value on a recurring basis	$	241		$	425		$	497		$	(109	)	$	(79	)	$	975	(a)

Liabilities
Derivative contracts
Commodity	$	(97	)	$	(1,071	)	$	(285	)	$	108		$	168		$	(1,177	)
Other		—			(3	)		—			1			—			(2	)
Collateral and counterparty netting		15			191			—			—			—			206

Total derivative contracts		(82	)		(883	)		(285	)		109			168			(973	)
Other liabilities measured at fair value on a recurring basis		(31	)		—			—			—			—			(31	)

Total liabilities measured at fair value on a recurring basis	$	(113	)	$	(883	)	$	(285	)	$	109		$	168		$	(1,004	) (b)

Other fair value measurement disclosures
Long-term debt (c)	$	—		$	(6,641	)	$	—		$	—		$	—		$	(6,641	)

December 31, 2012
Assets
Derivative contracts
Commodity	$	94		$	445		$	243		$	(190	)	$	(34	)	$	558
Interest rate and other		6			86			1			(1	)		—			92
Collateral and counterparty netting		(23	)		(54	)		(4	)		—			—			(81	)

Total derivative contracts		77			477			240			(191	)		(34	)		569
Other assets measured at fair value on a recurring basis		5			49			—			(2	)		—			52

Total assets measured at fair value on a recurring basis	$	82		$	526		$	240		$	(193	)	$	(34	)	$	621

Liabilities
Derivative contracts
Commodity	$	(83	)	$	(657	)	$	(101	)	$	190		$	5		$	(646	)
Other		(1	)		(2	)		—			1			—			(2	)
Collateral and counterparty netting		23			54			4			—			—			81

Total derivative contracts		(61	)		(605	)		(97	)		191			5			(567	)
Other liabilities measured at fair value on a recurring basis		(40	)		(2	)		(2	)		2			—			(42	)

Total liabilities measured at fair value on a recurring basis	$	(101	)	$	(607	)	$	(99	)	$	193		$	5		$	(609	)

Other fair value measurement disclosures
Long-term debt (c)	$	—		$	(8,887	)	$	—		$	—		$	—		$	(8,887	)

(a)

Includes a total of $239 million of Level 1, $180 million of Level 2 and $51 million of Level 3 assets that relate to the Corporation’s continuing operations.

(b)

Includes a total of $79 million of Level 1, $447 million of Level 2 and $32 million of Level 3 liabilities that relate to the Corporation’s continuing operations.

(c)

Long-term debt, including current maturities, had a carrying value of $5,798 million and $7,361 million at December 31, 2013 and 2012, respectively.

In addition to the financial assets and (liabilities) disclosed in the tables above, the Corporation had other short-term financial instruments, primarily cash equivalents and accounts receivable and payable, for which the carrying value approximated their fair value at December 31, 2013 and 2012.

The following table provides total net transfers into and out of each level of the fair value hierarchy:


	2013			2012
	(In millions)
Transfers into Level 1	$	3		$	251
Transfers out of Level 1		76			210

	$	79		$	461

Transfers into Level 2	$	(113	)	$	(234	)
Transfers out of Level 2		88			(293	)

	$	(25	)	$	(527	)

Transfers into Level 3	$	(85	)	$	99
Transfers out of Level 3		31			(33	)

	$	(54	)	$	66

The Corporation’s policy is to recognize transfers in and transfers out as of the end of the reporting period. Transfers between levels result from the passage of time as contracts move closer to their maturities, fluctuations in the market liquidity for certain contracts and/or changes in the level of significance of fair value measurement inputs.

The following table provides changes in physical derivatives and financial assets and (liabilities) that are measured at fair value based on Level 3 inputs:


	2013			2012
	(In millions)
Balance at January 1	$	141		$	(143	)
Unrealized pre-tax gains (losses)
Included in earnings (a)		175			(78	)
Included in other comprehensive income (b)		—			44
Purchases (c)		45			247
Sales (c)		(34	)		(266	)
Settlements (d)		(61	)		271
Transfers into Level 3		(85	)		99
Transfers out of Level 3		31			(33	)

Balance at December 31	$	212		$	141

(a)

The unrealized pre-tax gains and losses included in earnings were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

(b)

The unrealized pre-tax gains (losses) included in the other comprehensive income (loss) are reflected in the Change in fair value of cash flow hedges in the Statement of Consolidated Comprehensive Income.

(c)

Purchases and sales primarily represent option premiums paid or received, respectively, during the reporting period and were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

(d)

Settlements represent realized gains (losses) on derivatives settled during the reporting period and were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

The significant unobservable inputs used in Level 3 fair value measurements for the Corporation’s physical commodity contracts and derivative instruments primarily include less liquid delivered locations for physical commodity contracts or volatility assumptions for out-of-the-money options. The following table provides information about the Corporation’s significant recurring unobservable inputs used in the Level 3 fair value measurements. Natural gas contracts are usually quoted and transacted using basis pricing relative to an active pricing location (e.g., Henry Hub), for which price inputs represent the approximate value of differences in geography and local market conditions. All other price inputs in the table beginning below represent full contract prices. Significant changes in any of the inputs, independently or correlated, may result in a different fair value.


	Unit of Measurement	Range / Weighted Average
December 31, 2013
Assets
Commodity contracts with a fair value of $494 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$78.45 - 228.86 / 118.68
Electricity	$ / MWH (b)	$19.52 - 165.75 / 45.76

Basis prices
Natural gas	$ / MMBTU (c)	$(4.99) - 18.10 / 0.23

Contract volatilities
Crude oil and refined petroleum products	%	16.00 - 18.00 / 17.00
Natural gas	%	17.00 - 35.00 / 22.00
Electricity	%	16.00 - 36.00 / 23.00

Liabilities
Commodity contracts with a fair value of $285 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$57.45 - 183.89 / 122.54
Electricity	$ / MWH (b)	$26.48 - 155.33 / 43.12

Basis prices
Natural gas	$ / MMBTU (c)	$(1.90) - 18.00 / (0.62)

Contract volatilities
Crude oil and refined petroleum products	%	16.00 - 17.00 / 17.00
Natural gas	%	34.00 - 35.00 / 35.00
Electricity	%	16.00 - 36.00 / 22.00


	Unit of Measurement	Range / Weighted Average
December 31, 2012
Assets
Commodity contracts with a fair value of $243 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$79.35 - 144.27 / 113.06
Electricity	$ / MWH (b)	$23.37 - 79.27 / 40.81

Basis prices
Natural gas	$ / MMBTU (c)	$(0.47) - 6.66 / 0.39

Contract volatilities
Crude oil and refined petroleum products	%	23.00 - 27.00 / 26.00
Natural gas	%	21.00 - 36.00 / 25.00
Electricity	%	18.00 - 40.00 / 28.00

Liabilities
Commodity contracts with a fair value of $101 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$83.49 - 133.38 / 109.94
Electricity	$ / MWH (b)	$25.01 - 72.60 / 40.38

Basis prices
Natural gas	$ / MMBTU (c)	$(0.72) - 6.66 / 1.26

Contract volatilities
Crude oil and refined petroleum products	%	24.00 - 27.00 / 26.00
Natural gas	%	21.00 - 28.00 / 22.00

(a)

Price per barrel.

(b)

Price per megawatt hour.

(c)

Price per million British thermal unit.

Note:

Fair value measurement for all recurring inputs was performed using a combination of income and market approach techniques.

Credit Risk: The Corporation is exposed to credit risks that may at times be concentrated with certain counterparties, groups of counterparties or customers. Accounts receivable are generated from a diverse domestic and international customer base. As of December 31, 2013, the Corporation’s net Accounts receivable — Trade related to continuing operations were concentrated with the following counterparty industry segments: Integrated Oil Companies — 45%, Refiners — 18%, Financial Institutions — 14%, Government Entities — 8% and Trading Companies — 7%. As of December 31, 2012, the Corporation’s net Accounts receivable — Trade, which included the receivables for the downstream businesses, were concentrated as follows: Integrated Oil Companies — 23%, Refiners — 15%, Government Entities — 11%, Real Estate — 8%, Services — 8% and Manufacturing — 6%. The Corporation reduces its risk related to certain counterparties by using master netting arrangements and requiring collateral, generally cash or letters of credit. The Corporation records the cash collateral received or posted as an offset to the fair value of derivatives executed with the same counterparty. At December 31, 2013 and December 31, 2012, the Corporation held cash from counterparties of $79 million and $34 million, respectively. The Corporation posted cash to counterparties at December 31, 2013 and December 31, 2012, of $168 million and $5 million, respectively.

The Corporation had outstanding letters of credit totaling $410 million and $746 million at December 31, 2013 and December 31, 2012, respectively, primarily issued to satisfy margin requirements (approximately $196 million and $357 million related to discontinued operations at December 31, 2013 and December 31, 2012, respectively). Certain of the Corporation’s agreements also contain contingent collateral provisions that could require the Corporation to post additional collateral if the Corporation’s credit rating declines. As of December 31, 2013 and 2012, the net liability related to both realized and unrealized derivative contracts with contingent collateral provisions was $281 million and approximately $435 million, respectively. As of December 31, 2013, the cash collateral posted on those derivatives was $31 million and there was no cash collateral posted as of December 31, 2012. At December 31, 2013 and 2012, all three major credit rating agencies that rate the Corporation’s debt had assigned an investment grade rating. If one of the three agencies were to downgrade the Corporation’s rating below investment grade, the Corporation would be required to post additional collateral of $134 million at December 31, 2013 and approximately $275 million at December 31, 2012.

Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

24.

Subsequent Events

In January 2014, the Corporation completed the sale of its interest in the Pangkah asset, offshore Indonesia for cash proceeds of approximately $650 million. In January, the Corporation also announced that it had reached agreement to sell approximately 74,000 acres of its dry gas position in the Utica Shale for $924 million. Approximately two-thirds of these proceeds are expected at the end of the first quarter of 2014, with the balance to be received in the third quarter of 2014.

In January 2014, the Corporation’s retail marketing business acquired its partner’s 56% interest in WilcoHess, a retail gasoline joint venture, for approximately $290 million and the settlement of liabilities.

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2013

Valuation And Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Schedule II

HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended December 31, 2013, 2012 and 2011


			Additions
Description	Balance January 1		Charged to Costs and Expenses		Charged to Other Accounts			Deductions from Reserves		Balance December 31
	(In millions)
2013
Losses on receivables	$	34	$	10	$	—		$	17	$	27

Deferred income tax valuation	$	1,282	$	383	$	(17	)	$	129	$	1,519

2012
Losses on receivables	$	55	$	—	$	—		$	21	$	34

Deferred income tax valuation	$	1,071	$	248	$	—		$	37	$	1,282

2011
Losses on receivables	$	58	$	4	$	1		$	8	$	55

Deferred income tax valuation	$	444	$	648	$	—		$	21	$	1,071

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2013
Accounting Policies [Abstract]
Nature of Business	*Nature of Business:* Hess Corporation with its subsidiaries (collectively referred to as the Corporation or Hess) is a global Exploration and Production (E&P) company that develops, produces, purchases, transports and sells crude oil and natural gas. Prior to 2013, the Corporation also operated a Marketing and Refining (M&R) segment, which it began to divest during the year. The M&R businesses manufacture refined petroleum products and purchase, market, store and trade refined products, natural gas and electricity, as well as operate retail gas stations, most of which have convenience stores. See also Note 21, Segment Information in the notes to the Consolidated Financial Statements for a description of the Corporation’s reportable segments at December 31, 2013. In the first quarter of 2013, the Corporation announced several initiatives to continue its transformation into a more focused pure play E&P company. The transformation plan included fully exiting the Corporation’s M&R businesses, including its terminal, retail, energy marketing and energy trading operations, as well as the permanent shutdown of refining operations at its Port Reading facility, thus completing its exit from all refining operations. HOVENSA L.L.C. (HOVENSA), a 50/50 joint venture between the Corporation’s subsidiary, Hess Oil Virgin Islands Corp (HOVIC), and a subsidiary of Petroleos de Venezuela S.A. (PDVSA) had previously shut down its United States (U.S.) Virgin Islands refinery in January 2012 and continued operating solely as an oil storage terminal. HOVIC and its partner have also commenced a sales process for HOVENSA. The transformation plan also committed to the sale of mature E&P assets in Indonesia and Thailand and the pursuit of monetizing Bakken midstream assets by 2015. See also Note 2, Dispositions and Note 24, Subsequent Events in the notes to the Consolidated Financial Statements for a description of the divestitures completed to date under this transformation plan.
Principles of Consolidation and Basis of Presentation	*Principles of Consolidation and Basis of Presentation:* The consolidated financial statements include the accounts of Hess Corporation and entities in which the Corporation owns more than a 50% voting interest or entities that the Corporation controls. The Corporation consolidates the trading partnership in which it owns a 50% voting interest and over which it exercises control. The Corporation’s undivided interests in unincorporated oil and gas exploration and production ventures are proportionately consolidated. Investments in affiliated companies, 20% to 50% owned and where the Corporation has the ability to influence the operating or financial decisions of the affiliate, are accounted for using the equity method. The 2012 and 2011 financial information has been recast so that the basis of presentation is consistent with that of the 2013 financial information which reflects the results of operations and cash flows of the Corporation’s divested downstream businesses as discontinued operations for all periods presented (See Note 3, Discontinued Operations in the notes to the Consolidated Financial Statements). Certain other information in the financial statements and notes has been reclassified to conform to the current period presentation. In the preparation of these financial statements, the Corporation has evaluated subsequent events through the date of issuance.
Estimates and Assumptions	*Estimates and Assumptions:* In preparing financial statements in conformity with U.S. generally accepted accounting principles (GAAP), management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the Consolidated Balance Sheet and revenues and expenses in the Statement of Consolidated Income. Actual results could differ from those estimates. Estimates made by management include oil and gas reserves, asset and other valuations, depreciable lives, pension liabilities, legal and environmental obligations, asset retirement obligations and income taxes.
Revenue Recognition	*Revenue Recognition:* The Corporation recognizes revenues from the sale of crude oil, natural gas, refined petroleum products and other merchandise when title passes to the customer. Sales are reported net of excise and similar taxes in the Statement of Consolidated Income. The Corporation recognizes revenues from the production of natural gas properties based on sales to customers. Differences between E&P natural gas volumes sold and the Corporation’s share of natural gas production are not material. In its E&P activities, the Corporation engages in crude oil purchase and sale transactions with the same counterparty that are entered into in contemplation of one another for the primary purpose of changing location or quality. Similarly, in its marketing activities, the Corporation enters into refined petroleum product purchase and sale transactions with the same counterparty. These arrangements are reported net in Sales and other operating revenues in the Statement of Consolidated Income.
Exploration and Development Costs	*Exploration and Development Costs:* E&P activities are accounted for using the successful efforts method. Costs of acquiring unproved and proved oil and gas leasehold acreage, including lease bonuses, brokers’ fees and other related costs, are capitalized. Annual lease rentals, exploration expenses and exploratory dry hole costs are expensed as incurred. Costs of drilling and equipping productive wells, including development dry holes, and related production facilities are capitalized. In production operations, costs of injected CO₂ for tertiary recovery are expensed as incurred. The costs of exploratory wells that find oil and gas reserves are capitalized pending determination of whether proved reserves have been found. Exploratory drilling costs remain capitalized after drilling is completed if (1) the well has found a sufficient quantity of reserves to justify completion as a producing well and (2) sufficient progress is being made in assessing the reserves and the economic and operational viability of the project. If either of those criteria is not met, or if there is substantial doubt about the economic or operational viability of a project, the capitalized well costs are charged to expense. Indicators of sufficient progress in assessing reserves and the economic and operating viability of a project include commitment of project personnel, active negotiations for sales contracts with customers, negotiations with governments, operators and contractors, firm plans for additional drilling and other factors.
Depreciation, Depletion and Amortization	*Depreciation, Depletion and Amortization:* The Corporation records depletion expense for acquisition costs of proved properties using the units of production method over proved oil and gas reserves. Depreciation and depletion expense for oil and gas production equipment and wells is calculated using the units of production method over proved developed oil and gas reserves. Provisions for impairment of undeveloped oil and gas leases are based on periodic evaluations and other factors. Depreciation of all other plant and equipment is determined on the straight-line method based on estimated useful lives. Retail gas stations and equipment related to leased properties, are depreciated over the estimated useful lives not to exceed the remaining lease period.
Capitalized Interest	*Capitalized Interest:* Interest from external borrowings is capitalized on material projects using the weighted average cost of outstanding borrowings until the project is substantially complete and ready for its intended use, which for oil and gas assets is at first production from the field. Capitalized interest is depreciated over the useful lives of the assets in the same manner as the depreciation of the underlying assets.
Impairment of Long-lived Assets	*Impairment of Long-lived Assets:* The Corporation reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recovered. If the carrying amounts are not expected to be recovered by undiscounted future cash flows, the assets are impaired and an impairment loss is recorded. The amount of impairment is based on the estimated fair value of the assets generally determined by discounting anticipated future net cash flows, an income valuation approach, or by a market-based valuation approach, which are Level 3 fair value measurements. In the case of oil and gas fields, the net present value of future cash flows is based on management’s best estimate of future prices, which is determined with reference to recent historical prices and published forward prices, applied to projected production volumes and discounted at a risk-adjusted rate. The projected production volumes represent reserves, including probable reserves, expected to be produced based on a stipulated amount of capital expenditures. The production volumes, prices and timing of production are consistent with internal projections and other externally reported information. Oil and gas prices used for determining asset impairments will generally differ from the average prices used in the standardized measure of discounted future net cash flows.
Impairment of Equity Investees	*Impairment of Equity Investees:* The Corporation reviews equity method investments for impairment whenever events or changes in circumstances indicate that an other than temporary decline in value may have occurred. The fair value measurement used in the impairment assessment is based on quoted market prices, where available, or other valuation techniques, including discounted cash flows.
Impairment of Goodwill	*Impairment of Goodwill:* The Corporation’s goodwill is assigned to the E&P operating segment. Goodwill is tested for impairment annually in the fourth quarter or when events or changes in circumstances indicate that the carrying amount of the goodwill may not be recoverable. This impairment test is performed at the reporting unit level, which accounting standards define as an operating segment or one level below an operating segment. Following a reorganization of its management structure in 2013, the Corporation determined its reporting units are its onshore and offshore businesses and tests for impairment by comparing the fair value of each reporting unit to its book value, including goodwill. If the fair value of a reporting unit exceeds the carrying amount, goodwill is not impaired. If the carrying value exceeds the fair value, the Corporation calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If the implied fair value of goodwill is less than the carrying amount, an impairment would be recorded.
Cash and Cash Equivalents	*Cash and Cash Equivalents:* Cash equivalents consist of highly liquid investments, which are readily convertible into cash and have maturities of three months or less when acquired.
Inventories	*Inventories:* Inventories are valued at the lower of cost or market. For refined petroleum product inventories valued at cost, the Corporation uses principally the last-in, first-out (LIFO) inventory method. For the remaining inventories, cost is generally determined using average actual costs.
Income Taxes	*Income Taxes:* Deferred income taxes are determined using the liability method. The Corporation regularly assesses the realizability of deferred tax assets, based on estimates of future taxable income, the availability of tax planning strategies, the existence of appreciated assets, the available carryforward periods for net operating losses and other factors. If it is more likely than not that some or all of the deferred tax assets will not be realized, a valuation allowance is recorded to reduce the deferred tax assets to the amount expected to be realized. In addition, the Corporation recognizes the financial statement effect of a tax position only when management believes that it is more likely than not, that based on the technical merits, the position will be sustained upon examination. Additionally, the Corporation has income taxes which have been deferred on intercompany transactions eliminated in consolidation related to transfers of property, plant and equipment remaining within the consolidated group. The amortization of these income taxes deferred on intercompany transactions will occur ratably with the recovery through depletion and depreciation of the carrying value of these assets. The Corporation does not provide for deferred U.S. income taxes for that portion of undistributed earnings of foreign subsidiaries that are indefinitely reinvested in foreign operations. The Corporation classifies interest and penalties associated with uncertain tax positions as income tax expense.
Asset Retirement Obligations	*Asset Retirement Obligations:* The Corporation has material legal obligations to remove and dismantle long-lived assets and to restore land or seabed at certain exploration and production locations. The Corporation recognizes a liability for the fair value of legally required asset retirement obligations associated with long-lived assets in the period in which the retirement obligations are incurred. In addition, the fair value of any legally required conditional asset retirement obligations is recorded if the liability can be reasonably estimated. The Corporation capitalizes the associated asset retirement costs as part of the carrying amount of the long-lived assets.
Retirement Plans	*Retirement Plans:* The Corporation recognizes the funded status of defined benefit postretirement plans in the Consolidated Balance Sheet. The funded status is measured as the difference between the fair value of plan assets and the projected benefit obligation. The Corporation recognizes the net changes in the funded status of these plans in the year in which such changes occur. Prior service costs and actuarial gains and losses in excess of 10% of the greater of the benefit obligation or the market value of assets are amortized over the average remaining service period of active employees.
Derivatives	*Derivatives:* The Corporation utilizes derivative instruments for both risk management and trading activities. In risk management activities, the Corporation uses futures, forwards, options and swaps, individually or in combination, to mitigate its exposure to fluctuations in prices of crude oil, natural gas, refined petroleum products and electricity, as well as changes in interest and foreign currency exchange rates. The Corporation, through a consolidated partnership, trades energy-related commodities and derivatives, including futures, forwards, options and swaps based on expectations of future market conditions. All derivative instruments are recorded at fair value in the Corporation’s Consolidated Balance Sheet. The Corporation’s policy for recognizing the changes in fair value of derivatives varies based on the designation of the derivative. The changes in fair value of derivatives that are not designated as hedges are recognized currently in earnings. Derivatives may be designated as hedges of expected future cash flows or forecasted transactions (cash flow hedges) or hedges of firm commitments (fair value hedges). The effective portion of changes in fair value of derivatives that are designated as cash flow hedges is recorded as a component of other comprehensive income (loss) while the ineffective portion of the changes in fair value is recorded currently in earnings. Amounts included in Accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in earnings. Changes in fair value of derivatives designated as fair value hedges are recognized currently in earnings. The change in fair value of the related hedged commitment is recorded as an adjustment to its carrying amount and recognized currently in earnings.
Fair Value Measurements	*Fair Value Measurements:* The Corporation uses various valuation approaches in determining fair value, including the market and income approaches. The Corporation’s fair value measurements also include non-performance risk and time value of money considerations. Counterparty credit is considered for receivable balances, and the Corporation’s credit is considered for accrued liabilities. The Corporation also records certain nonfinancial assets and liabilities at fair value when required by GAAP. These fair value measurements are recorded in connection with business combinations, qualifying nonmonetary exchanges, the initial recognition of asset retirement obligations and any impairment of long-lived assets, equity method investments or goodwill. The Corporation determines fair value in accordance with the fair value measurements accounting standard which established a hierarchy for the inputs used to measure fair value based on the source of the inputs, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3). Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2. When Level 1 inputs are available within a particular market, those inputs are selected for determination of fair value over Level 2 or 3 inputs in the same market. To value derivatives that are characterized as Level 2 and 3, the Corporation uses observable inputs for similar instruments that are available from exchanges, pricing services or broker quotes. These observable inputs may be supplemented with other methods, including internal extrapolation or interpolation, that result in the most representative prices for instruments with similar characteristics. Multiple inputs may be used to measure fair value, however, the level of fair value for each physical derivative and financial asset or liability is based on the lowest significant input level within this fair value hierarchy. Details on the methods and assumptions used to determine the fair values are as follows: *Fair value measurements based on Level 1 inputs:* Measurements that are most observable are based on quoted prices of identical instruments obtained from the principal markets in which they are traded. Closing prices are both readily available and representative of fair value. Market transactions occur with sufficient frequency and volume to assure liquidity. The fair value of certain of the Corporation’s exchange traded futures and options are considered Level 1. *Fair value measurements based on Level 2 inputs:* Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2. Measurements based on Level 2 inputs include over-the-counter derivative instruments that are priced on an exchange traded curve, but have contractual terms that are not identical to exchange traded contracts. The Corporation utilizes fair value measurements based on Level 2 inputs for certain forwards, swaps and options. *Fair value measurements based on Level 3 inputs:* Measurements that are least observable are estimated from related market data, determined from sources with little or no market activity for comparable contracts or are positions with longer durations. For example, the Corporation entered into contracts to sell natural gas and electricity to customers and offsets the price exposure by purchasing forward contracts. The fair value of these sales and purchases may be based on specific prices at less liquid delivered locations, which are classified as Level 3. There may be offsets to these positions that are priced based on more liquid markets, which are, therefore, classified as Level 1 or Level 2. Fair values determined using discounted cash flows and other unobservable data are also classified as Level 3.
Share-based Compensation	*Share-based Compensation:* The fair value of all share-based compensation is recognized as expense on a straight-line basis over the full vesting period of the awards. The Corporation estimates the fair value of employee stock options at the date of grant using a Black-Scholes valuation model, performance share units using a Monte Carlo simulation model, and restricted stock based on the market value of the underlying shares at the date of grant.
Foreign Currency Translation	*Foreign Currency Translation:* The U.S. Dollar is the functional currency (primary currency in which business is conducted) for most foreign operations. Adjustments resulting from translating monetary assets and liabilities that are denominated in a non-functional currency into the functional currency are recorded in Other, net in the Statement of Consolidated Income. For operations that do not use the U.S. Dollar as the functional currency, adjustments resulting from translating foreign currency assets and liabilities into U.S. Dollars are recorded in a separate component of equity titled Accumulated other comprehensive income (loss).
Maintenance and Repairs	*Maintenance and Repairs:* Maintenance and repairs are expensed as incurred. Capital improvements are recorded as additions in Property, plant and equipment.
Environmental Expenditures	*Environmental Expenditures:* The Corporation accrues and expenses environmental costs on an undiscounted basis to remediate existing conditions related to past operations when the future costs are probable and reasonably estimable. The Corporation capitalizes environmental expenditures that increase the life or efficiency of property or reduce or prevent future adverse impacts to the environment.
Amounts Reclassified Out of Accumulated Other Comprehensive Income	*Changes in Accounting Policies:* Effective January 1, 2013, the Corporation adopted ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (AOCI) which requires aggregated disclosures of amounts reclassified out of AOCI as well as a presentation of changes in AOCI balances by component. The changes in AOCI by component, including amounts reclassified out of AOCI in their entirety are presented in the Statement of Consolidated Comprehensive Income.
Disclosures about Offsetting Assets and Liabilities	Effective January 1, 2013, the Corporation adopted ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities which requires disclosure of information needed to evaluate the effects or potential effects of the contractual right of setoff for assets and liabilities. This accounting standard update applies to assets and liabilities related to financial instruments and derivatives subject to an enforceable master netting arrangement or similar agreement. The required disclosures are presented in Note 23, Risk Management and Trading Activities.

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Summary of Sales and Other Operating Revenues and Income from Discontinued Operations

Sales and other operating revenues and Income from discontinued operations were as follows:


	2013		2012		2011
	(In millions)
Sales and other operating revenues	$	12,273	$	14,386	$	17,132

Income from discontinued operations before income taxes	$	1,943	$	312	$	222
Current tax provision (benefit)		—		—		—
Deferred tax provision (benefit)		689		116		77

Provision for income taxes		689		116		77

Income from discontinued operations, net of income taxes*	$	1,254	$	196	$	145

*	In 2013, Income from discontinued operations included pre-tax gains on asset sales of $1,500 million ($995 million after income taxes).

Exit and Disposal Costs (Tables)

12 Months Ended

Dec. 31, 2013

Restructuring And Related Activities [Abstract]

Components of and Changes in Restructuring Accruals

The following table provides the components of and changes in the Corporation’s restructuring accruals:


	Exploration and Production			Retail Marketing and Other			Corporate			Discontinued Operations			Total
	(In millions)
Employee Severance
Balance at January 1, 2013	$	—		$	—		$	—		$	—		$	—
Provision (a)		75			40			29			108			252	(b)
Payments		(43	)		—			(3	)		(35	)		(81	)

Balance at December 31, 2013		32			40			26			73			171


Facility and Other Exit Costs
Balance at January 1, 2013		—			—			—			—			—
Provision		62	(c)		28	(d)		17	(e)		113	(f)		220
Payments		(9	)		(24	)		—			(69	)		(102	)

Balance at December 31, 2013		53			4			17			44			118

Total restructuring accruals at December 31, 2013	$	85		$	44		$	43		$	117		$	289

(a)

Amounts are before the reversal of approximately $33 million of share-based compensation expense related to grants that are expected to be forfeited.

(b)

(c)

Included $37 million in General and administrative expenses, $16 million in Depreciation, depletion and amortization, $1 million in Operating costs and expenses and $8 million in Other, net.

(d)

Included in Marketing expenses.

(e)

Included in General and administrative expenses.

(f)

Included in Income from discontinued operations.

Inventories (Tables)

12 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Inventories

Inventories at December 31 were as follows:


	2013			2012
	(In millions)
Crude oil and other charge stocks	$	291		$	493
Refined petroleum products and natural gas		618			1,362
Less: LIFO adjustment		(339	)		(1,123	)

		570			732
Merchandise, materials and supplies		384			527

Total inventories	$	954		$	1,259

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

Components of Property, Plant and Equipment

Property, plant and equipment at December 31 were as follows:


	2013		2012
	(In millions)
Exploration and Production
Unproved properties	$	2,460	$	3,558
Proved properties		4,121		4,072
Wells, equipment and related facilities		37,274		35,385

		43,855		43,015
Retail Marketing, Corporate and Other		2,095		2,538

Total — at cost		45,950		45,553
Less: Reserves for depreciation, depletion, amortization and lease impairment		17,179		16,746

Property, plant and equipment — net	$	28,771	$	28,807

Net Changes in Capitalized Exploratory Well Costs

Capitalized Exploratory Wells Costs: The following table discloses the amount of capitalized exploratory well costs pending determination of proved reserves at December 31, and the changes therein during the respective years:


	2013			2012			2011
	(In millions)
Beginning balance at January 1	$	2,259		$	2,022		$	1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves		237			407			512
Reclassifications to wells, facilities and equipment based on the determination of proved reserves		(106	)		(41	)		(171	)
Capitalized exploratory well costs charged to expense		(267	)		(129	)		(90	)
Dispositions and other		(78	)		—			(12	)

Ending balance at December 31	$	2,045		$	2,259		$	2,022

Number of wells at end of year		50			68			59

Exploratory Drilling Costs Capitalized

At December 31, 2013, exploratory drilling costs capitalized in excess of one year past completion of drilling were incurred as follows (in millions):


2012	$	372
2011		385
2010		358
2009		159
2008 and prior		610

	$	1,884

Goodwill (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill, all of which relate to the E&P segment, are as follows:


	2013			2012
	(In millions)
Beginning balance at January 1	$	2,208		$	2,305
Dispositions*		(339	)		(97	)

Ending balance at December 31	$	1,869		$	2,208

*	Includes $76 million and $52 million reclassified to Assets held for sale in 2013 and 2012, respectively.

Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2013

Asset Retirement Obligation Disclosure [Abstract]

Changes to Corporation's Asset Retirement Obligations

The following table describes changes to the Corporation’s asset retirement obligations:


	2013			2012
	(In millions)
Asset retirement obligations at January 1	$	2,661		$	2,071
Liabilities incurred		42			186
Liabilities settled or disposed of		(576	)		(324	)
Accretion expense		129			135
Revisions of estimated liabilities		573			529
Foreign currency translation		(57	)		64

Asset retirement obligations at December 31		2,772			2,661
Less: Current obligations		523			449

Long-term obligations at December 31	$	2,249		$	2,212

Debt and Interest Expense (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt at December 31 consisted of the following:


	2013		2012
	(In millions)
Revolving credit facility, weighted average rate 1.6% in 2012	$	—	$	758
Asset-backed credit facility, weighted average rate 0.8% in 2012		—		600
Short-term credit facilities, weighted average rate 1.5% in 2012		—		990
Fixed-rate public notes:
7.0% due 2014		250		250
8.1% due 2019		998		998
7.9% due 2029		695		695
7.3% due 2031		747		746
7.1% due 2033		598		598
6.0% due 2040		745		745
5.6% due 2041		1,242		1,242

Total fixed-rate public notes		5,275		5,274
Leased floating production system		296		180
Other fixed-rate notes, weighted average rate 12.9%, due through 2023		135		111
Project lease financing, weighted average rate 5.1%, due through 2014		60		78
Fair value adjustments — interest rate hedging		30		65
Pollution control revenue bonds, weighted average rate 5.9% in 2012		—		53
Other debt		2		2

Total debt		5,798		8,111
Less: Short-term debt and current maturities of long-term debt		378		787

Total long-term debt	$	5,420	$	7,324

Outstanding Letters of Credit

Outstanding letters of credit at December 31 were as follows:


	2013		2012
	(In millions)
Committed lines*	$	274	$	463
Uncommitted lines*		136		283

Total	$	410	$	746

*	Committed and uncommitted lines have expiration dates through 2015.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-based Compensation Expense

Share-based compensation expense consisted of the following:


	Before Income Taxes						After Income Taxes
	2013		2012		2011		2013		2012		2011
	(In millions)
Restricted stock	$	31	$	57	$	53	$	19	$	35	$	32
Stock options		13		34		51		8		21		31
Performance share units		10		8		—		6		5		—

Total*	$	54	$	99	$	104	$	33	$	61	$	63

*	Includes pre-tax share-based compensation expense (benefit) included in Income from discontinued operations of approximately $(6) million, $16 million and $18 million for 2013, 2012 and 2011, respectively.

Summary of Stock-based Compensation Activity

The Corporation’s share-based compensation activity consisted of the following:


	Performance Share Units					Stock Options					Restricted Stock
	Performance Share Units			Weighted- Average Fair Value on Date of Grant		Options			Weighted- Average Exercise Price per Share		Shares of Restricted Common Stock			Weighted- Average Price on Date of Grant
	(In thousands)					(In thousands)					(In thousands)
Outstanding at January 1, 2013		414		$	73.26		12,903		$	61.45		2,904		$	66.89
Granted		279			111.49		—			—		1,207			69.49
Exercised		—			—		(2,323	)		51.17		—			—
Vested		—			—		—			—		(812	)		60.52
Forfeited		(58	)		79.99		(439	)		78.41		(434	)		69.78

Outstanding at December 31, 2013*		635		$	89.45		10,141		$	63.08		2,865		$	69.36

*	Includes 9,570 thousand exercisable options at a weighted average price of $61.99 at December 31, 2013.

Summary of Information Regarding Outstanding and Exercisable Stock Options

The table below summarizes information regarding the outstanding and exercisable stock options as of December 31, 2013:


	Outstanding Options					Exercisable Options
Range of Exercise Prices	Options		Weighted- Average Remaining Contractual Life	Weighted- Average Exercise Price per Share		Options		Weighted- Average Exercise Price per Share
Range of Exercise Prices	Options		Weighted- Average Remaining Contractual Life	Weighted- Average Exercise Price per Share		Options		Weighted- Average Exercise Price per Share
	(In thousands)		(Years)			(In thousands)
$20.00 – $40.00		629	1	$	28.16		629	$	28.16
$40.01 – $50.00		1,223	2		49.34		1,217		49.36
$50.01 – $60.00		3,064	4		54.98		3,031		54.98
$60.01 – $80.00		1,818	6		60.64		1,797		60.55
$80.01 – $120.00		3,407	5		83.04		2,896		82.89

		10,141	4	$	63.08		9,570	$	61.99

Weighted Average Assumptions Utilized to Estimate Fair Value of PSU Awards

The following weighted average assumptions were utilized to estimate the fair value of PSU awards:


	2013			2012
Risk free interest rate		0.36	%		0.40	%
Stock price volatility		.359			.394
Contractual term in years		3.0			3.0
Grant date price of Hess common stock	$	69.49		$	64.14

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2013

Compensation And Retirement Disclosure [Abstract]

Funded Status of Pension and Postretirement Medical Plans

The following table summarizes the Corporation’s benefit obligations and the fair value of plan assets and shows the funded status of the pension and postretirement medical plans:


	Funded Pension Plans						Unfunded Pension Plan						Postretirement Medical Plan
	2013			2012			2013			2012			2013			2012
	(In millions)
Change in benefit obligation
Balance at January 1	$	2,110		$	1,866		$	234		$	227		$	134		$	125
Service cost		61			64			12			10			4			7
Interest cost		82			81			7			7			3			5
Actuarial (gain) loss		(139	)		134			28			13			(4	)		2
Benefit payments		(69	)		(54	)		(20	)		(2	)		(5	)		(5	)
Plan curtailments (a)		(103	)		—			(8	)		—			(35	)		—
Plan settlements (b)		—			—			—			(21	)		—			—
Special termination benefits		5			—			—			—			—			—
Foreign currency exchange rate changes		10			19			—			—			—			—

Balance at December 31		1,957			2,110			253			234			97			134


	Funded Pension Plans						Unfunded Pension Plan						Postretirement Medical Plan
	2013			2012			2013			2012			2013			2012
	(In millions)
Change in fair value of plan assets
Balance at January 1	$	1,763		$	1,493		$	—		$	—		$	—		$	—
Actual return on plan assets		292			155			—			—			—			—
Employer contributions		146			150			20			23			5			5
Benefit payments		(69	)		(54	)		(20	)		(2	)		(5	)		(5	)
Plan settlements (b)		—			—			—			(21	)		—			—
Foreign currency exchange rate changes		13			19			—			—			—			—

Balance at December 31		2,145			1,763			—			—			—			—

Funded status (plan assets greater (less) than benefit obligations) at December 31		188			(347	)		(253	)		(234	)		(97	)		(134	)
Unrecognized net actuarial (gains) losses		405			850			108			97			(2	)		39

Net amount recognized	$	593		$	503		$	(145	)	$	(137	)	$	(99	)	$	(95	)

(a)

(b)

Plan settlements amounts reported include a charge of $9 million ($5 million after income taxes) due to employee retirements in 2012.

Amounts Recognized in Consolidated Balance Sheet

Amounts recognized in the Consolidated Balance Sheet at December 31 consisted of the following:


	Funded Pension Plans					Unfunded Pension Plan						Postretirement Medical Plan
	2013		2012			2013			2012			2013			2012
	(In millions)
Pension asset / (accrued benefit liability)	$	188	$	(347	)	$	(253	)	$	(234	)	$	(97	)	$	(134	)
Accumulated other comprehensive loss, pre-tax*		405		850			108			97			(2	)		39

Net amount recognized	$	593	$	503		$	(145	)	$	(137	)	$	(99	)	$	(95	)

*	The after-tax deficit reflected in Accumulated other comprehensive income (loss) for these retirement plans was $342 million at December 31, 2013 and $639 million at December 31, 2012.

Components of Net Periodic Benefit Cost

Components of net periodic benefit cost for funded and unfunded pension plans and the postretirement medical plan consisted of the following:


	Pension Plans									Postretirement Medical Plan
	2013			2012			2011			2013		2012		2011
	(In millions)
Service cost	$	73		$	74		$	58		$	4	$	7	$	6
Interest cost		89			88			89			3		5		5
Expected return on plan assets		(141	)		(116	)		(109	)		—		—		—
Amortization of unrecognized net actuarial losses		61			83			47			1		2		2
Settlement loss		—			9			—			—		—		—
Curtailment loss		1			—			—			—		—		—
Special termination benefit recognized		5			—			—			—		—		—

Net periodic benefit cost	$	88		$	138		$	85		$	8	$	14	$	13

Weighted Average Actuarial Assumptions Used in Calculation of Pension Plans

The weighted average actuarial assumptions used by the Corporation’s funded and unfunded pension plans were as follows:


	2013			2012			2011
Weighted average assumptions used to determine benefit obligations at December 31
Discount rate		4.6	%		3.8	%		4.3	%
Rate of compensation increase		4.4			4.3			4.3
Weighted average assumptions used to determine net benefit cost for the years ended December 31
Discount rate		4.0			4.3			5.3
Expected return on plan assets		7.5			7.5			7.5
Rate of compensation increase		4.3			4.3			4.4

Actuarial Assumptions Used by Corporation's Postretirement Medical Plan

The actuarial assumptions used by the Corporation’s postretirement medical plan were as follows:


	2013			2012			2011
Assumptions used to determine benefit obligations at December 31
Discount rate		3.6	%		3.1	%		3.9	%
Initial health care trend rate		7.1	%		7.3	%		8.0	%
Ultimate trend rate		4.6	%		4.8	%		5.0	%
Year in which ultimate trend rate is reached		2027			2022			2018

Fair Value of Plan's Financial Assets


	Level 1		Level 2		Level 3		Total
	(In millions)
December 31, 2013
Cash and short-term investment funds	$	3	$	72	$	—	$	75
Equities:
U.S. equities (domestic)		729		—		—		729
International equities (non-U.S.)		81		171		—		252
Global equities (domestic and non-U.S.)		8		208		—		216
Fixed income:
Treasury and government issued (a)		—		169		1		170
Government related (b)		—		9		—		9
Mortgage-backed securities (c)		—		109		1		110
Corporate		2		124		1		127
Other:
Hedge funds		—		—		291		291
Private equity funds		—		—		89		89
Real estate funds		10		—		47		57
Diversified commodities funds		—		20		—		20

	$	833	$	882	$	430	$	2,145

December 31, 2012
Cash and short-term investment funds	$	2	$	37	$	—	$	39
Equities:
U.S. equities (domestic)		534		—		—		534
International equities (non-U.S.)		61		148		—		209
Global equities (domestic and non-U.S.)		5		174		—		179
Fixed income:
Treasury and government issued (a)		—		184		2		186
Government related (b)		—		8		—		8
Mortgage-backed securities (c)		—		96		—		96
Corporate		1		110		—		111
Other:
Hedge funds		—		—		255		255
Private equity funds		—		—		75		75
Real estate funds		9		—		45		54
Diversified commodities funds		—		17		—		17

	$	612	$	774	$	377	$	1,763

(a)

Includes securities issued and guaranteed by U.S. and non-U.S. governments.

(b)

Primarily consists of securities issued by governmental agencies and municipalities.

(c)

Comprised of U.S. residential and commercial mortgage-backed securities.

Fair Value Based on Level 3 Inputs Held by Institutional Funds

The following tables provide changes in financial assets that are measured at fair value based on Level 3 inputs that are held by institutional funds classified as:


	Fixed Income*			Hedge Funds		Private Equity Funds		Real Estate Funds		Total
	(In millions)
Balance at January 1, 2012	$	4		$	211	$	58	$	44	$	317
Actual return on plan assets held at December 31, 2012		—			13		5		1		19
Purchases, sales or other settlements		(1	)		31		12		—		42
Net transfers in (out) of Level 3		(1	)		—		—		—		(1	)

Balance at December 31, 2012		2			255		75		45		377

Actual return on plan assets held at December 31, 2013		—			26		11		2		39
Purchases, sales or other settlements		1			10		3		—		14
Net transfers in (out) of Level 3		—			—		—		—		—

Balance at December 31, 2013	$	3		$	291	$	89	$	47	$	430

*	Fixed Income includes treasury and government issued, government related, mortgage-backed and corporate securities.

Estimated Future Benefit Payments for Funded and Unfunded Pension Plans and Postretirement Medical Plan

Estimated future benefit payments by the funded and unfunded pension plans and the postretirement medical plan, which reflect expected future service, are as follows (in millions):


2014	$	162
2015		106
2016		119
2017		110
2018		117
Years 2019 to 2023		649

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes from Continuing Operations

The provision (benefit) for income taxes from continuing operations consisted of:


	2013			2012			2011
	(In millions)
United States
Federal
Current	$	8		$	30		$	202
Deferred		67			(419	)		(653	)
State		4			34			6

		79			(355	)		(445	)

Foreign
Current		941			2,019			1,185
Deferred		187			(220	)		(60	)

		1,128			1,799			1,125

Total		1,207			1,444			680
Adjustment of deferred taxes for foreign income tax law changes*		(682	)		115			29

Total provision for income taxes	$	525		$	1,559		$	709

Income From Continuing Operations Before Income Taxes

Income from continuing operations before income taxes consisted of the following:


	2013		2012			2011
	(In millions)
United States (a)	$	473	$	(520	)	$	14
Foreign (b)		4,020		3,946			2,226

Total income from continuing operations before income taxes	$	4,493	$	3,426		$	2,240

(a)

Includes substantially all of the Corporation’s interest expense and the results of hedging activities.

(b)

Foreign income includes the Corporation’s Virgin Islands and other operations located outside of the U.S.

Components of Deferred Tax Liabilities and Deferred Tax Assets

The components of deferred tax liabilities and deferred tax assets at December 31 were as follows:


	2013			2012
	(In millions)
Deferred tax liabilities
Property, plant and equipment	$	(5,581	)	$	(5,345	)
Other		(155	)		(105	)

Total deferred tax liabilities		(5,736	)		(5,450	)

Deferred tax assets
Net operating loss carryforwards		2,726			1,985
Tax credit carryforwards		161			373
Property, plant and equipment and investments		2,643			2,796
Accrued compensation, deferred credits and other liabilities		982			976
Asset retirement obligations		1,516			1,340
Other		216			313

Total deferred tax assets		8,244			7,783
Valuation allowances		(1,519	)		(1,282	)

Total deferred tax assets, net of valuation allowances		6,725			6,501

Net deferred tax assets	$	989		$	1,051

Deferred Tax Assets and Liabilities, Net

In the Consolidated Balance Sheet, deferred tax assets and liabilities are netted by taxing jurisdiction and are recorded at December 31 as follows:


	2013			2012
	(In millions)
Other current assets	$	963		$	596
Deferred income taxes (long-term asset)		2,319			3,126
Accrued liabilities		(1	)		(9	)
Deferred income taxes (long-term liability)		(2,292	)		(2,662	)

Net deferred tax assets	$	989		$	1,051

Difference Between Corporation's Effective Income Tax Rate from Continuing Operations and U.S. Statutory Rate

The difference between the Corporation’s effective income tax rate from continuing operations and the U.S. statutory rate is reconciled below:


	2013			2012			2011
U.S. statutory rate		35.0	%		35.0	%		35.0	%
Effect of foreign operations*		7.2			12.5			(4.1	)
State income taxes, net of Federal income tax		0.1			0.6			0.1
Change in enacted tax laws		(15.2	)		3.3			1.3
Gains on asset sales, net		(16.0	)		(5.3	)		(5.5	)
Effect of equity loss and operations related to HOVENSA L.L.C.		—			—			3.1
Other		0.6			(0.6	)		1.8

Total		11.7	%		45.5	%		31.7	%

*	The variance in effective income tax rates attributable to the effect of foreign operations primarily resulted from the suspension of operations in Libya for most of 2011 and part of 2013.

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

Below is a reconciliation of the beginning and ending amounts of unrecognized tax benefits:


	2013			2012
	(In millions)
Balance at January 1	$	523		$	415
Additions based on tax positions taken in the current year		161			132
Additions based on tax positions of prior years		2			45
Reductions based on tax positions of prior years		(96	)		(33	)
Reductions due to settlements with taxing authorities		(19	)		(30	)
Reductions due to lapses in statutes of limitation		(1	)		(6	)

Balance at December 31	$	570		$	523

Outstanding and Weighted Average Common Shares (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Changes in Corporation's Outstanding Common Shares

The following table provides the changes in the Corporation’s outstanding common shares:


	2013			2012		2011
	(In millions)
Balance at January 1		341.5			340.0		337.7
Activity related to restricted common stock awards, net		0.8			1.3		0.6
Stock options exercised		2.3			0.2		1.7
Shares repurchased*		(19.3	)		—		—

Balance at December 31		325.3			341.5		340.0

*	See Note 18, Share Repurchase Plan in the notes to the Consolidated Financial Statements.

Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted earnings per share:


	2013		2012		2011
	(In millions)
Income from continuing operations, net of income taxes	$	3,968	$	1,867	$	1,531
Less: Net income (loss) attributable to noncontrolling interests		170		38		(27	)

Net income from continuing operations attributable to Hess Corporation		3,798		1,829		1,558
Income from discontinued operations, net of income taxes		1,254		196		145

Net income attributable to Hess Corporation	$	5,052	$	2,025	$	1,703

Weighted average common shares outstanding:
Basic		336.6		338.4		336.9
Effect of dilutive securities
Restricted common stock		1.4		1.1		1.4
Stock options		1.7		0.8		1.6
Performance share units		1.2		—		—

Diluted		340.9		340.3		339.9


	2013		2012		2011
Net income attributable to Hess Corporation per share:
Basic:
Continuing operations	$	11.28	$	5.40	$	4.62
Discontinued operations		3.73		0.58		0.43

Net income per share	$	15.01	$	5.98	$	5.05

Diluted:
Continuing operations	$	11.14	$	5.37	$	4.58
Discontinued operations		3.68		0.58		0.43

Net income per share	$	14.82	$	5.95	$	5.01

Leased Assets (Tables)

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Future Minimum Rental Payments

At December 31, 2013, future minimum rental payments applicable to non-cancelable operating leases with remaining terms of one year or more (other than oil and gas property leases) are as follows (in millions):


2014	$	805
2015		530
2016		126
2017		122
2018		106
Remaining years		843

Total minimum lease payments		2,532
Less: Income from subleases		54

Net minimum lease payments	$	2,478

Rental Expense

Rental expense was as follows:


	2013		2012		2011
	(In millions)
Total rental expense	$	355	$	375	$	348
Less: Income from subleases		15		15		12

Net rental expense	$	340	$	360	$	336

Segment Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Financial Data by Operating Segment

The following table presents financial data by operating segment:


	Exploration and Production		Retail Marketing and Other			Corporate			Total
	(In millions)
2013
Operating revenues (a)	$	11,905	$	10,379		$	—		$	22,284

Net income (loss) from continuing operations attributable to Hess Corporation	$	4,303	$	(65	)	$	(440	)	$	3,798

Interest expense	$	—	$	—		$	406		$	406
Depreciation, depletion and amortization		2,671		84			15			2,770
Asset impairments		289		—			—			289
Provision (benefit) for income taxes		831		(39	)		(267	)		525
Investments in affiliates		109		578			—			687
Identifiable assets (b)		37,863		2,644			939			41,446
Capital employed (c)		27,850		1,597			1,939			31,386
Capital expenditures		5,709		73			58			5,840

2012
Operating revenues (a)	$	12,245	$	11,136		$	—		$	23,381

Net Income (loss) from continuing operations attributable to Hess Corporation	$	2,212	$	35		$	(418	)	$	1,829

Interest expense	$	—	$	—		$	419		$	419
Depreciation, depletion and amortization		2,853		56			13			2,922
Asset impairments		582		—			—			582
Provision (benefit) for income taxes		1,793		29			(263	)		1,559
Investments in affiliates		75		368			—			443
Identifiable assets (b)		37,687		2,066			615			40,368
Capital employed (c)		26,339		1,212			405			27,956
Capital expenditures		7,676		61			6			7,743

2011
Operating revenues (a)	$	10,646	$	10,805		$	—		$	21,451

Net income (loss) from continuing operations attributable to Hess Corporation	$	2,675	$	(729	)	$	(388	)	$	1,558

Loss from equity investment in HOVENSA L.L.C.	$	—	$	(1,073	)	$	—		$	(1,073	)
Interest expense		—		—			383			383
Depreciation, depletion and amortization		2,305		55			13			2,373
Asset impairments		358		—			—			358
Provision (benefit) for income taxes		1,313		(349	)		(255	)		709
Investments in affiliates		97		287			—			384
Identifiable assets (b)		32,323		2,960			511			35,794
Capital employed (c)		22,699		1,453			(387	)		23,765
Capital expenditures		6,888		50			3			6,941

(a)

(b)

Excludes identifiable assets related to the discontinued operations.

(c)

E&P, Retail Marketing and Other and Corporate only. Calculated as equity plus debt.

Financial Information by Major Geographic Area

The following table presents financial information by major geographic area:


	United States			Europe				Africa			Asia and Other			Total
	(In millions)
2013
Operating revenues		$	16,589		$	1,336			$	2,736		$	1,623		$	22,284
Property, plant and equipment (net) (b)			16,082			7,475	(a)			2,310			2,899			28,766
2012
Operating revenues		$	16,588		$	2,530			$	2,484		$	1,779		$	23,381
Property, plant and equipment (net) (b)			13,914			8,172	(a)			2,517			3,875			28,478
2011
Operating revenues		$	14,916		$	3,137			$	1,782		$	1,616		$	21,451
Property, plant and equipment (net) (b)			11,172			6,826	(a)			2,355			4,033			24,386

(a)

Of the total Europe property, plant and equipment (net), Norway represented $6,348 million, $6,426 million and $5,031 million in 2013, 2012 and 2011, respectively.

(b)

Excludes property, plant and equipment (net) related to the discontinued operations.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Related Party Transactions

The following table presents the Corporation’s related party transactions:


	2013			2012			2011
	(In millions)
Purchases:
HOVENSA (a)		$	—		$	145		$	3,806
Bayonne Energy Center LLC (b)			38			20			—
Sales:
WilcoHess			2,828			3,058			2,898
HOVENSA			90			191			710

(a)

The Corporation ceased purchasing refined products from HOVENSA following the closure of HOVENSA’s refinery in January 2012.

(b)

Represents purchases of electricity from this 50% owned joint venture under a tolling agreement.

Corporation's Related Party Accounts Receivable (Payable)

The following table presents the Corporation’s related party accounts receivable (payable) at December 31:


	2013				2012
	(In millions)
WilcoHess		$	114			$	119
Bayonne Energy Center LLC			(4	)			(3	)

Risk Management and Trading Activities (Tables)

12 Months Ended

Dec. 31, 2013

Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities)


	Gross Amounts			Gross Amounts Offset in the Consolidated Balance Sheet						Net Amounts Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet			Net Amounts
	Gross Amounts			Physical Derivative and Financial Instruments			Cash Collateral*			Net Amounts Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet			Net Amounts
	(i)			(ii)			(iii)			(iv)=(i)+(ii)+(iii)			(v)			(vi)=(iv)+(v)
	(In millions)
December 31, 2013
Assets
Derivative contracts
Commodity	$	3,086		$	(1,867	)	$	(79	)	$	1,140		$	(41	)	$	1,099
Interest rate and other		51			(10	)		—			41			(3	)		38
Counterparty netting		—			(206	)		—			(206	)		—			(206	)

Total derivative contracts	$	3,137		$	(2,083	)	$	(79	)	$	975		$	(44	)	$	931

Liabilities
Derivative contracts
Commodity	$	(3,212	)	$	1,867		$	168		$	(1,177	)	$	41		$	(1,136	)
Interest rate and other		(12	)		10			—			(2	)		3			1
Counterparty netting		—			206			—			206			—			206

Total derivative contracts	$	(3,224	)	$	2,083		$	168		$	(973	)	$	44		$	(929	)

December 31, 2012
Assets
Derivative contracts
Commodity	$	3,253		$	(2,661	)	$	(34	)	$	558		$	(45	)	$	513
Interest rate and other		100			(8	)		—			92			(6	)		86
Counterparty netting		—			(81	)		—			(81	)		—			(81	)

Total derivative contracts	$	3,353		$	(2,750	)	$	(34	)	$	569		$	(51	)	$	518

Liabilities
Derivative contracts
Commodity	$	(3,312	)	$	2,661		$	5		$	(646	)	$	45		$	(601	)
Other		(10	)		8			—			(2	)		6			4
Counterparty netting		—			81			—			81			—			81

Total derivative contracts	$	(3,322	)	$	2,750		$	5		$	(567	)	$	51		$	(516	)

*	There is no cash collateral that was not offset in the Consolidated Balance Sheet.

Gross and Net Fair Values of Corporate and Energy Marketing Risk Management and Trading Derivative Instruments

The table below reflects the gross and net fair values of the corporate and energy marketing risk management and trading derivative instruments:


	Accounts Receivable			Accounts Payable
	(In millions)
December 31, 2013
Derivative contracts designated as hedging instruments
Commodity	$	11		$	(3	)
Interest rate and other		36			(1	)

Total derivative contracts designated as hedging instruments		47			(4	)

Derivative contracts not designated as hedging instruments*
Commodity		3,075			(3,209	)
Foreign exchange		2			(3	)
Other		13			(8	)

Total derivative contracts not designated as hedging instruments		3,090			(3,220	)

Gross fair value of derivative contracts		3,137			(3,224	)
Master netting arrangements		(2,083	)		2,083
Cash collateral (received) posted		(79	)		168

Net fair value of derivative contracts	$	975		$	(973	)

December 31, 2012
Derivative contracts designated as hedging instruments
Commodity	$	65		$	(124	)
Interest rate and other		72			(2	)

Total derivative contracts designated as hedging instruments		137			(126	)

Derivative contracts not designated as hedging instruments*
Commodity		3,188			(3,188	)
Foreign exchange		14			—
Other		14			(8	)

Total derivative contracts not designated as hedging instruments		3,216			(3,196	)

Gross fair value of derivative contracts		3,353			(3,322	)
Master netting arrangements		(2,750	)		2,750
Cash collateral (received) posted		(34	)		5

Net fair value of derivative contracts	$	569		$	(567	)

*	Includes trading derivatives and derivatives used for risk management.

Fair Values for Corporation's Net Physical Derivative and Financial Assets and (Liabilities)

The following table provides the Corporation’s net physical derivative and financial assets and (liabilities) that are measured at fair value based on this hierarchy:


	Level 1			Level 2			Level 3			Counterparty netting			Collateral			Balance
	(In millions)
December 31, 2013
Assets
Derivative contracts
Commodity	$	254		$	579		$	494		$	(108	)	$	(79	)	$	1,140
Interest rate and other		2			37			3			(1	)		—			41
Collateral and counterparty netting		(15	)		(191	)		—			—			—			(206	)

Total derivative contracts		241			425			497			(109	)		(79	)		975
Other assets measured at fair value on a recurring basis		—			—			—			—			—			—

Total assets measured at fair value on a recurring basis	$	241		$	425		$	497		$	(109	)	$	(79	)	$	975	(a)

Liabilities
Derivative contracts
Commodity	$	(97	)	$	(1,071	)	$	(285	)	$	108		$	168		$	(1,177	)
Other		—			(3	)		—			1			—			(2	)
Collateral and counterparty netting		15			191			—			—			—			206

Total derivative contracts		(82	)		(883	)		(285	)		109			168			(973	)
Other liabilities measured at fair value on a recurring basis		(31	)		—			—			—			—			(31	)

Total liabilities measured at fair value on a recurring basis	$	(113	)	$	(883	)	$	(285	)	$	109		$	168		$	(1,004	) (b)

Other fair value measurement disclosures
Long-term debt (c)	$	—		$	(6,641	)	$	—		$	—		$	—		$	(6,641	)

December 31, 2012
Assets
Derivative contracts
Commodity	$	94		$	445		$	243		$	(190	)	$	(34	)	$	558
Interest rate and other		6			86			1			(1	)		—			92
Collateral and counterparty netting		(23	)		(54	)		(4	)		—			—			(81	)

Total derivative contracts		77			477			240			(191	)		(34	)		569
Other assets measured at fair value on a recurring basis		5			49			—			(2	)		—			52

Total assets measured at fair value on a recurring basis	$	82		$	526		$	240		$	(193	)	$	(34	)	$	621

Liabilities
Derivative contracts
Commodity	$	(83	)	$	(657	)	$	(101	)	$	190		$	5		$	(646	)
Other		(1	)		(2	)		—			1			—			(2	)
Collateral and counterparty netting		23			54			4			—			—			81

Total derivative contracts		(61	)		(605	)		(97	)		191			5			(567	)
Other liabilities measured at fair value on a recurring basis		(40	)		(2	)		(2	)		2			—			(42	)

Total liabilities measured at fair value on a recurring basis	$	(101	)	$	(607	)	$	(99	)	$	193		$	5		$	(609	)

Other fair value measurement disclosures
Long-term debt (c)	$	—		$	(8,887	)	$	—		$	—		$	—		$	(8,887	)

(a)

Includes a total of $239 million of Level 1, $180 million of Level 2 and $51 million of Level 3 assets that relate to the Corporation’s continuing operations.

(b)

Includes a total of $79 million of Level 1, $447 million of Level 2 and $32 million of Level 3 liabilities that relate to the Corporation’s continuing operations.

(c)

Long-term debt, including current maturities, had a carrying value of $5,798 million and $7,361 million at December 31, 2013 and 2012, respectively.

Net Transfers into and out of Each Level of Fair Value Hierarchy

The following table provides total net transfers into and out of each level of the fair value hierarchy:


	2013			2012
	(In millions)
Transfers into Level 1	$	3		$	251
Transfers out of Level 1		76			210

	$	79		$	461

Transfers into Level 2	$	(113	)	$	(234	)
Transfers out of Level 2		88			(293	)

	$	(25	)	$	(527	)

Transfers into Level 3	$	(85	)	$	99
Transfers out of Level 3		31			(33	)

	$	(54	)	$	66

Changes in Physical Derivatives and Financial Assets and (Liabilities) that are Measured at Fair Value Based on Level 3 Inputs

The following table provides changes in physical derivatives and financial assets and (liabilities) that are measured at fair value based on Level 3 inputs:


	2013			2012
	(In millions)
Balance at January 1	$	141		$	(143	)
Unrealized pre-tax gains (losses)
Included in earnings (a)		175			(78	)
Included in other comprehensive income (b)		—			44
Purchases (c)		45			247
Sales (c)		(34	)		(266	)
Settlements (d)		(61	)		271
Transfers into Level 3		(85	)		99
Transfers out of Level 3		31			(33	)

Balance at December 31	$	212		$	141

(a)

The unrealized pre-tax gains and losses included in earnings were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

(b)

(c)

(d)

Commodity Contracts with a Fair Value


	Unit of Measurement	Range / Weighted Average
December 31, 2013
Assets
Commodity contracts with a fair value of $494 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$78.45 - 228.86 / 118.68
Electricity	$ / MWH (b)	$19.52 - 165.75 / 45.76

Basis prices
Natural gas	$ / MMBTU (c)	$(4.99) - 18.10 / 0.23

Contract volatilities
Crude oil and refined petroleum products	%	16.00 - 18.00 / 17.00
Natural gas	%	17.00 - 35.00 / 22.00
Electricity	%	16.00 - 36.00 / 23.00

Liabilities
Commodity contracts with a fair value of $285 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$57.45 - 183.89 / 122.54
Electricity	$ / MWH (b)	$26.48 - 155.33 / 43.12

Basis prices
Natural gas	$ / MMBTU (c)	$(1.90) - 18.00 / (0.62)

Contract volatilities
Crude oil and refined petroleum products	%	16.00 - 17.00 / 17.00
Natural gas	%	34.00 - 35.00 / 35.00
Electricity	%	16.00 - 36.00 / 22.00


	Unit of Measurement	Range / Weighted Average
December 31, 2012
Assets
Commodity contracts with a fair value of $243 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$79.35 - 144.27 / 113.06
Electricity	$ / MWH (b)	$23.37 - 79.27 / 40.81

Basis prices
Natural gas	$ / MMBTU (c)	$(0.47) - 6.66 / 0.39

Contract volatilities
Crude oil and refined petroleum products	%	23.00 - 27.00 / 26.00
Natural gas	%	21.00 - 36.00 / 25.00
Electricity	%	18.00 - 40.00 / 28.00

Liabilities
Commodity contracts with a fair value of $101 million
Contract prices
Crude oil and refined petroleum products	$ / bbl (a)	$83.49 - 133.38 / 109.94
Electricity	$ / MWH (b)	$25.01 - 72.60 / 40.38

Basis prices
Natural gas	$ / MMBTU (c)	$(0.72) - 6.66 / 1.26

Contract volatilities
Crude oil and refined petroleum products	%	24.00 - 27.00 / 26.00
Natural gas	%	21.00 - 28.00 / 22.00

(a)

Price per barrel.

(b)

Price per megawatt hour.

(c)

Price per million British thermal unit.

Note:

Fair value measurement for all recurring inputs was performed using a combination of income and market approach techniques.

Corporate Risk Management [Member]

Gross Volumes of Corporation's Derivative Contracts Outstanding

The gross volumes of the Corporate risk management derivative contracts outstanding at December 31, were as follows:


	2013		2012
Commodity, primarily crude oil (millions of barrels)		9		1
Foreign exchange (millions of U.S. Dollars)	$	220	$	1,285
Interest rate swaps (millions of U.S. Dollars)	$	865	$	880

Net Realized and Unrealized Pre-Tax Gains (Losses) on Derivative Contracts Used in Corporate Risk Management Activities and Not Designated As Hedges

Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges amounted to the following:


	2013			2012		2011
	(In millions)
Commodity	$	—		$	1	$	1
Foreign exchange		(39	)		43		(15	)

Total	$	(39	)	$	44	$	(14	)

Energy Marketing Risk Management [Member]

Gross Volumes of Corporation's Derivative Contracts Outstanding

The gross volumes of the Corporation’s energy marketing derivative contracts outstanding at December 31, including the delayed derivative transfer contracts were as follows:


	2013		2012
Crude oil and refined petroleum products (millions of barrels)		19		26
Natural gas (millions of mcf*)		3,325		2,938
Electricity (millions of megawatt hours)		258		278

*	One mcf represents one thousand cubic feet.

Trading Activities [Member]

Gross Volumes of Corporation's Derivative Contracts Outstanding

The gross volumes of derivative contracts outstanding related to trading activities at December 31, were as follows:


	2013		2012
Commodity
Crude oil and refined petroleum products (millions of barrels)		1,815		1,179
Natural gas (millions of mcf)		2,735		3,377
Electricity (millions of megawatt hours)		1		19
Foreign exchange (millions of U.S. Dollars)	$	52	$	412
Other
Interest rate (millions of U.S. Dollars)	$	—	$	167
Equity securities (millions of shares)		11		14

Net Realized and Unrealized Pre-Tax Gains (Losses) on Derivative Contracts Used in Corporate Risk Management Activities and Not Designated As Hedges

Pre-tax unrealized and realized gains (losses) recorded in the Statement of Consolidated Income from trading activities amounted to the following:


	2013		2012		2011
	(In millions)
Commodity	$	78	$	104	$	44
Foreign exchange		—		3		—
Other		1		10		(28	)

Total*	$	79	$	117	$	16

*	The unrealized pre-tax gains and losses included in earnings were reflected in Sales and other operating revenues and Income from discontinued operations in the Statement of Consolidated Income.

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013
Related Party Transaction [Line Items]
Ownership in controlling entities	More than a 50% voting interest
Ownership percentage in trading partnership	50.00%
Percentage holding in affiliated companies, minimum	20.00%
Percentage holding in affiliated companies, maximum	50.00%
Prior service costs and actuarial gains and losses in excess of greater of benefit obligation or market value of assets represented as percentage	10.00%
HOVENSA [Member]
Related Party Transaction [Line Items]
HOVENSA L.L.C. (HOVENSA), a 50/50 joint venture between Hess Oil Virgin Islands Corp. (HOVIC) and a subsidiary of Petroleos de Venezuela S.A. (PDVSA)	50.00%

Dispositions - Exploration and Production - Additional Information (Detail) - USD ($) $ in Millions										12 Months Ended
	Dec. 31, 2013	Apr. 30, 2013	Mar. 31, 2013	Jan. 31, 2013	Oct. 31, 2012	Sep. 30, 2012	Jan. 31, 2012	Aug. 31, 2011	Feb. 28, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Dispositions [Abstract]
Gain on asset sale, pre-tax	$ 1,500									$ 1,500
Gain on asset sale, after-tax	995									995
Goodwill written off related to sale of business unit										339	$ 97
Cash proceeds from asset sales										4,458	$ 843	$ 490
Natuna A [Member]
Dispositions [Abstract]
Cash proceeds from sale of subsidiary	656
Gain on asset sale, pre-tax	388									388
Gain on asset sale, after-tax	343									$ 343
Goodwill written off related to sale of business unit	$ 39
Samara-Nafta [Member]
Dispositions [Abstract]
Cash proceeds from sale of subsidiary		$ 2,100
Gain on asset sale, after-tax		1,119
Goodwill written off related to sale of business unit		$ 148
Corporation's ownership in subsidiary		100.00%
Corporation's proportionate interest in oil and gas assets (in percentage)		90.00%
Cash proceeds from asset sales		$ 1,900
Net gain on sale attributable to noncontrolling interest holder's share		168
Net gain on sale attributable to parent		$ 951
Azeri-Chirag-Guneshli (ACG) fields [Member]
Dispositions [Abstract]
Corporation's proportionate interest in oil and gas assets (in percentage)			3.00%
Baku-Tbilisi-Ceyhan (BTC) pipeline [Member]
Dispositions [Abstract]
Corporation's proportionate interest in oil and gas assets (in percentage)			2.00%
Baku-Tbilisi-Ceyhan pipeline and Azeri-Chirag-Guneshli fields [Member]
Dispositions [Abstract]
Gain on asset sale, pre-tax			$ 360
Gain on asset sale, after-tax			360
Goodwill written off related to sale of business unit			52
Cash proceeds from asset sales			$ 884
Beryl Fields and Scottish Area Gas Evacuation System (SAGE) [Member]
Dispositions [Abstract]
Gain on asset sale, pre-tax				$ 328
Gain on asset sale, after-tax				323
Goodwill written off related to sale of business unit				48
Cash proceeds from asset sales				$ 442
Bittern Field [Member]
Dispositions [Abstract]
Cash proceeds from sale of subsidiary					$ 187
Gain on asset sale, after-tax					172
Goodwill written off related to sale of business unit					$ 12
Corporation's proportionate interest in oil and gas assets (in percentage)					28.00%
Schiehallion Field [Member]
Dispositions [Abstract]
Gain on asset sale, pre-tax						$ 376
Gain on asset sale, after-tax						349
Goodwill written off related to sale of business unit						$ 27
Corporation's proportionate interest in oil and gas assets (in percentage)						16.00%
Cash proceeds from asset sales						$ 524
Snohvit [Member]
Dispositions [Abstract]
Gain on asset sale, after-tax							$ 36
Goodwill written off related to sale of business unit							$ 14
Corporation's proportionate interest in oil and gas assets (in percentage)							3.00%
Cash proceeds from asset sales							$ 132
UK North Sea [Member]
Dispositions [Abstract]
Cash proceeds from sale of subsidiary									$ 359
Gain on asset sale, pre-tax									343
Gain on asset sale, after-tax									$ 310
Snorre Field [Member]
Dispositions [Abstract]
Corporation's proportionate interest in oil and gas assets (in percentage)								1.00%
Cook Field [Member]
Dispositions [Abstract]
Corporation's proportionate interest in oil and gas assets (in percentage)								28.00%
UK North Sea and Norway [Member]
Dispositions [Abstract]
Gain on asset sale, after-tax								$ 103
Cash proceeds from asset sales								$ 131

Dispositions - Discontinued Operations - Additional Information (Detail) - USD ($) $ in Millions			12 Months Ended
	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Dispositions [Abstract]
Effect of LIFO inventory liquidation on income, Before tax			$ 678	$ 165
U.S. East Coast Terminal Network, St. Lucia Terminal and Related Businesses [Member]
Dispositions [Abstract]
Cash proceeds from asset sale	$ 1,000		$ 1,000
Effect of LIFO inventory liquidation on income, Before tax	739
Effect of LIFO inventory liquidation on net income, After tax	$ 531
Energy Marketing Business [Member]
Dispositions [Abstract]
Cash proceeds from asset sale		$ 1,200
Effect of LIFO inventory liquidation on income, Before tax		761
Effect of LIFO inventory liquidation on net income, After tax		$ 464

Discontinued Operations - Summary of Sales and Other Operating Revenues and Income from Discontinued Operations (Detail) - Discontinued Downstream Businesses [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales and other operating revenues	$ 12,273	$ 14,386	$ 17,132
Income from discontinued operations before income taxes	1,943	312	222
Current tax provision (benefit)
Deferred tax provision (benefit)	689	116	77
Provision for income taxes	689	116	77
Income from discontinued operations, net of income taxes	$ 1,254	$ 196	$ 145

Discontinued Operations - Summary of Sales and Other Operating Revenues and Income from Discontinued Operations (Parenthetical) (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Discontinued Operations And Disposal Groups [Abstract]
Gain on asset sale, after-tax	$ 995
Gain on asset sale, pre-tax	$ 1,500

Exit and Disposal Costs - Components of and Changes in Restructuring Accruals (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Balance at ending of period	$ 289
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	252
Payments	(81)
Balance at ending of period	171
Facility and Other Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	220
Payments	(102)
Balance at ending of period	118
Continuing Operations [Member] \| Exploration and Production [Member]
Restructuring Cost and Reserve [Line Items]
Balance at ending of period	85
Continuing Operations [Member] \| Retail Marketing and Other [Member]
Restructuring Cost and Reserve [Line Items]
Balance at ending of period	44
Continuing Operations [Member] \| Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Balance at ending of period	43
Continuing Operations [Member] \| Employee Severance [Member] \| Exploration and Production [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	75
Payments	(43)
Balance at ending of period	32
Continuing Operations [Member] \| Employee Severance [Member] \| Retail Marketing and Other [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	40
Payments
Balance at ending of period	40
Continuing Operations [Member] \| Employee Severance [Member] \| Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	29
Payments	(3)
Balance at ending of period	26
Continuing Operations [Member] \| Facility and Other Exit Costs [Member] \| Exploration and Production [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	62
Payments	(9)
Balance at ending of period	53
Continuing Operations [Member] \| Facility and Other Exit Costs [Member] \| Retail Marketing and Other [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	28
Payments	(24)
Balance at ending of period	4
Continuing Operations [Member] \| Facility and Other Exit Costs [Member] \| Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	17
Payments
Balance at ending of period	17
Discontinued Operations [Member]
Restructuring Cost and Reserve [Line Items]
Balance at ending of period	117
Discontinued Operations [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	108
Payments	(35)
Balance at ending of period	73
Discontinued Operations [Member] \| Facility and Other Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Balance at beginning of period
Provision	113
Payments	(69)
Balance at ending of period	$ 44

Exit and Disposal Costs - Components of and Changes in Restructuring Accruals (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Reversed share-based compensation expense related to grants that are expected to be forfeited	$ 33
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Provision	252
Employee Severance [Member] \| Discontinued Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	108
Employee Severance [Member] \| Marketing Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Provision	40
Employee Severance [Member] \| General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Provision	63
Facility and Other Exit Costs [Member]
Restructuring Cost and Reserve [Line Items]
Provision	220
Facility and Other Exit Costs [Member] \| Discontinued Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	113
Exploration and Production [Member] \| Employee Severance [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	75
Exploration and Production [Member] \| Employee Severance [Member] \| Operating Costs and Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Provision	22
Exploration and Production [Member] \| Employee Severance [Member] \| Exploration Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Provision	19
Exploration and Production [Member] \| Facility and Other Exit Costs [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	62
Exploration and Production [Member] \| Facility and Other Exit Costs [Member] \| Operating Costs and Expenses [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	1
Exploration and Production [Member] \| Facility and Other Exit Costs [Member] \| General and Administrative Expenses [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	37
Exploration and Production [Member] \| Facility and Other Exit Costs [Member] \| Depreciation, Depletion and Amortization Expenses [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	16
Exploration and Production [Member] \| Facility and Other Exit Costs [Member] \| Other [Member] \| Continuing Operations [Member]
Restructuring Cost and Reserve [Line Items]
Provision	$ 8

Exit and Disposal Costs - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Restructuring Cost and Reserve [Line Items]
Enhanced benefit arrangements	$ 30
Continuing Operations [Member] \| Exploration and Production [Member]
Restructuring Cost and Reserve [Line Items]
Enhanced benefit arrangements	5
Continuing Operations [Member] \| Retail Marketing and Other [Member]
Restructuring Cost and Reserve [Line Items]
Enhanced benefit arrangements	10
Continuing Operations [Member] \| Corporate [Member]
Restructuring Cost and Reserve [Line Items]
Enhanced benefit arrangements	10
Discontinued Operations [Member]
Restructuring Cost and Reserve [Line Items]
Enhanced benefit arrangements	$ 5

Acquisitions - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2011 USD ($) a	Dec. 31, 2013 USD ($)	Jun. 30, 2013 USD ($) a
CONSOL Energy Inc. [Member]
Business Acquisition [Line Items]
Corporation's proportionate interest in oil and gas assets (in percentage)	50.00%
Total drilling costs payable over 5-year period (maximum)	$ 534
Period over which drilling costs to be amortized	5 years
Percentage of funding for drilling costs	50.00%
Reduction in joint venture acreage \| a			64,000
Gross joint venture acreage \| a			146,000
Corporation's carry obligation		$ 200	$ 335
Scenario, Previously Reported [Member] \| CONSOL Energy Inc. [Member]
Business Acquisition [Line Items]
Corporation's carry obligation			$ 534
Utica Shale play [Member]
Business Acquisition [Line Items]
Net acres acquired (In acres) \| a	85,000
Business acquisition, cost of acquired entity, purchase price	$ 750
Utica Shale play [Member] \| CONSOL Energy Inc. [Member]
Business Acquisition [Line Items]
Net acres acquired (In acres) \| a	200,000
Business acquisition, cost of acquired entity, purchase price	$ 59

Inventories - Inventories (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
Crude oil and other charge stocks	$ 291	$ 493
Refined petroleum products and natural gas	618	1,362
Less: LIFO adjustment	(339)	(1,123)
Total net crude oil, natural gas and refined petroleum product inventories	570	732
Merchandise, materials and supplies	384	527
Total inventories	$ 954	$ 1,259

Inventories - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Inventory [Line Items]
Percentage of LIFO inventories	43.00%	71.00%
Effect of LIFO inventory liquidation on income, Before tax	$ 678	$ 165
Effect of LIFO inventory liquidation on income, After tax	414	104
Total inventories	954	1,259
E&P Segment [Member]
Inventory [Line Items]
Total inventories	$ 599	$ 738

Property, Plant and Equipment - Components of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Exploration and Production
Unproved properties	$ 2,460	$ 3,558
Proved properties	4,121	4,072
Wells, equipment and related facilities	37,274	35,385
Total Exploration and Production costs	43,855	43,015
Retail Marketing, Corporate and Other	2,095	2,538
Total - at cost	45,950	45,553
Less: Reserves for depreciation, depletion, amortization and lease impairment	17,179	16,746
Property, plant and equipment - net	$ 28,771	$ 28,807

Property, Plant and Equipment - Exploration and Production - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Significant Acquisitions and Disposals [Line Items]
Goodwill	$ 76	$ 52
Assets retirement obligations and deferred income taxes reported in liabilities associated with assets held for sale	286	539
Goodwill allocated	$ 1,869	2,208	$ 2,305
Pailin [Member]
Significant Acquisitions and Disposals [Line Items]
Corporation's proportionate interest in oil and gas assets (in percentage)	15.00%
Sinphuhorm [Member]
Significant Acquisitions and Disposals [Line Items]
Corporation's proportionate interest in oil and gas assets (in percentage)	35.00%
Pangkah [Member]
Significant Acquisitions and Disposals [Line Items]
Corporation's proportionate interest in oil and gas assets (in percentage)	75.00%
Azeri Chirag Guneshli Fields Baku Tbilisi Ceyhan Pipeline And Beryl Fields [Member]
Significant Acquisitions and Disposals [Line Items]
Carrying amount of properties classified as held for sale		1,092
Assets retirement obligations and deferred income taxes reported in liabilities associated with assets held for sale		539
Goodwill allocated		$ 100
Exploration and Production [Member]
Significant Acquisitions and Disposals [Line Items]
Carrying amount of properties classified as held for sale	$ 1,097
Goodwill	76
Assets retirement obligations and deferred income taxes reported in liabilities associated with assets held for sale	$ 286

Property, Plant and Equipment - Net Changes in Capitalized Exploratory Well Costs (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) Well	Dec. 31, 2012 USD ($) Well	Dec. 31, 2011 USD ($) Well
Property Plant And Equipment [Abstract]
Beginning balance	$ 2,259	$ 2,022	$ 1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves	237	407	512
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(106)	(41)	(171)
Capitalized exploratory well costs charged to expense	(267)	(129)	(90)
Dispositions and other	(78)		(12)
Ending balance	$ 2,045	$ 2,259	$ 2,022
Number of wells at end of year \| Well	50	68	59

Property, Plant and Equipment - Capitalized Exploratory Well Costs - Additional Information (Detail) $ in Millions		6 Months Ended	12 Months Ended
	Feb. 28, 2013 Well	Dec. 31, 2014 Well	Dec. 31, 2013 USD ($) Well Project	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Significant Acquisitions and Disposals [Line Items]
Capitalized exploratory well costs charged to expense \| $			$ 267	$ 129	$ 90
Exploratory dry hole costs which were incurred and subsequently expensed \| $			$ 77	$ 248	$ 348
Total number of projects with capitalized well costs in excess of one year \| Project			8
Number of consecutive successful exploration wells	7
Number of well appraisal drilling plans			7
Number of well appraisal drilling plans approved			4
Scenario Forecast [Member]
Significant Acquisitions and Disposals [Line Items]
Number of well appraisal drilling plans approved		3
Stampede [Member]
Significant Acquisitions and Disposals [Line Items]
Working interest in the blocks			20.00%
Area 54, Offshore Libya [Member]
Significant Acquisitions and Disposals [Line Items]
Capitalized exploratory well costs charged to expense \| $			$ 260
Block WA-390-P, offshore Western Australia [Member]
Significant Acquisitions and Disposals [Line Items]
Capitalized well costs			45.00%
Pony Project - Block 468 [Member]
Significant Acquisitions and Disposals [Line Items]
Capitalized well costs			27.00%
Pony #3 Well - Block 469 [Member]
Significant Acquisitions and Disposals [Line Items]
Capitalized well costs			8.00%
Offshore Ghana [Member]
Significant Acquisitions and Disposals [Line Items]
Capitalized well costs			16.00%

Property, Plant and Equipment - Exploratory Drilling Costs Capitalized (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 1,884
Year 2012 [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	372
Year 2011 [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	385
Year 2010 [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	358
Year 2009 [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	159
2008 and prior [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 610

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance at January 1	$ 2,208	$ 2,305
Dispositions	(339)	(97)
Ending balance at December 31	$ 1,869	$ 2,208

Goodwill - Changes in Carrying Amount of Goodwill (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill Reclassified to Assets Held for Sale	$ 76	$ 52

Asset Impairments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Feb. 28, 2011
Significant Acquisitions and Disposals [Line Items]
Sale of assets		$ 4,458	$ 843	$ 490
Gain on asset sale, pre-tax	$ 1,500	1,500
Gain on asset sale, after-tax	995	995
Impairment charge before income tax		289	582	358
Natuna A [Member]
Significant Acquisitions and Disposals [Line Items]
Gain on asset sale, pre-tax	388	388
Gain on asset sale, after-tax	343	343
UK North Sea [Member]
Significant Acquisitions and Disposals [Line Items]
Gain on asset sale, pre-tax					$ 343
Gain on asset sale, after-tax					$ 310
Exploration and Production [Member]
Significant Acquisitions and Disposals [Line Items]
Impairment charge before income tax			582
Impairment charge after income tax			344
Exploration and Production [Member] \| Cotulla Area of Eagle Ford Shale [Member]
Significant Acquisitions and Disposals [Line Items]
Impairment charge before income tax			374
Impairment charge after income tax			228
Exploration and Production [Member] \| Corporation's Non-producing Properties [Member]
Significant Acquisitions and Disposals [Line Items]
Impairment charge before income tax			208
Impairment charge after income tax			$ 116
Exploration and Production [Member] \| Pangkah [Member]
Significant Acquisitions and Disposals [Line Items]
Impairment charge before income tax	289
Impairment charge after income tax	187
Exploration and Production [Member] \| Natuna A And Pangkah [Member]
Significant Acquisitions and Disposals [Line Items]
Sale of assets	1,300
Exploration and Production [Member] \| Natuna A [Member]
Significant Acquisitions and Disposals [Line Items]
Gain on asset sale, pre-tax	388	388
Gain on asset sale, after-tax	$ 343	$ 343
Exploration and Production [Member] \| UK North Sea [Member] \| Corporation's Non-producing Properties [Member]
Significant Acquisitions and Disposals [Line Items]
Impairment charge before income tax				358
Impairment charge after income tax				$ 140

HOVENSA L.L.C. Joint Venture - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2013
Related Party Transaction [Line Items]
Hess Corporation's income (loss) from equity investment in HOVENSA L.L.C.	$ (1,073)
HOVENSA [Member]
Related Party Transaction [Line Items]
Percentage ownership in joint venture with PDVSA		50.00%
Hess Corporation's income (loss) from equity investment in HOVENSA L.L.C.	(1,073)
Income (loss) from equity investment in HOVENSA L.L.C related to shut down (before income taxes)	(875)
Income (loss) from equity investment in HOVENSA L.L.C related to shut down (after income taxes)	(525)
Write-off of subsidiary assets	$ 135

Asset Retirement Obligations - Changes to Corporation's Asset Retirement Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations at beginning of period	$ 2,661	$ 2,071
Liabilities incurred	42	186
Liabilities settled or disposed of	(576)	(324)
Accretion expense	129	135
Revisions of estimated liabilities	573	529
Foreign currency translation	(57)	64
Asset retirement obligations at end of period	2,772	2,661
Less: Current obligations	523	449
Long-term obligations at end of period	$ 2,249	$ 2,212

Debt and Interest Expense - Long-Term Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Fixed-rate public notes	$ 5,275	$ 5,274
Leased floating production system	296	180
Other fixed-rate notes, weighted average rate 12.9%, due through 2023	135	111
Project lease financing, weighted average rate 5.1%, due through 2014	60	78
Fair value adjustments - interest rate hedging	30	65
Pollution control revenue bonds, weighted average rate 5.9% in 2012		53
Other debt	2	2
Total debt	5,798	8,111
Less: Short-term debt and current maturities of long-term debt	378	787
Total long-term debt	5,420	7,324
7.0% Due 2014 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	250	250
8.1% Due 2019 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	998	998
7.9% Due 2029 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	695	695
7.3% Due 2031 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	747	746
7.1% Due 2033 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	598	598
6.0% Due 2040 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	745	745
5.6% Due 2041 [Member]
Debt Instrument [Line Items]
Fixed-rate public notes	1,242	1,242
Revolving Credit Facility, Weighted Average Rate 1.6% [Member]
Debt Instrument [Line Items]
Credit facility		758
Asset-backed Credit Facility, Weighted Average Rate 0.8% [Member]
Debt Instrument [Line Items]
Credit facility		600
Short-term Credit Facilities [Member]
Debt Instrument [Line Items]
Credit facility		$ 990

Debt and Interest Expense - Long-Term Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Weighted average interest rate	6.90%
Other Fixed Rate Notes 12.9%, Due 2023 [Member]
Debt Instrument [Line Items]
Weighted average interest rate	12.90%
Maturity year	2023
Project Lease Financing 5.1% Due 2014 [Member]
Debt Instrument [Line Items]
Weighted average interest rate	5.10%
Maturity year	2014
Pollution Control Revenue Bonds 5.9% [Member]
Debt Instrument [Line Items]
Weighted average interest rate		5.90%
7.0% Due 2014 [Member]
Debt Instrument [Line Items]
Coupon rate	7.00%
Maturity year	2014
8.1% Due 2019 [Member]
Debt Instrument [Line Items]
Coupon rate	8.10%
Maturity year	2019
7.9% Due 2029 [Member]
Debt Instrument [Line Items]
Coupon rate	7.90%
Maturity year	2029
7.3% Due 2031 [Member]
Debt Instrument [Line Items]
Coupon rate	7.30%
Maturity year	2031
7.1% Due 2033 [Member]
Debt Instrument [Line Items]
Coupon rate	7.10%
Maturity year	2033
6.0% Due 2040 [Member]
Debt Instrument [Line Items]
Coupon rate	6.00%
Maturity year	2040
5.6% Due 2041 [Member]
Debt Instrument [Line Items]
Coupon rate	5.60%
Maturity year	2041
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility weighted average interest rate		1.60%
Asset-backed Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility weighted average interest rate		0.80%
Short-term Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility weighted average interest rate		1.50%

Debt and Interest Expense - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2013 USD ($) Lease	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Debt Instrument [Line Items]
New syndicated revolving credit facility maturing in April 2016		$ 4,000
Interest rate on the borrowings on the credit facility description		1.25% above the London Interbank Offered Rate.
Credit facility fee (per annum)		0.25%
Maturity of revolving credit facilities		2016-04
Repayments under available credit facilities		$ 2,348
Capital lease obligations		$ 98
Acquisition of leased Hess retail gasoline stations \| Lease		50
Total other debt repayments		$ 136
Fixed-rate notes, principal amount		5,300
Fixed-rate notes, principal amount net of unamortized discount		$ 5,275	$ 5,274
Weighted average interest rate		6.90%
Aggregate long-term debt, maturing in 2014		$ 378
Aggregate long-term debt, maturing in 2015		74
Aggregate long-term debt, maturing in 2016		78
Aggregate long-term debt, maturing in 2017		89
Aggregate long-term debt, maturing in 2018		58
Additional debt for construction or acquisition of assets		35,500
Additional secured debt allowed to be borrowed		5,900
Letters of credit outstanding, contingent liabilities		117
Letters of credit outstanding, balance sheet liabilities		293
Letter of credit outstanding		410	746
Interest paid, net of amounts capitalized		408	419	$ 383
Capitalized interest		60	$ 28	$ 13
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repayments under available credit facilities		758
Short-term Credit Facilities [Member]
Debt Instrument [Line Items]
Repayments under available credit facilities		990
Asset-backed Credit Facility [Member]
Debt Instrument [Line Items]
Repayments under available credit facilities		600
Asset-Backed Credit Facility [Member]
Debt Instrument [Line Items]
Facility tenor	364 days
Leased Floating Production System [Member]
Debt Instrument [Line Items]
Additional non-cash debt		$ 116

Debt and Interest Expense - Outstanding Letters of Credit (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Debt Disclosure [Abstract]
Committed lines	$ 274	$ 463
Uncommitted lines	136	283
Total	$ 410	$ 746

Debt and Interest Expense - Outstanding Letters of Credit (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2013
Committed and Uncommitted Lines [Member]
Line of Credit Facility [Line Items]
Maturity year	2015

Share-based Compensation - Additional Information (Detail) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) Companies shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock options from the date of grant	3 years
Vesting period for outstanding restricted common stock from the date of grant	3 years
Option term (in years)	10 years
Number of predetermined peer companies \| Companies	15
Performance of predetermined peer companies	3 years
Minimum PSU awards payout	0.00%
Maximum PSU awards payout	200.00%
Unearned compensation expense, before income taxes due 2014	$ 45
Unearned compensation expense, before income taxes due 2015	27
Unearned compensation expense, before income taxes due 2016	4
Reversed share-based compensation expense related to grants that are expected to be forfeited	33
Intrinsic value for exercisable options	203
Intrinsic value for outstanding options	$ 204
Weighted average remaining contractual term of exercisable options	4 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reversed share-based compensation expense related to grants that are expected to be forfeited	$ 25
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reversed share-based compensation expense related to grants that are expected to be forfeited	7
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reversed share-based compensation expense related to grants that are expected to be forfeited	$ 1
Long-term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for future awards of restricted stock, stock options and PSUs \| shares	10.2
Common stock authorized for issuance \| shares	29.0

Share-based Compensation - Share-based Compensation Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Restricted stock, Before Income Taxes	$ 31	$ 57	$ 53
Stock options, Before Income Taxes	13	34	51
Performance share units, Before Income Taxes	10	8
Total, Before Income Taxes	54	99	104
Restricted stock, After Income Taxes	19	35	32
Stock options, After Income Taxes	8	21	31
Performance share units , After Income Taxes	6	5
Total, After Income Taxes	$ 33	$ 61	$ 63

Share-based Compensation - Share-based Compensation Expense (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share Based Compensation Expense Per Share [Line Items]
Pre-tax share-based compensation expense (benefit) included in Income from discontinued operations	$ 54	$ 99	$ 104
Income From Discontinued Operations [Member]
Share Based Compensation Expense Per Share [Line Items]
Pre-tax share-based compensation expense (benefit) included in Income from discontinued operations	$ (6)	$ 16	$ 18

Share-based Compensation - Summary of Stock-based Compensation Activity (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised Stock Options	(2,300)	(200)	(1,700)
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Stock, Beginning balance	2,904
Granted Stock	1,207
Exercised Stock
Vested Stock	(812)
Forfeited Stock	(434)
Outstanding Stock, Ending balance	2,865	2,904
Outstanding, Weighted Average Fair Value, Beginning	$ 66.89
Granted, Weighted Average Fair Value	69.49
Exercised, Weighted Average Fair Value
Vested, Weighted Average Fair Value	60.52
Forfeited, Weighted Average Fair Value	69.78
Outstanding, Weighted Average Fair Value, Ending balance	$ 69.36	$ 66.89
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Stock Options, Beginning balance	12,903
Granted Stock Options
Exercised Stock Options	(2,323)
Vested Stock Options
Forfeited Stock Options	(439)
Outstanding Stock Options, Ending balance	10,141	12,903
Outstanding Stock Options, Weighted Average Exercise Price, Beginning	$ 61.45
Granted, Stock Options, Weighted Average Exercise Price
Exercised, Stock Options, Weighted Average Exercise Price	51.17
Vested, Stock Options, Weighted Average Exercise Price
Forfeited, Stock Options, Weighted Average Exercise Price	78.41
Outstanding Stock Options, Weighted Average Exercise Price, Ending	$ 63.08	$ 61.45
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Stock, Beginning balance	414
Granted Stock	279
Exercised Stock
Vested Stock
Forfeited Stock	(58)
Outstanding Stock, Ending balance	635	414
Outstanding, Weighted Average Fair Value, Beginning	$ 73.26
Granted, Weighted Average Fair Value	111.49
Exercised, Weighted Average Fair Value
Vested, Weighted Average Fair Value
Forfeited, Weighted Average Fair Value	79.99
Outstanding, Weighted Average Fair Value, Ending balance	$ 89.45	$ 73.26

Share-based Compensation - Summary of Stock-based Compensation Activity (Parenthetical) (Detail) shares in Thousands	Dec. 31, 2013 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Exercisable, Weighted-Average Exercise Price per Share	$ 61.99
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Exercisable \| shares	9,570
Options Exercisable, Weighted-Average Exercise Price per Share	$ 61.99

Share-based Compensation - Summary of Information Regarding Outstanding and Exercisable Stock Options (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2013 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding \| shares	10,141
Outstanding Options, Weighted-Average Remaining Contractual Life	4 years
Outstanding Options, Weighted-Average Exercise Price per Share	$ 63.08
Options Exercisable \| shares	9,570
Options Exercisable, Weighted-Average Exercise Price per Share	$ 61.99
Exercise Price Range 20.00-40.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	20.00
Range of Exercise Prices, upper limit	$ 40.00
Options Outstanding \| shares	629
Outstanding Options, Weighted-Average Remaining Contractual Life	1 year
Outstanding Options, Weighted-Average Exercise Price per Share	$ 28.16
Options Exercisable \| shares	629
Options Exercisable, Weighted-Average Exercise Price per Share	$ 28.16
Exercise Price Range 40.01-50.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	40.01
Range of Exercise Prices, upper limit	$ 50.00
Options Outstanding \| shares	1,223
Outstanding Options, Weighted-Average Remaining Contractual Life	2 years
Outstanding Options, Weighted-Average Exercise Price per Share	$ 49.34
Options Exercisable \| shares	1,217
Options Exercisable, Weighted-Average Exercise Price per Share	$ 49.36
Exercise Price Range 50.01-60.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	50.01
Range of Exercise Prices, upper limit	$ 60.00
Options Outstanding \| shares	3,064
Outstanding Options, Weighted-Average Remaining Contractual Life	4 years
Outstanding Options, Weighted-Average Exercise Price per Share	$ 54.98
Options Exercisable \| shares	3,031
Options Exercisable, Weighted-Average Exercise Price per Share	$ 54.98
Exercise Price Range 60.01-80.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	60.01
Range of Exercise Prices, upper limit	$ 80.00
Options Outstanding \| shares	1,818
Outstanding Options, Weighted-Average Remaining Contractual Life	6 years
Outstanding Options, Weighted-Average Exercise Price per Share	$ 60.64
Options Exercisable \| shares	1,797
Options Exercisable, Weighted-Average Exercise Price per Share	$ 60.55
Exercise Price Range 80.01-120.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	80.01
Range of Exercise Prices, upper limit	$ 120.00
Options Outstanding \| shares	3,407
Outstanding Options, Weighted-Average Remaining Contractual Life	5 years
Outstanding Options, Weighted-Average Exercise Price per Share	$ 83.04
Options Exercisable \| shares	2,896
Options Exercisable, Weighted-Average Exercise Price per Share	$ 82.89

Share-based Compensation - Weighted Average Assumptions Utilized to Estimate Fair Value of PSU Awards (Detail) - Performance Share Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	0.36%	0.40%
Stock price volatility	35.90%	39.40%
Contractual term in years	3 years	3 years
Hess Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date price of Hess common stock	$ 69.49	$ 64.14

Foreign Currency - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Foreign Currency [Abstract]
Pre-tax foreign currency gains (losses)	$ (54)	$ 37	$ (29)
Increase (decrease) in stockholders' equity as a result of foreign currency	$ (1)	$ 169

Retirement Plans - Additional Information (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) yr $ / shares	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Age of qualified retirees, minimum \| yr	55
Age of qualified retirees, maximum \| yr	65
Estimated pension and postretirement medical expense for 2014	$ 20
Estimated amortization of unrecognized net actuarial losses for 2014	$ 28
Net asset value per fund share related to short-term investment funds \| $ / shares	$ 1
Budgeted contributions to funded pension plans in 2014	$ 80
Expense related to contribution for several defined contribution plans	$ 41	$ 40	$ 28
Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations for plan assets	50.00%
Fixed income securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations for plan assets	25.00%
Other investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations for plan assets	25.00%
Funded Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for the defined benefit pension plans	$ 1,873	1,937
Unfunded Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for the defined benefit pension plans	$ 222	$ 216

Retirement Plans - Funded Status of Pension and Postretirement Medical Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Change in fair value of plan assets
Balance at January 1	$ 1,763
Balance at December 31	2,145	$ 1,763
Funded Pension Plans [Member]
Change in benefit obligation
Balance at January 1	2,110	1,866
Service cost	61	64
Interest cost	82	81
Actuarial (gain) loss	(139)	134
Benefit payments	(69)	(54)
Plan curtailments	(103)
Plan settlements
Special termination benefits	5
Foreign currency exchange rate changes	10	19
Balance at December 31	1,957	2,110	$ 1,866
Change in fair value of plan assets
Balance at January 1	1,763	1,493
Actual return on plan assets	292	155
Employer contributions	146	150
Benefit payments	(69)	(54)
Plan settlements
Foreign currency exchange rate changes	13	19
Balance at December 31	2,145	1,763	1,493
Funded status (plan assets greater (less) than benefit obligations) at December 31	188	(347)
Unrecognized net actuarial (gains) losses	405	850
Net amount recognized	593	503
Unfunded Pension Plan [Member]
Change in benefit obligation
Balance at January 1	234	227
Service cost	12	10
Interest cost	7	7
Actuarial (gain) loss	28	13
Benefit payments	(20)	(2)
Plan curtailments	(8)
Plan settlements		(21)
Special termination benefits
Foreign currency exchange rate changes
Balance at December 31	253	234	227
Change in fair value of plan assets
Balance at January 1
Actual return on plan assets
Employer contributions	20	23
Benefit payments	(20)	(2)
Plan settlements		(21)
Foreign currency exchange rate changes
Balance at December 31
Funded status (plan assets greater (less) than benefit obligations) at December 31	(253)	(234)
Unrecognized net actuarial (gains) losses	108	97
Net amount recognized	(145)	(137)
Postretirement Medical Plan [Member]
Change in benefit obligation
Balance at January 1	134	125
Service cost	4	7	6
Interest cost	3	5	5
Actuarial (gain) loss	(4)	2
Benefit payments	(5)	(5)
Plan curtailments	(35)
Plan settlements
Special termination benefits
Foreign currency exchange rate changes
Balance at December 31	97	134	125
Change in fair value of plan assets
Balance at January 1
Actual return on plan assets
Employer contributions	5	5
Benefit payments	(5)	(5)
Plan settlements
Foreign currency exchange rate changes
Balance at December 31
Funded status (plan assets greater (less) than benefit obligations) at December 31	(97)	(134)
Unrecognized net actuarial (gains) losses	(2)	39
Net amount recognized	$ (99)	$ (95)

Retirement Plans - Funded Status of Pension and Postretirement Medical Plans (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($)
Compensation And Retirement Disclosure [Abstract]
Charge related to plan settlements due to employee retirements	$ 9
After tax charge related to plan settlements due to employee retirements	$ 5

Retirement Plans - Amounts Recognized in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Funded Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension asset / (Accrued benefit liability)	$ 188	$ (347)
Accumulated other comprehensive loss, pre-tax	405	850
Net amount recognized	593	503
Unfunded Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension asset / (Accrued benefit liability)	(253)	(234)
Accumulated other comprehensive loss, pre-tax	108	97
Net amount recognized	(145)	(137)
Postretirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension asset / (Accrued benefit liability)	(97)	(134)
Accumulated other comprehensive loss, pre-tax	(2)	39
Net amount recognized	$ (99)	$ (95)

Retirement Plans - Amounts Recognized in Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Compensation And Retirement Disclosure [Abstract]
After-tax deficit reflected in Accumulated other comprehensive income (loss)	$ 342	$ 639

Retirement Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 73	$ 74	$ 58
Interest cost	89	88	89
Expected return on plan assets	(141)	(116)	(109)
Amortization of unrecognized net actuarial losses	61	83	47
Settlement loss		9
Curtailment loss	1
Special termination benefit recognized	5
Net periodic benefit cost	88	138	85
Postretirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	7	6
Interest cost	3	5	5
Expected return on plan assets
Amortization of unrecognized net actuarial losses	1	2	2
Settlement loss
Curtailment loss
Special termination benefit recognized
Net periodic benefit cost	$ 8	$ 14	$ 13

Retirement Plans - Weighted Average Actuarial Assumptions Used in Calculation of Pension Plans (Detail) - Funded and unfunded pension plans [Member]	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Weighted average assumptions used to determine benefit obligations at December 31
Discount rate	4.60%	3.80%	4.30%
Rate of compensation increase	4.40%	4.30%	4.30%
Weighted average assumptions used to determine net benefit cost for the years ended December 31
Discount rate	4.00%	4.30%	5.30%
Expected return on plan assets	7.50%	7.50%	7.50%
Rate of compensation increase	4.30%	4.30%	4.40%

Retirement Plans - Actuarial Assumptions Used by Corporation's Postretirement Medical Plan (Detail) - Postretirement Medical Plan [Member]	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Assumptions used to determine benefit obligations at December 31
Discount rate	3.60%	3.10%	3.90%
Initial health care trend rate	7.10%	7.30%	8.00%
Ultimate trend rate	4.60%	4.80%	5.00%
Year in which ultimate trend rate is reached	2027	2022	2018

Retirement Plans - Fair Value Based on Level 3 Inputs Held by Institutional Funds (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	$ 1,763
Balance at December 31	2,145	$ 1,763
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	377	317
Actual return on plan assets held at end of year	39	19
Purchases, sales or other settlements	14	42
Net transfers in (out) of Level 3		(1)
Balance at December 31	430	377
Fixed Income [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	2	4
Actual return on plan assets held at end of year
Purchases, sales or other settlements	1	(1)
Net transfers in (out) of Level 3		(1)
Balance at December 31	3	2
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	255
Balance at December 31	291	255
Hedge Funds [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	255	211
Actual return on plan assets held at end of year	26	13
Purchases, sales or other settlements	10	31
Net transfers in (out) of Level 3
Balance at December 31	291	255
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	75
Balance at December 31	89	75
Private Equity Funds [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	75	58
Actual return on plan assets held at end of year	11	5
Purchases, sales or other settlements	3	12
Net transfers in (out) of Level 3
Balance at December 31	89	75
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	54
Balance at December 31	57	54
Real Estate Funds [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance at January 1	45	44
Actual return on plan assets held at end of year	2	1
Purchases, sales or other settlements
Net transfers in (out) of Level 3
Balance at December 31	$ 47	$ 45

Retirement Plans - Estimated Future Benefit Payments for Funded and Unfunded Pension Plans and Postretirement Medical Plan (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Compensation And Retirement Disclosure [Abstract]
2014	$ 162
2015	106
2016	119
2017	110
2018	117
Years 2019 to 2023	$ 649

Income Taxes - Provision (Benefit) for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Examination [Line Items]
United States Federal, Current	$ 8	$ 30	$ 202
United States Federal, Deferred	67	(419)	(653)
Foreign, Current	941	2,019	1,185
Foreign, Deferred	187	(220)	(60)
Total Foreign Income Tax provision	1,128	1,799	1,125
Total provision before adjustment	1,207	1,444	680
Adjustment of deferred taxes for foreign income tax law changes	(682)	115	29
Provision (benefit) for income taxes	525	1,559	709
State [Member]
Income Tax Examination [Line Items]
Provision (benefit) for income taxes	4	34	6
Federal and State [Member]
Income Tax Examination [Line Items]
Provision (benefit) for income taxes	$ 79	$ (355)	$ (445)

Income Taxes - Provision (Benefit) for Income Taxes from Continuing Operations (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Denmark [Member]
Income Tax Examination [Line Items]
Effect of hydrocarbon income tax law change	$ 674
Norway [Member]
Income Tax Examination [Line Items]
Effect of change in hydrocarbon and base corporate income tax rates	$ 8

Income Taxes - Income From Continuing Operations Before Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
United States	$ 473	$ (520)	$ 14
Foreign	4,020	3,946	2,226
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$ 4,493	$ 3,426	$ 2,240

Income Taxes - Components of Deferred Tax Liabilities and Deferred Tax Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Deferred tax liabilities
Property, plant and equipment	$ (5,581)	$ (5,345)
Other	(155)	(105)
Total deferred tax liabilities	(5,736)	(5,450)
Deferred tax assets
Net operating loss carryforwards	2,726	1,985
Tax credit carryforwards	161	373
Property, plant and equipment and investments	2,643	2,796
Accrued compensation, deferred credits and other liabilities	982	976
Asset retirement obligations	1,516	1,340
Other	216	313
Total deferred tax assets	8,244	7,783
Valuation allowances	(1,519)	(1,282)
Total deferred tax assets, net of valuation allowances	6,725	6,501
Net deferred tax assets	$ 989	$ 1,051

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Examination [Line Items]
Gross deferred assets	$ 2,726
Alternative minimum tax credit carryforwards	110
Other business credit carryforwards	1
Foreign tax credit carryforwards	$ 50
Year in which foreign tax credit carryforwards begin to expire	2016
Net deferred tax liability	$ 2,292	$ 2,662
Unrecognized tax benefits that would impact effective income tax rate	$ 503
Number of months impacting effective income tax rate if unrecognized tax benefits are recognized	12 months
The low end of the range of potential unrecognized tax benefits reasonably possible to be reduced by settlements or lapses of statutes of limitation	$ 15
The High end of the range of potential unrecognized tax benefits reasonably possible to be reduced by settlements or lapses of statutes of limitation	25
Accrued interest and penalties	52	60
Undistributed earnings from foreign subsidiaries expected to be indefinitely reinvested in foreign operations	7,500
Approximate amount of deferred tax liability that would be recognized if foreign operations earnings are not indefinitely reinvested	2,600
Income taxes paid (net of refunds)	1,353	$ 1,822	$ 1,384
Assets Held for Sale [Member] \| Thailand and Indonesia Subsidiaries [Member]
Income Tax Examination [Line Items]
Net deferred tax liability	157
Foreign Jurisdictions [Member]
Income Tax Examination [Line Items]
Gross deferred assets	$ 2,390
Year in which operating losses begin to expire	2020
Gross deferred assets net of valuation allowance	$ 1,704
U.S. Federal [Member]
Income Tax Examination [Line Items]
Gross deferred assets	$ 71
Year in which operating losses begin to expire	2020
State [Member]
Income Tax Examination [Line Items]
Gross deferred assets	$ 265
Year in which operating losses begin to expire	2014

Income Taxes - Deferred Tax Assets and Liabilities, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Other current assets	$ 963	$ 596
Deferred income taxes (long-term asset)	2,319	3,126
Accrued liabilities	(1)	(9)
Deferred income taxes (long-term liability)	(2,292)	(2,662)
Net deferred tax assets	$ 989	$ 1,051

Income Taxes - Difference Between Corporation's Effective Income Tax Rate from Continuing Operations and U.S. Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
U.S. statutory rate	35.00%	35.00%	35.00%
Effect of foreign operations	7.20%	12.50%	(4.10%)
State income taxes, net of Federal income tax	0.10%	0.60%	0.10%
Change in enacted tax laws	(15.20%)	3.30%	1.30%
Gains on asset sales, net	(16.00%)	(5.30%)	(5.50%)
Effect of equity loss and operations related to HOVENSA L.L.C.			3.10%
Other	0.60%	(0.60%)	1.80%
Total	11.70%	45.50%	31.70%

Income Taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Balance at January 1	$ 523	$ 415
Additions based on tax positions taken in the current year	161	132
Additions based on tax positions of prior years	2	45
Reductions based on tax positions of prior years	(96)	(33)
Reductions due to settlements with taxing authorities	(19)	(30)
Reductions due to lapses in statutes of limitation	(1)	(6)
Balance at December 31	$ 570	$ 523

Outstanding and Weighted Average Common Shares - Changes in Corporation's Outstanding Common Shares (Detail) - shares	5 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Earnings Per Share [Abstract]
Balance at January 1		341,527,617	340,000,000	337,700,000
Activity related to restricted common stock awards, net		800,000	1,300,000	600,000
Stock options exercised		2,300,000	200,000	1,700,000
Shares repurchased	(19,300,000)	(19,300,000)
Balance at December 31	325,314,177	325,314,177	341,527,617	340,000,000

Outstanding and Weighted Average Common Shares - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Earnings Per Share [Abstract]
Income from continuing operations, net of income taxes	$ 3,968	$ 1,867	$ 1,531
Less: Net income (loss) attributable to noncontrolling interests	170	38	(27)
Net income from continuing operations attributable to Hess Corporation	3,798	1,829	1,558
INCOME FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	1,254	196	145
NET INCOME ATTRIBUTABLE TO HESS CORPORATION	$ 5,052	$ 2,025	$ 1,703
Weighted average common shares outstanding:
Basic	336.6	338.4	336.9
Effect of dilutive securities
Restricted common stock	1.4	1.1	1.4
Stock options	1.7	0.8	1.6
Performance share units	1.2
Diluted	340.9	340.3	339.9
BASIC:
Continuing operations	$ 11.28	$ 5.40	$ 4.62
Discontinued operations	3.73	0.58	0.43
Net income per share	15.01	5.98	5.05
DILUTED:
Continuing operations	11.14	5.37	4.58
Discontinued operations	3.68	0.58	0.43
Net income per share	$ 14.82	$ 5.95	$ 5.01

Outstanding and Weighted Average Common Shares - Additional Information (Detail) - $ / shares	3 Months Ended												12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out-of-the-money stock options													4,400,000	9,200,000	3,500,000
Cash dividends on common stock	$ 0.25	$ 0.25	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.70	$ 0.40	$ 0.40
Performance Share Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Out-of-the-money stock options														414,175

Share Repurchase Plan - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	5 Months Ended	12 Months Ended
	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
Equity [Abstract]
Repurchase of outstanding common stock	$ 4,000
Number of shares purchased		19.3	19.3
Shares purchased value		$ 1,540	$ 1,538
Shares average cost		$ 79.65
Additional amount of common stock that may be repurchased under this board authorized plan			$ 2,460

Leased Assets - Future Minimum Rental Payments (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Leases [Abstract]
2014	$ 805
2015	530
2016	126
2017	122
2018	106
Remaining years	843
Total minimum lease payments	2,532
Less: Income from subleases	54
Net minimum lease payments	$ 2,478

Leased Assets - Rental Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Leases [Abstract]
Total rental expense	$ 355	$ 375	$ 348
Less: Income from subleases	15	15	12
Net rental expense	$ 340	$ 360	$ 336

Guarantees and Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2013 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Contingent liability associated with letters of credit	$ 117

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2013 Segment
Segment Reporting [Abstract]
Number of operating segments for the Corporation	2

Segment Information - Financial Data by Operating Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Operating revenues	$ 22,284	$ 23,381	$ 21,451
Net income (loss) from continuing operations attributable to Hess Corporation	3,798	1,829	1,558
Loss from equity investment in HOVENSA L.L.C.			(1,073)
Interest expense	406	419	383
Depreciation, depletion and amortization	2,770	2,922	2,373
Asset impairments	289	582	358
Provision (benefit) for income taxes	525	1,559	709
Investments in affiliates	687	443	384
Identifiable assets	41,446	40,368	35,794
Capital employed	31,386	27,956	23,765
Capital expenditures	5,840	7,743	6,941
Exploration and Production [Member]
Segment Reporting Information [Line Items]
Asset impairments		582
Continuing Operations [Member] \| Exploration and Production [Member]
Segment Reporting Information [Line Items]
Operating revenues	11,905	12,245	10,646
Net income (loss) from continuing operations attributable to Hess Corporation	4,303	2,212	2,675
Loss from equity investment in HOVENSA L.L.C.
Interest expense
Depreciation, depletion and amortization	2,671	2,853	2,305
Asset impairments	289	582	358
Provision (benefit) for income taxes	831	1,793	1,313
Investments in affiliates	109	75	97
Identifiable assets	37,863	37,687	32,323
Capital employed	27,850	26,339	22,699
Capital expenditures	5,709	7,676	6,888
Continuing Operations [Member] \| Retail Marketing and Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	10,379	11,136	10,805
Net income (loss) from continuing operations attributable to Hess Corporation	(65)	35	(729)
Loss from equity investment in HOVENSA L.L.C.			(1,073)
Interest expense
Depreciation, depletion and amortization	84	56	55
Asset impairments
Provision (benefit) for income taxes	(39)	29	(349)
Investments in affiliates	578	368	287
Identifiable assets	2,644	2,066	2,960
Capital employed	1,597	1,212	1,453
Capital expenditures	73	61	50
Continuing Operations [Member] \| Corporate [Member]
Segment Reporting Information [Line Items]
Operating revenues
Net income (loss) from continuing operations attributable to Hess Corporation	(440)	(418)	(388)
Loss from equity investment in HOVENSA L.L.C.
Interest expense	406	419	383
Depreciation, depletion and amortization	15	13	13
Asset impairments
Provision (benefit) for income taxes	(267)	(263)	(255)
Investments in affiliates
Identifiable assets	939	615	511
Capital employed	1,939	405	(387)
Capital expenditures	$ 58	$ 6	$ 3

Segment Information - Financial Data by Operating Segment (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting [Abstract]
Excise and similar taxes	$ 1,230	$ 1,530	$ 1,450

Segment Information - Financial Information by Major Geographic Area (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Operating revenues	$ 22,284	$ 23,381	$ 21,451
Property, plant and equipment (net)	28,766	28,478	24,386
United States [Member]
Segment Reporting Information [Line Items]
Operating revenues	16,589	16,588	14,916
Property, plant and equipment (net)	16,082	13,914	11,172
Europe [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,336	2,530	3,137
Property, plant and equipment (net)	7,475	8,172	6,826
Africa [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,736	2,484	1,782
Property, plant and equipment (net)	2,310	2,517	2,355
Asia and Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,623	1,779	1,616
Property, plant and equipment (net)	$ 2,899	$ 3,875	$ 4,033

Segment Information - Financial Information by Major Geographic Area (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Property, plant and equipment - net	$ 28,771	$ 28,807
Norway [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment - net	$ 6,348	$ 6,426	$ 5,031

Related Party Transactions - Related Party Transactions (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
HOVENSA [Member]
Related Party Transaction
Purchases		$ 145	$ 3,806
Sales	90	191	710
Bayonne Energy Center LLC [Member]
Related Party Transaction
Purchases	38	20
WilcoHess [Member]
Related Party Transaction
Sales	$ 2,828	$ 3,058	$ 2,898

Related Party Transactions - Related Party Transactions (Parenthetical) (Detail)	Dec. 31, 2013	Dec. 31, 2012
Bayonne Energy Center LLC [Member]
Related Party Transaction [Line Items]
Purchases of electricity from joint venture owned	50.00%	50.00%

Related Party Transactions - Corporation's Related Party Accounts Receivable (Payable) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
WilcoHess [Member]
Related Party Transaction [Line Items]
Accounts receivable (payable) with related parties	$ 114	$ 119
Bayonne Energy Center LLC [Member]
Related Party Transaction [Line Items]
Accounts receivable (payable) with related parties	$ (4)	$ (3)

Risk Management and Trading Activities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013
Trading Partnership [Member]
Derivative [Line Items]
Voting interest in trading partnership	50.00%

Risk Management and Trading Activities - Gross Volumes of Corporation's Derivative Contracts Outstanding (Detail) shares in Millions, $ in Millions	Dec. 31, 2013 USD ($) MMBbls MMcf MMWh shares	Dec. 31, 2012 USD ($) MMBbls MMcf MMWh shares
Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount	$ 865	$ 880
Gross volumes of the Corporate risk management derivative instruments outstanding [Member] \| Foreign exchange [Member]
Derivative [Line Items]
Derivative notional amount	220	1,285
Gross volumes of the Corporate risk management derivative instruments outstanding [Member] \| Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount	$ 865	$ 880
Gross volumes of the Corporate risk management derivative instruments outstanding [Member] \| Commodity, primarily crude oil (millions of barrels) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMBbls	9	1
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Foreign exchange [Member]
Derivative [Line Items]
Derivative notional amount	$ 52	$ 412
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount		$ 167
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Crude oil and refined petroleum products (millions of barrels) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMBbls	1,815	1,179
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Natural gas (millions of mcf) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMcf	2,735	3,377
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Electricity (millions of megawatt hours) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMWh	1	19
Gross volumes of derivative contracts outstanding relating to trading activities [Member] \| Equity securities (millions of shares) [Member]
Derivative [Line Items]
Equity securities (millions of shares) \| shares	11	14
Gross volumes of energy marketing derivative contracts outstanding, including delayed derivative transfer contracts outstanding [Member] \| Crude oil and refined petroleum products (millions of barrels) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMBbls	19	26
Gross volumes of energy marketing derivative contracts outstanding, including delayed derivative transfer contracts outstanding [Member] \| Natural gas (millions of mcf) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMcf	3,325	2,938
Gross volumes of energy marketing derivative contracts outstanding, including delayed derivative transfer contracts outstanding [Member] \| Electricity (millions of megawatt hours) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts \| MMWh	258	278

Risk Management and Trading Activities - Corporate Risk Management Activities - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2008 BOPD	Dec. 31, 2014 BOPD $ / bbl	Dec. 31, 2013 USD ($) BOPD $ / bbl	Dec. 31, 2012 USD ($) BOPD $ / bbl	Dec. 31, 2011 USD ($)
Derivative [Line Items]
Total number of barrels per day hedged based on new Brent crude oil cash flow hedges \| BOPD			90,000	120,000
Average price per barrel \| $ / bbl			109.70	107.70
Number of barrels per day hedged crude oil that realized hedge losses \| BOPD	24,000
Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount			$ 865	$ 880
New Brent Crude Hedges [Member]
Derivative [Line Items]
Change in the carrying value of the hedged fixed-rate debt - increase/(decrease)			(35)	12
Change in the fair value of interest rate swaps - increase/(decrease)			(35)	12
Corporate Risk Management [Member] \| Closed & New Brent Crude Hedges [Member]
Derivative [Line Items]
After-tax deferred gains in Accumulated other comprehensive income (loss)			5
Corporate Risk Management [Member] \| New Brent Crude Hedges [Member]
Derivative [Line Items]
Gain (loss) on ineffectiveness reflected in earnings				(9)	$ 9
Sales and other operating revenues [Member]
Derivative [Line Items]
Realized gains (losses) from E&P hedging activities due to the increase (decrease) in sales and other operating revenue			39	688	517
Realized gains (losses) from E&P hedging activities net of income taxes			$ 25	$ 431	$ 327
Scenario Forecast [Member]
Derivative [Line Items]
Total number of barrels per day hedged based on new Brent crude oil cash flow hedges \| BOPD		25,000
Average price per barrel \| $ / bbl		109.12

Risk Management and Trading Activities - Net Realized and Unrealized Pre-Tax Gains (Losses) on Derivative Contracts Used in Corporate Risk Management Activities and Not Designated As Hedges (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges	$ (39)	$ 44	$ (14)
Commodity [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges		1	1
Foreign exchange [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges	$ (39)	$ 43	$ (15)

Risk Management and Trading Activities - Energy Marketing Risk Management Activities - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative [Line Items]
Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges	$ (39)	$ 44	$ (14)
Energy Marketing Risk Management [Member]
Derivative [Line Items]
After-tax deferred losses in Accumulated other comprehensive income (loss)	0	22
Energy Marketing Risk Management [Member] \| Not designated as hedges [Member]
Derivative [Line Items]
Net realized and unrealized pre-tax gains (losses) on derivative contracts used in Corporate Risk Management activities and not designated as hedges	$ 22	$ 127	$ 65

Risk Management and Trading Activities - Trading Activities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013
Derivative [Line Items]
Percentage of information disclosed for trading partnership	100.00%
Trading Partnership [Member]
Derivative [Line Items]
Voting interest in trading partnership	50.00%

Risk Management and Trading Activities - Pre-Tax Unrealized and Realized Gains (Losses) from Trading Activities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax unrealized and realized gains (losses) from trading activities	$ 79	$ 117	$ 16
Commodity [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax unrealized and realized gains (losses) from trading activities	78	104	44
Foreign exchange [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax unrealized and realized gains (losses) from trading activities		3
Other [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-tax unrealized and realized gains (losses) from trading activities	$ 1	$ 10	$ (28)

Risk Management and Trading Activities - Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Gross Amounts, Assets	$ 3,137	$ 3,353
Physical Derivative and Financial Instruments, Assets	(2,083)	(2,750)
Cash Collateral, Assets	(79)	(34)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	975	569
Gross Amounts Not Offset in the Consolidated Balance Sheet, Assets	(44)	(51)
Net Amounts, Assets	931	518
Gross Amounts, Liabilities	(3,224)	(3,322)
Physical Derivative and Financial Instruments, Liabilities	2,083	2,750
Cash Collateral, Liabilities	168	5
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(973)	(567)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities	44	51
Net Amounts, Liabilities	(929)	(516)
Commodity [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts, Assets	3,086	3,253
Physical Derivative and Financial Instruments, Assets	(1,867)	(2,661)
Cash Collateral, Assets	(79)	(34)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	1,140	558
Gross Amounts Not Offset in the Consolidated Balance Sheet, Assets	(41)	(45)
Net Amounts, Assets	1,099	513
Gross Amounts, Liabilities	(3,212)	(3,312)
Physical Derivative and Financial Instruments, Liabilities	1,867	2,661
Cash Collateral, Liabilities	168	5
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(1,177)	(646)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities	41	45
Net Amounts, Liabilities	(1,136)	(601)
Interest rate and other [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts, Assets	51	100
Physical Derivative and Financial Instruments, Assets	(10)	(8)
Cash Collateral, Assets
Net Amounts Presented in the Consolidated Balance Sheet, Assets	41	92
Gross Amounts Not Offset in the Consolidated Balance Sheet, Assets	(3)	(6)
Net Amounts, Assets	38	86
Gross Amounts, Liabilities	(12)
Physical Derivative and Financial Instruments, Liabilities	10
Cash Collateral, Liabilities
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(2)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities	3
Net Amounts, Liabilities	1
Counterparty Netting [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts, Assets
Physical Derivative and Financial Instruments, Assets	(206)	(81)
Cash Collateral, Assets
Net Amounts Presented in the Consolidated Balance Sheet, Assets	(206)	(81)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Assets
Net Amounts, Assets	(206)	(81)
Gross Amounts, Liabilities
Physical Derivative and Financial Instruments, Liabilities	206	81
Cash Collateral, Liabilities
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	206	81
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities
Net Amounts, Liabilities	$ 206	81
Other [Member]
Derivatives, Fair Value [Line Items]
Gross Amounts, Liabilities		(10)
Physical Derivative and Financial Instruments, Liabilities		8
Cash Collateral, Liabilities
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities		(2)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities		6
Net Amounts, Liabilities		$ 4

Risk Management and Trading Activities - Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Derivative [Line Items]
Total net derivative contract assets	$ 931	$ 518
Total net derivative contract liabilities	929	516
Discontinued Operations [Member]
Derivative [Line Items]
Total net derivative contract assets	612	378
Total net derivative contract liabilities	$ 620	$ 376

Risk Management and Trading Activities - Gross and Net Fair Values of Corporate and Energy Marketing Risk Management and Trading Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Cash collateral (received) posted	$ 31	$ 0
Accounts Receivable [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	47	137
Derivative contracts not designated as hedging instruments	3,090	3,216
Gross fair value of derivative contracts	3,137	3,353
Master netting arrangements	(2,083)	(2,750)
Cash collateral (received) posted	(79)	(34)
Net fair value of derivative contracts	975	569
Accounts Receivable [Member] \| Commodity [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	11	65
Derivative contracts not designated as hedging instruments	3,075	3,188
Accounts Receivable [Member] \| Interest rate and other [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	36	72
Accounts Receivable [Member] \| Foreign exchange [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	2	14
Accounts Receivable [Member] \| Other [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	13	14
Accounts Payable [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	(4)	(126)
Derivative contracts not designated as hedging instruments	(3,220)	(3,196)
Gross fair value of derivative contracts	(3,224)	(3,322)
Master netting arrangements	2,083	2,750
Cash collateral (received) posted	168	5
Net fair value of derivative contracts	(973)	(567)
Accounts Payable [Member] \| Commodity [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	(3)	(124)
Derivative contracts not designated as hedging instruments	(3,209)	(3,188)
Accounts Payable [Member] \| Interest rate and other [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts designated as hedging instruments	(1)	(2)
Accounts Payable [Member] \| Foreign exchange [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	(3)
Accounts Payable [Member] \| Other [Member]
Derivatives, Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	$ (8)	$ (8)

Risk Management and Trading Activities - Fair Values for Corporation's Net Physical Derivative Financial Assets and (Liabilities) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Assets
Total derivative contracts (Assets)	$ 494	$ 243
Net derivative contracts (Assets)	975	569
Other assets measured at fair value on a recurring basis		52
Total assets measured at fair value on a recurring basis	975	621
Liabilities
Total derivative contracts (Liabilities)	(285)	(101)
Net derivative contracts (Liabilities)	(973)	(567)
Other liabilities measured at fair value on a recurring basis	(31)	(42)
Total liabilities measured at fair value on a recurring basis	(1,004)	(609)
Other fair value measurement disclosures Long-term debt	(6,641)	(8,887)
Commodity [Member]
Assets
Total derivative contracts (Assets)	1,140	558
Liabilities
Total derivative contracts (Liabilities)	(1,177)	(646)
Interest rate and other [Member]
Assets
Total derivative contracts (Assets)	41	92
Net derivative contracts (Assets)	41	92
Liabilities
Net derivative contracts (Liabilities)	(2)
Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)	(206)	(81)
Liabilities
Net derivative contracts (Liabilities)	206	81
Other [Member]
Liabilities
Total derivative contracts (Liabilities)	(2)	(2)
Level 1 [Member]
Assets
Net derivative contracts (Assets)	241	77
Other assets measured at fair value on a recurring basis		5
Total assets measured at fair value on a recurring basis	241	82
Liabilities
Net derivative contracts (Liabilities)	(82)	(61)
Other liabilities measured at fair value on a recurring basis	(31)	(40)
Total liabilities measured at fair value on a recurring basis	(113)	(101)
Other fair value measurement disclosures Long-term debt
Level 1 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	254	94
Liabilities
Total derivative contracts (Liabilities)	(97)	(83)
Level 1 [Member] \| Interest rate and other [Member]
Assets
Total derivative contracts (Assets)	2	6
Level 1 [Member] \| Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)	(15)	(23)
Liabilities
Net derivative contracts (Liabilities)	15	23
Level 1 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilities)		(1)
Level 2 [Member]
Assets
Net derivative contracts (Assets)	425	477
Other assets measured at fair value on a recurring basis		49
Total assets measured at fair value on a recurring basis	425	526
Liabilities
Net derivative contracts (Liabilities)	(883)	(605)
Other liabilities measured at fair value on a recurring basis		(2)
Total liabilities measured at fair value on a recurring basis	(883)	(607)
Other fair value measurement disclosures Long-term debt	(6,641)	(8,887)
Level 2 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	579	445
Liabilities
Total derivative contracts (Liabilities)	(1,071)	(657)
Level 2 [Member] \| Interest rate and other [Member]
Assets
Total derivative contracts (Assets)	37	86
Level 2 [Member] \| Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)	(191)	(54)
Liabilities
Net derivative contracts (Liabilities)	191	54
Level 2 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilities)	(3)	(2)
Level 3 [Member]
Assets
Net derivative contracts (Assets)	497	240
Other assets measured at fair value on a recurring basis
Total assets measured at fair value on a recurring basis	497	240
Liabilities
Net derivative contracts (Liabilities)	(285)	(97)
Other liabilities measured at fair value on a recurring basis		(2)
Total liabilities measured at fair value on a recurring basis	(285)	(99)
Other fair value measurement disclosures Long-term debt
Level 3 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	494	243
Liabilities
Total derivative contracts (Liabilities)	(285)	(101)
Level 3 [Member] \| Interest rate and other [Member]
Assets
Total derivative contracts (Assets)	3	1
Level 3 [Member] \| Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)		(4)
Liabilities
Net derivative contracts (Liabilities)		4
Level 3 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilities)
Counterparty Netting [Member]
Assets
Net derivative contracts (Assets)	(109)	(191)
Other assets measured at fair value on a recurring basis		(2)
Total assets measured at fair value on a recurring basis	(109)	(193)
Liabilities
Net derivative contracts (Liabilities)	109	191
Other liabilities measured at fair value on a recurring basis		2
Total liabilities measured at fair value on a recurring basis	109	193
Other fair value measurement disclosures Long-term debt
Counterparty Netting [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	(108)	(190)
Liabilities
Total derivative contracts (Liabilities)	108	190
Counterparty Netting [Member] \| Interest rate and other [Member]
Assets
Total derivative contracts (Assets)	(1)	(1)
Counterparty Netting [Member] \| Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)
Liabilities
Net derivative contracts (Liabilities)
Counterparty Netting [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilities)	1	1
Collateral [Member]
Assets
Net derivative contracts (Assets)	(79)	(34)
Other assets measured at fair value on a recurring basis
Total assets measured at fair value on a recurring basis	(79)	(34)
Liabilities
Net derivative contracts (Liabilities)	168	5
Other liabilities measured at fair value on a recurring basis
Total liabilities measured at fair value on a recurring basis	168	5
Other fair value measurement disclosures Long-term debt
Collateral [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	(79)	(34)
Liabilities
Total derivative contracts (Liabilities)	168	5
Collateral [Member] \| Interest rate and other [Member]
Assets
Total derivative contracts (Assets)
Collateral [Member] \| Collateral and counterparty netting [Member]
Assets
Net derivative contracts (Assets)
Liabilities
Net derivative contracts (Liabilities)
Collateral [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilities)

Risk Management and Trading Activities - Fair Values for Corporation's Net Physical Derivative Financial Assets and (Liabilities) (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	$ 975	$ 621
Total liabilities measured at fair value on a recurring basis	1,004	609
Long-term debt including current maturities	5,798	7,361
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	241	82
Total liabilities measured at fair value on a recurring basis	113	101
Level 1 [Member] \| Continuing Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	239
Total liabilities measured at fair value on a recurring basis	79
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	425	526
Total liabilities measured at fair value on a recurring basis	883	607
Level 2 [Member] \| Continuing Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	180
Total liabilities measured at fair value on a recurring basis	447
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	497	240
Total liabilities measured at fair value on a recurring basis	285	$ 99
Level 3 [Member] \| Continuing Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a recurring basis	51
Total liabilities measured at fair value on a recurring basis	$ 32

Risk Management and Trading Activities - Net Transfers into and out of Each Level of Fair Value Hierarchy (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurements net transfers in	$ 3	$ 251
Fair value measurements net transfers out	76	210
Fair value measurements net transfers into/out of	79	461
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurements net transfers in	(113)	(234)
Fair value measurements net transfers out	88	(293)
Fair value measurements net transfers into/out of	(25)	(527)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurements net transfers in	(85)	99
Fair value measurements net transfers out	31	(33)
Fair value measurements net transfers into/out of	$ (54)	$ 66

Risk Management and Trading Activities - Changes in Physical Derivatives and Financial Assets and (Liabilities) that are Measured at Fair Value Based on Level 3 Inputs (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Balance at beginning of period	$ 141	$ (143)
Unrealized pre-tax gains (losses), Included in earnings	175	(78)
Unrealized pre-tax gains (losses), Included in other comprehensive income (loss)		44
Purchases	45	247
Sales	(34)	(266)
Settlements	(61)	271
Transfers into Level 3	(85)	99
Transfers out of Level 3	31	(33)
Balance at end of period	$ 212	$ 141

Risk Management and Trading Activities - Commodity Contracts with a Fair Value (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Total derivative contracts (Assets)	$ 494	$ 243
Total derivatives contract (liabilities)	$ 285	$ 101

Risk Management and Trading Activities - Credit Risk - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Cash held from counterparties	$ 79	$ 34
Cash posted to counterparties	168	5
Outstanding letters of credit	410	746
Cash collateral (received) posted	31	0
Additional collateral	134	275
Discontinued Operations [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Outstanding letters of credit	196	357
Net liability related to derivatives with contingent collateral provisions	$ 281	$ 435
Integrated Oil Companies [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade	45.00%	23.00%
Refiners [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade	18.00%	15.00%
Financial Institutions [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade	14.00%
Government Entities [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade	8.00%	11.00%
Trading Companies [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade	7.00%
Real Estate Funds [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade		8.00%
Services [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade		8.00%
Manufacturing [Member]
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Accounts receivable - Trade		6.00%

Subsequent Events - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2014 USD ($) a	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Subsequent Events [Line Items]
Cash proceeds on sale of interests		$ 4,458	$ 843	$ 490
Subsequent Events [Member] \| Pangkah [Member]
Subsequent Events [Line Items]
Cash proceeds on sale of interests	$ 650
Subsequent Events [Member] \| Utica Shale play [Member]
Subsequent Events [Line Items]
Cash proceeds on sale of interests	$ 924
Number of acres sold of dry gas position \| a	74,000
Subsequent Events [Member] \| WilcoHess [Member]
Subsequent Events [Line Items]
Percentage of equity interest	56.00%
Cash consideration to acquire equity interest	$ 290

Schedule - VALUATION AND QUALIFYING ACCOUNTS (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Losses on receivables [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning Balance	$ 34	$ 55	$ 58
Charged to Costs and Expenses	10		4
Charged to Other Accounts			1
Deductions from Reserves	17	21	8
Ending Balance	27	34	55
Deferred income tax valuation [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Beginning Balance	1,282	1,071	444
Charged to Costs and Expenses	383	248	648
Charged to Other Accounts	(17)
Deductions from Reserves	129	37	21
Ending Balance	$ 1,519	$ 1,282	$ 1,071

Retirement Plans - Fair Value of Plan's Financial Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	$ 2,145	$ 1,763
Cash and Short-term Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	75	39
U.S. Equities (domestic) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	729	534
International Equities (non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	252	209
Global Equities (domestic and non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	216	179
Treasury and Government Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	170	186
Government Related [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	9	8
Mortgage-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	110	96
Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	127	111
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	291	255
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	89	75
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	57	54
Diversified Commodities Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	20	17
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	833	612
Level 1 [Member] \| Cash and Short-term Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	3	2
Level 1 [Member] \| U.S. Equities (domestic) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	729	534
Level 1 [Member] \| International Equities (non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	81	61
Level 1 [Member] \| Global Equities (domestic and non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	8	5
Level 1 [Member] \| Treasury and Government Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 1 [Member] \| Government Related [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 1 [Member] \| Mortgage-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 1 [Member] \| Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	2	1
Level 1 [Member] \| Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 1 [Member] \| Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 1 [Member] \| Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	10	9
Level 1 [Member] \| Diversified Commodities Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	882	774
Level 2 [Member] \| Cash and Short-term Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	72	37
Level 2 [Member] \| U.S. Equities (domestic) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 2 [Member] \| International Equities (non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	171	148
Level 2 [Member] \| Global Equities (domestic and non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	208	174
Level 2 [Member] \| Treasury and Government Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	169	184
Level 2 [Member] \| Government Related [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	9	8
Level 2 [Member] \| Mortgage-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	109	96
Level 2 [Member] \| Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	124	110
Level 2 [Member] \| Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 2 [Member] \| Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 2 [Member] \| Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 2 [Member] \| Diversified Commodities Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	20	17
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	430	377	$ 317
Level 3 [Member] \| Cash and Short-term Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 3 [Member] \| U.S. Equities (domestic) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 3 [Member] \| International Equities (non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 3 [Member] \| Global Equities (domestic and non-U.S.) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 3 [Member] \| Treasury and Government Issued [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	1	2
Level 3 [Member] \| Government Related [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets
Level 3 [Member] \| Mortgage-backed Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	1
Level 3 [Member] \| Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	1
Level 3 [Member] \| Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	291	255	211
Level 3 [Member] \| Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	89	75	58
Level 3 [Member] \| Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets	47	45	$ 44
Level 3 [Member] \| Diversified Commodities Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan's financial assets

Risk Management and Trading Activities - Commodity Contracts with a Fair Value (Detail)	Dec. 31, 2013 $ / MWh $ / bbl $ / MMBTU	Dec. 31, 2012 $ / MWh $ / bbl $ / MMBTU
Minimum [Member] \| Contract prices [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / bbl	78.45	79.35
Range of measurement of liabilities for recurring inputs \| $ / bbl	57.45	83.49
Minimum [Member] \| Contract prices [Member] \| Electricity [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MWh	19.52	23.37
Range of measurement of liabilities for recurring inputs \| $ / MWh	26.48	25.01
Minimum [Member] \| Basis prices [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MMBTU	(4.99)	(0.47)
Range of measurement of liabilities for recurring inputs \| $ / MMBTU	(1.90)	(0.72)
Minimum [Member] \| Contract volatilities [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	16.00%	23.00%
Percentage range of measurement of liabilities for recurring inputs	16.00%	24.00%
Minimum [Member] \| Contract volatilities [Member] \| Electricity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	16.00%	18.00%
Percentage range of measurement of liabilities for recurring inputs	16.00%
Minimum [Member] \| Contract volatilities [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of liabilities for recurring inputs	34.00%	21.00%
Minimum [Member] \| Contract volatilities [Member] \| Natural gas [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	17.00%	21.00%
Maximum [Member] \| Contract prices [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / bbl	228.86	144.27
Range of measurement of liabilities for recurring inputs \| $ / bbl	183.89	133.38
Maximum [Member] \| Contract prices [Member] \| Electricity [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MWh	165.75	79.27
Range of measurement of liabilities for recurring inputs \| $ / MWh	155.33	72.60
Maximum [Member] \| Basis prices [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MMBTU	18.10	6.66
Range of measurement of liabilities for recurring inputs \| $ / MMBTU	18.00	6.66
Maximum [Member] \| Contract volatilities [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	18.00%	27.00%
Percentage range of measurement of liabilities for recurring inputs	17.00%	27.00%
Maximum [Member] \| Contract volatilities [Member] \| Electricity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	36.00%	40.00%
Percentage range of measurement of liabilities for recurring inputs	36.00%
Maximum [Member] \| Contract volatilities [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of liabilities for recurring inputs	35.00%	28.00%
Maximum [Member] \| Contract volatilities [Member] \| Natural gas [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	35.00%	36.00%
Weighted Average [Member] \| Contract prices [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / bbl	118.68	113.06
Range of measurement of liabilities for recurring inputs \| $ / bbl	122.54	109.94
Weighted Average [Member] \| Contract prices [Member] \| Electricity [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MWh	45.76	40.81
Range of measurement of liabilities for recurring inputs \| $ / MWh	43.12	40.38
Weighted Average [Member] \| Basis prices [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Range of measurement of assets for recurring inputs \| $ / MMBTU	0.23	0.39
Range of measurement of liabilities for recurring inputs \| $ / MMBTU	(0.62)	1.26
Weighted Average [Member] \| Contract volatilities [Member] \| Crude oil and refined petroleum products [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	17.00%	26.00%
Percentage range of measurement of liabilities for recurring inputs	17.00%	26.00%
Weighted Average [Member] \| Contract volatilities [Member] \| Electricity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	23.00%	28.00%
Percentage range of measurement of liabilities for recurring inputs	22.00%
Weighted Average [Member] \| Contract volatilities [Member] \| Natural gas [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of liabilities for recurring inputs	35.00%	22.00%
Weighted Average [Member] \| Contract volatilities [Member] \| Natural gas [Member] \| Commodity [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage range of measurement of assets for recurring inputs	22.00%	25.00%