Energy Company Hess Agrees to Pay Up to $187 Million to Settle Asbestos Claims
null By Akiko MatsudaDec. 21, 2023 6:07 pm ET|WSJ ProEnergy company Hess has faced asbestos litigation for decades from contractors and employees who worked at the St. Croix oil refinery. Photo: alvin baez/ReutersOil-and-gas company Hess and its bankrupt subsidiary Honx have agreed to pay up to $187 million under a deal to resolve the current and future asbestos claims asserted by the former contractors and employees of an oil refinery in the U.S. Virgin Islands, according to a settlement document filed with the court Thursday. Hess placed Honx, previously known as Hess Oil New York, under chapter 11 bankruptcy in April of last year to drive a settlement of hundreds of personal-injury lawsuits stemming from alleged exposure to asbestos, silica and other toxic substances at the St. Croix oil refinery. The facility was known from its 1966 opening through 1998 as Hovic, when it was owned solely by Hess, and later as Hovensa and then Limetree Bay, according to court papers. Copyright ©202
Oil-and-gas company Hess and its bankrupt subsidiary Honx have agreed to pay up to $187 million under a deal to resolve the current and future asbestos claims asserted by the former contractors and employees of an oil refinery in the U.S. Virgin Islands, according to a settlement document filed with the court Thursday.
Hess placed Honx, previously known as Hess Oil New York, under chapter 11 bankruptcy in April of last year to drive a settlement of hundreds of personal-injury lawsuits stemming from alleged exposure to asbestos, silica and other toxic substances at the St. Croix oil refinery. The facility was known from its 1966 opening through 1998 as Hovic, when it was owned solely by Hess, and later as Hovensa and then Limetree Bay, according to court papers.
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