Shell becomes first oil company to join Mexico’s hedging program: Bloomberg

09/01/16 Reuters

shell by Azfar Hakim
Photo by Flickr user Azfar Hakim

Royal Dutch Shell Plc participated in Mexico’s oil hedging program for 2017, the first time an oil company has taken part in the world’s large commodities hedging program, according to Bloomberg, citing four people with knowledge of the matter.

Shell’s trading unit was one of the seven counterparties to the Mexican government, the report said, adding that their involvement is the first known participation since Mexico started to lock in prices regularly 15 years ago.

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