NEW YORK (AP) — Oil company Hess has filed for a tax-free spinoff of its gas station business, and says it will consider selling the unit. The company plans to make Hess Retail Corp. a separate publicly-traded company, although it hasn't decided on a date for the move. Hess said Wednesday that it will also solicit offers to buy the business. Hess Corp. has been shifting away from refining and toward exploration and production, and it sold billions of dollars in assets in 2013 to help repay debt and add cash to its balance sheet. The asset sales included its energy marketing business and a terminal network. Hess had said it planned to sell the retail division. Hess Retail has 1,258 locations under the Hess, Hess Express and Wilco Travel Plaza brands, according to a Securities and Exchange Commission filing. The business had $6.53 billion in revenue and other income in the first nine months of 2013. As a separate company, its shares would trade under the ticker symbol "HRE." Shares of New York -based Hess rose 53 cents to $81.39 in afternoon trading.
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