Hess Corporation is a leading global independent energy company, engaged in the exploration and production of crude oil and natural gas, as well as in.. read more refining and in marketing refined petroleum products, natural gas, and electricity. Our vision is to maximize shareholder value by enhancing financial performance and providing long-term profitable growth. We are committed to meeting the highest standards of corporate citizenship by protecting the health and safety of our employees, safeguarding the environment and creating a long-lasting, positive impact on the communities in which we do business.
Exploration and production is the engine of future income and growth, currently representing nearly 70% of capital employed and over 95% of annual capital expenditures. The Company has operations in the United States, United Kingdom, Norway, Denmark, Equatorial Guinea, Gabon, Azerbaijan, Thailand and Indonesia. We continue to increase reserves outside the mature regions of the United States and North Sea.
Our marketing and refining objective is to maximize financial returns from existing assets. The Company operates approximately 1,250 HESS retail facilities from Massachusetts to Florida. We continue to selectively expand our HESS EXPRESS convenience store network. The HOVENSA refinery in the United States Virgin Islands, a joint venture between a subsidiary of Hess Corporation and a subsidiary of Petroleos de Venezuela, S.A. (PDVSA), is one of the largest crude oil refineries in the world. Refined petroleum products, as well as natural gas and electricity, are marketed to customers throughout the East Coast of the United States. This integrated approach to marketing allows the Company to meet the total energy needs of our customer base while maintaining a low-cost operating base.
We have a strong leadership team and a global organization, implementing a focused strategy that is positioning Hess Corporation for long-term financial performance.