Exhibit 99(2)

AMERADA HESS CORPORATION 1185 Avenue of the Americas, N.Y., N.Y. 10036

FOR IMMEDIATE RELEASE

AMERADA HESS REPORTS RESULTS FOR THE THIRD QUARTER OF 2003

          New York, New York....October 29, 2003...Amerada Hess Corporation (NYSE: AHC) reported net income of $146 million for the third quarter of 2003 compared with a net loss of $136 million for the third quarter of 2002. Results for the third quarter of 2002 included an after-tax impairment charge of $207 million ($318 million before income taxes). Net income was $574 million in the first nine months of 2003 compared with $153 million in the corresponding period of 2002. The after-tax results by major operating activity for the three and nine month periods ended September 30, 2003 and 2002 were as follows (in millions, except per share amounts):

		Three months ended						Nine months ended
		September 30 (unaudited)						September 30 (unaudited)
		2003			2002(a)			2003			2002(a)
Exploration and production		$	124		$	(116	)	$	331		$	273
Refining and marketing			89			70			272			65
Corporate			(25	)		(23	)		(73	)		(56	)
Interest expense			(42	)		(36	)		(132	)		(127	)
Income (loss) from continuing operations			146			(105	)		398			155
Discontinued operations
	Net gains from asset sales		—			—			116			—
	Income (loss) from operations		—			(31	)		53			(2	)
Income from cumulative effect of accounting change			—			—			7			—
Net income (loss)		$	146		$	(136	)	$	574		$	153
Income (loss) per share from continuing operations (diluted)		$	1.64		$	(1.19	)	$	4.47		$	1.73
Net income (loss) per share (diluted)		$	1.64		$	(1.54	)	$	6.45		$	1.72

                  (a) Reclassified to conform with current period presentation.

          The Corporation’s oil and gas production, on a barrel-of-oil equivalent basis, was 339,000 barrels per day in the third quarter of 2003 compared to 441,000 barrels per day in the third quarter of 2002. Approximately one-half of the decline in production resulted from asset sales in connection with the Corporation’s initiatives to reshape its portfolio of producing properties. In the third quarter of 2003, the Corporation’s average worldwide crude oil selling price, including the effect of hedging, was $24.65 per barrel, a decrease of $1.44 per barrel from the third quarter of 2002. The Corporation’s average United States natural gas selling price, including the effect of hedging, was $3.53 per Mcf in the third quarter of 2003, an increase of $.06 per Mcf from the third quarter of 2002.

          Refining and marketing earnings increased in the third quarter of 2003 compared with the third quarter of 2002 reflecting higher refining margins and increased earnings from retail gasoline station operations. Refining and marketing earnings in the third quarter of 2002 included an after-tax gain of $67 million ($102 million before income taxes) from the sale of six United States flag tankers.

          Corporate expenses in the first nine months of 2003 include $15 million of after-tax expense ($27 million before income taxes) from early repayment of debt. The amount in the corresponding period of 2002 was $4 million ($10 million before income taxes).

          The following items, on an after-tax basis, are included in net income in the third quarter and first nine months of 2003 and 2002 (in millions):

		Three months ended					Nine months ended
		September 30 (unaudited)					September 30 (unaudited)
		2003		2002			2003			2002
United States income tax benefit		$	30	$	—		$	30		$	—
Accrued severance and London office lease costs			—		—			(23	)		—
Asset impairment			—		(207	)		—			(207	)
Gains (losses) from asset sales
	Exploration and production		—		(22	)		31			20
	Refining and marketing		—		67			(20	)		67
Charge for increase in United Kingdom income tax rate			—		(43	)		—			(43	)
Reduction in carrying value of refining and marketing intangible assets and accrued severance			—		—			—			(22	)
		$	30	$	(205	)	$	18		$	(185	)

          The third quarter 2003 income tax benefit of $30 million reflects the recognition for United States income tax purposes of certain prior year foreign exploration expenses.

          Sales and other operating revenues in the third quarter of 2003 amounted to $3,230 million compared with $2,724 million in the third quarter of 2002. Capital expenditures in the third quarter of 2003 amounted to $307 million of which $298 million related to exploration and production activities. Capital expenditures in the third quarter of 2002 amounted to $345 million, including $323 million for exploration and production.

Consolidated Financial Information (unaudited)

		Three months ended					Nine months ended
		September 30					September 30
		2003		2002			2003		2002
				(In millions, except per share amounts)
Sales and other operating revenues		$	3,230	$	2,724		$	10,683	$	8,345
Income (loss) from continuing operations		$	146	$	(105	)	$	398	$	155
Discontinued operations
	Net gains from asset sales		—		—			116		—
	Income (loss) from operations		—		(31	)		53		(2	)
Cumulative effect of accounting change			—		—			7		—
Net income (loss)		$	146	$	(136	)	$	574	$	153
Income (loss) per share from continuing operations (diluted)		$	1.64	$	(1.19	)	$	4.47	$	1.73
Net income (loss) per share (diluted)		$	1.64	$	(1.54	)	$	6.45	$	1.72
Weighted average number of shares			89.1		88.3	(*)		89.1		89.3

(*) Represents basic shares.

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          In the preceding discussion, the financial effects of certain transactions are disclosed on an after-tax basis. Management reviews segment earnings on an after-tax basis and uses after-tax amounts in its review of variances in segment earnings. Such after-tax amounts may be considered to be non-GAAP financial measures. Management believes that they are a preferable method of explaining variances in earnings, since they show the entire effect of a transaction rather than only the pre-tax amount. After-tax amounts are determined by applying the appropriate income tax rate in each tax jurisdiction to pre-tax amounts.

          The following table contains the pre-tax amounts of items included in net income which are shown on an after-tax basis above (in millions):

		Three months ended					Nine months ended
		September 30 (unaudited)					September 30 (unaudited)
		2003		2002			2003			2002
United States income tax benefit		$	—	$	—		$	—		$	—
Accrued severance and London office lease costs			—		—			(38	)		—
Asset impairment			—		(318	)		—			(318	)
Gains (losses) from asset sales
	Exploration and production		—		(35	)		47			27
	Refining and marketing		—		102			(9	)		102
Charge for increase in United Kingdom income tax rate			—		—			—			—
Reduction in carrying value of refining and marketing intangible assets and accrued severance			—		—			—			(35	)
		$	—	$	(251	)	$	—		$	(224	)

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AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)

							Third			Third			Second
Line							Quarter			Quarter			Quarter
No.							2003			2002 (*)			2003
							(A)			(B)			(C)
		Income Statement
			Revenues and Non-operating Income
	1			Sales and other operating revenues			$	3,230		$	2,724		$	3,199
				Non-operating income
	2				Gain (loss) on asset sales			—			68			(9	)
	3				Equity in income (loss) of HOVENSA L.L.C.			43			(6	)		15
	4				Other			23			12			8
	5					Total revenues and non-operating income		3,296			2,798			3,213
			Costs and Expenses
	6			Cost of products sold				2,194			1,650			2,140
	7			Production expenses				207			197			191
	8			Marketing expenses				171			144			167
	9			Exploration expenses, including dry holes and lease impairment				59			103			88
	10			Other operating expenses				44			40			49
	11			General and administrative expenses				70			70			106
	12			Interest expense				73			61			77
	13			Depreciation, depletion and amortization				253			274			270
	14			Asset impairment				—			318			—
	15					Total costs and expenses		3,071			2,857			3,088
	16			Income (loss) from continuing operations before income taxes				225			(59	)		125
	17			Provision for income taxes				79			46			62
	18			Income (loss) from continuing operations				146			(105	)		63
				Discontinued operations
	19				Net gain from asset sales			—			—			175
	20				Income (loss) from operations			—			(31	)		14
	21			Net income (loss)			$	146		$	(136	)	$	252
		Segment Earnings Analysis
	22			Exploration and production			$	124		$	(116	)	$	88
	23			Refining and marketing				89			70			46
	24			Corporate				(25	)		(23	)		(27	)
	25			Interest expense				(42	)		(36	)		(44	)
	26			Income (loss) from continuing operations				146			(105	)		63
				Discontinued operations
	27				Net gain from asset sales			—			—			175
	28				Income (loss) from operations			—			(31	)		14
	29			Net income (loss)			$	146		$	(136	)	$	252
	30	Net Cash Provided by Operating Activities (**)					$	99		$	433		$	571
		Capital Expenditures
	31			Exploration and production			$	298		$	323		$	339
	32			Refining and marketing				9			22			28
	33					Total capital expenditures	$	307		$	345		$	367
		At End of Period
	34			Total debt			$	4,490		$	5,083		$	4,642
	35			Stockholders’ equity			$	4,714		$	4,683		$	4,573

(*) Reclassified to conform with current period presentation.

(**) Includes changes in working capital.

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AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)

							Nine Months
Line							2003			2002 (*)
No.
							(A)			(B)
		Income Statement
			Revenues and Non-operating Income
	1			Sales and other operating revenues			$	10,683		$	8,345
				Non-operating income
	2				Gain on asset sales			39			129
	3				Equity in income (loss) of HOVENSA L.L.C.			108			(50	)
	4				Other			42			62
	5					Total revenues and non-operating income		10,872			8,486
			Costs and Expenses
	6			Cost of products sold				7,423			5,175
	7			Production expenses				589			522
	8			Marketing expenses				508			500
	9			Exploration expenses, including dry holes and lease impairment				253			206
	10			Other operating expenses				144			122
	11			General and administrative expenses				252			192
	12			Interest expense				224			194
	13			Depreciation, depletion and amortization				799			853
	14			Asset impairment				—			318
	15					Total costs and expenses		10,192			8,082
	16			Income from continuing operations before income taxes				680			404
	17			Provision for income taxes				282			249
	18			Income from continuing operations				398			155
				Discontinued operations
	19				Net gain from asset sales			116			—
	20				Income (loss) from operations			53			(2	)
	21			Cumulative effect of change in accounting principle, net				7			—
	22			Net income			$	574		$	153
	23	Net Cash Provided by Operating Activities					$	1,159		$	1,427
		Capital Expenditures
	24			Exploration and production			$	958		$	1,101
	25			Refining and marketing				57			106
	26					Total capital expenditures	$	1,015		$	1,207
							September 30			December 31
							2003			2002
		Balance Sheet Information
	27			Current assets			$	2,538		$	2,756
	28			Investments				1,048			1,622
	29			Property, plant and equipment - net				7,942			7,032
	30			Other assets				1,683			1,852
	31					Total assets	$	13,211		$	13,262
	32			Current portion of long-term debt			$	189		$	16
	33			Other current liabilities				1,986			2,537
	34			Long-term debt				4,301			4,976
	35			Deferred liabilities and credits				2,021			1,484
	36			Stockholders’ equity excluding other comprehensive loss				4,998			4,503
	37			Accumulated other comprehensive loss				(284	)		(254	)
	38					Total liabilities and stockholders’ equity	$	13,211		$	13,262

(*) Reclassified to conform with current period presentation.

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AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL OPERATING DATA
(IN THOUSANDS, EXCEPT FOR AVERAGE SELLING PRICES)

						Third		Third		Second
						Quarter		Quarter		Quarter
						2003		2002		2003
Line
No.						(A)		(B)		(C)
		Operating Data
			Net Production Per Day
				Crude oil - barrels
	1				United States		41		53		45
	2				United Kingdom		78		112		96
	3				Equatorial Guinea		21		39		24
	4				Norway		22		26		24
	5				Denmark		24		20		23
	6				Algeria		23		15		15
	7				Gabon		11		8		10
	8				Indonesia		—		4		1
	9				Azerbaijan		2		4		2
	10				Colombia		—		21		—
	11				Total		222		302		240
				Natural gas liquids - barrels
	12				United States		12		12		9
	13				United Kingdom		4		5		8
	14				Norway		1		1		1
	15				Indonesia and Thailand		2		3		2
	16				Total		19		21		20
				Natural gas - mcf
	17				United States		216		355		264
	18				United Kingdom		262		227		327
	19				Denmark		30		30		28
	20				Norway		24		28		28
	21				Indonesia and Thailand		59		63		48
	22				Total		591		703		695
	23			Barrels of oil equivalent (*)			339		441		376
			Average Selling Price (including hedging)
				Crude oil - per barrel
	24				United States	$	24.33	$	26.19	$	23.12
	25				Foreign		24.72		26.08		24.31
				Natural gas liquids - per barrel
	26				United States	$	22.00	$	16.08	$	21.84
	27				Foreign		23.33		19.73		19.44
				Natural gas - per mcf
	28				United States	$	3.53	$	3.47	$	4.09
	29				Foreign		2.54		2.17		2.58
			Marketing and Refining - Barrels Per Day
	30			Refined products sold			390		355		399
	31			Refinery runs (net)			241		174		215

(*) Includes production from properties classified as discontinued operations of 51 and 14 thousand barrels of oil equivalent per day in the third quarter of 2002 and the second quarter of 2003, respectively.

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AMERADA HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
SUPPLEMENTAL OPERATING DATA
(IN THOUSANDS, EXCEPT FOR AVERAGE SELLING PRICES)

							Nine Months
							2003		2002
Line
No.							(A)		(B)
		Operating Data
			Net Production Per Day
				Crude oil - barrels
	1				United States			45		56
	2				United Kingdom			92		113
	3				Equatorial Guinea			24		39
	4				Norway			23		24
	5				Denmark			24		21
	6				Algeria			19		14
	7				Gabon			10		9
	8				Indonesia			2		5
	9				Azerbaijan			2		4
	10				Colombia			4		22
	11					Total		245		307
				Natural gas liquids - barrels
	12				United States			11		13
	13				United Kingdom			6		5
	14				Norway			1		1
	15				Indonesia and Thailand			2		3
	16					Total		20		22
				Natural gas - mcf
	17				United States			266		390
	18				United Kingdom			303		275
	19				Denmark			31		36
	20				Norway			26		25
	21				Indonesia and Thailand			54		42
	22					Total		680		768
	23			Barrels of oil equivalent (*)				378		456
			Average Selling Price (including hedging)
				Crude oil - per barrel
	24				United States		$	23.97	$	24.41
	25				Foreign			24.79		24.66
				Natural gas liquids - per barrel
	26				United States		$	23.64	$	14.73
	27				Foreign			22.95		18.05
				Natural gas - per mcf
	28				United States		$	4.03	$	3.54
	29				Foreign			2.73		2.17
			Marketing and Refining - Barrels Per Day
	30			Refined products sold				417		376
	31			Refinery runs (net)				218		175

(*)  Includes production from properties classified as discontinued operations of 17 and 53 thousand barrels of oil equivalent per day in the first nine months of 2003 and 2002, respectively.

Contact: Amerada Hess Corporation - J. Wilson (212) 536-8940

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