While asset sales helped too, the company highlighted the performance of its 50% joint venture Chevron Phillips Chemical Company, which they book under downstream.
The company highlighted productivity improvements and higher volumes in their downstream business, partially offset by higher pension and maintenance costs.
Hess has become the latest large-cap oil company to announce plans to shed its refining and downstream business to focus on high-margin exploration and production.
The company saw profits surge despite falling production and weak downstream operations, and is still dealing with the aftermath of the fatal Gulf of Mexico spill of August 2010.
The third biggest U.S. integrated oil company will separate its upstream oil-and-gas exploration and production division from its downstream refining division.
While the biggest oil and gas company by reserves, Exxon, had a stellar quarter, Chevron suffered from weakness in their downstream margins and took the hit on their profits.