(Reuters, 11.Dec.2020) — Mexico is wrapping up purchases for the 2021 edition of an oil hedging program that insures its revenues from oil sales, sources familiar with the legendarily opaque trade said, following a particularly challenging year. Negotiations to purchase the bulk of the financial contracts that protect Mexico against […]
Tag: hedge
Mexico Wins Over $2bn On Oil Hedge
(Bloomberg, 1.Dec.2020) — Mexico will cash in its oil price insurance policy this year for the fourth time only in the last two decades, receiving a payout of about $2.5 billion from its 2020 sovereign oil hedge, people familiar with the transaction said. In an ironic turn of events, Mexico […]
Pemex To Begin 2021 Oil Hedge Contracting Soon
(Reuters, 26.Nov.2020) — Mexican oil giant Pemex is about to start the process of contracting an oil hedge for 2021, a senior source at the company told Reuters, after the previous two hedges delivered bumper payouts for the highly-indebted company. Pemex’s hedge is separate and much smaller than the one […]
Mexico Says Hedge Covers Oil Income
(Reuters, 10.Mar.2020) — Mexico’s finance minister said on Tuesday a $1.4 billion hedge program completely covered 2020 national oil income following a steep drop in crude prices, adding the government needed to accelerate spending to help stimulate a flagging economy. The oil hedging program, the world’s largest financial oil deal, […]
Mexico Launch World’s Largest Oil Hedge Program
(Reuters, Devika Krishna Kumar, Stefanie Eschenbacher, 5.Sep.2019) — Mexico has made the first moves to launch its annual $1 billion oil hedging program by asking banks for quotes, sources familiar with the deal said, while buying in financial oil options contracts for 2020 has risen in recent days, consistent with […]
Mexico To Launch World’s Largest Oil Hedge
(Reuters, Devika Krishna Kumar, Stefanie Eschenbacher, 5.Sep.2019) — Mexico has made the first moves to launch its annual $1 billion oil hedging program by asking banks for quotes, sources familiar with the deal said, while buying in financial oil options contracts for 2020 has risen in recent days, consistent with […]