HESS CORP - FORM 8-K - EX-12.1

Exhibit 12

HESS CORPORATION
Computation of Ratio of Earnings to Fixed Charges
(Millions of dollars)


	Nine Months Ended			Year Ended December 31,
	September 30, 2009			2008			2007			2006			2005			2004
Earnings
Consolidated income before income taxes (a)	$	811		$	4,697		$	3,825		$	4,190		$	2,309		$	1,650
Plus: Fixed charges (excluding capitalized interest)		285			320			306			246			270			301
Amortization of capitalized interest		34			55			29			18			15			18
Distributed earnings of equity investees		5			83			310			410			279			92
Less: (Earnings) losses of Equity method investees		154			(96	)		(191	)		(205	)		(386	)		(250	)
Noncontrolling interests in consolidated subsidiaries with no fixed charges		(55	)		3			(121	)		(144	)		(108	)		(79	)

Total earnings	$	1,234		$	5,062		$	4,158		$	4,515		$	2,379		$	1,732


Fixed Charges
Interest expensed (b)	$	240		$	253		$	243		$	184		$	211		$	245
Interest capitalized		4			7			50			100			80			54

Total interest incurred		244			260			293			284			291			299
Portion of rent expense representative of interest (c)		45			67			63			62			59			56

Total fixed charges	$	289		$	327		$	356		$	346		$	350		$	355


Ratio of earnings to fixed charges		4.3			15.5			11.7			13.0			6.8			4.9


(a)		— Reflects the retrospective adoption of a new accounting standard for non-controlling interests in consolidated sudsidiaries.
(b)		— Includes amortization of debt issue costs and discounts or premiums. Excludes letter of credit fees.

(c)		— Represents management’s estimate of the interest portion of rent expense.

HESS CORP - FORM 8-K - EX-12.1 - December 15, 2009