FOREX TradingCharts.com

Financial News: PETROBRAS: Company Hedges Around 15% Of Its Oil

PETROBRAS: Company Hedges Around 15% Of Its Oil Output For 2018

03/28/2018 - 16:31:00 (RTTNews)

(RTTNews) - The Brazilian state-owned oil company Petrobras hedged 128 million barrels - or around 15% - of its oil production scheduled for this year, the firm said Wednesday in a statement.

The transactions were carried out over February and March. Petrobras acquired put options with an average strike price of $65 per barrel through the end of 2018, and an average cost of US$3.48 per barrel.

"The transaction aims to shield part of the operating cash generation projected by the company for 2018, ensuring a minimum price level for the production volume under the transaction without, however, locking the price, should the average price of Brent in the year exceed the reference value", said Petrobras.

"Hedging is achieved in low price scenarios, yet profit from higher prices is nevertheless earned from hike scenarios in the price of Brent." the company added.

The state-owned oil company said it maintains its preference for exposure to the price cycle, but the implementation of an occasional derivative protection strategy may be applicable according to the business environment and prospects of accomplishing the business plan.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Japan Manufacturing PMI Climbs To 53.3 In April (03 hr(s), 10 min(s), 18 sec(s) ago)
(RTTNews) - The manufacturing sector in Japan continued to expand in April, and at a faster rate, ...Full Story»

Japan Manufacturing PMI On Tap For Monday (05 hr(s), 59 min(s), 18 sec(s) ago)
(RTTNews) - Japan will on Monday see preliminary April results for the manufacturing PMI from Nikk ...Full Story»

ARGENTINA: Merval Drops 0.39%, Falls 1.4% In The Week (07 hr(s), 21 min(s), 18 sec(s) ago)
(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, fell 0.39%, closing at 31,1 ...Full Story»

COLOMBIA: Colcap Falls 0.70% Friday, Weighed By Bancolombia (07 hr(s), 38 min(s), 18 sec(s) ago)
(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, dropped 0.70% Friday, closing ...Full Story»

ARGENTINA: Country Promotes PPP At World Bank Meeting (07 hr(s), 50 min(s), 18 sec(s) ago)
(RTTNews) - Public-Private Partnerships (PPP) are a way to solve infrastructure problems, and in A ...Full Story»

ENGIE: CESP Is On The Radar Of The Company, Says Director (14 hr(s), 53 min(s), 18 sec(s) ago)
(RTTNews) - Engie Brasil said it expects to announce the new sale notice of the Sao Paulo state-ow ...Full Story»

PERU: PPK Requests Investigation By Public Ministry, Not Inquiry Committee (15 hr(s), 03 min(s), 18 sec(s) ago)
(RTTNews) - Former Peruvian President Pedro Pablo Kuczynski informed Lava Jato's parliamentary ...Full Story»

USIMINAS: Steel Price Increase Should Reach Distribution Grid In June (15 hr(s), 14 min(s), 18 sec(s) ago)
(RTTNews) - Brazilian steelmaker Usiminas is expected to raise its prices for the distribution gri ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Manufacturing PMI Climbs To 53.3 In April

04/22/2018 - 20:49 PM (RTTNews)
(RTTNews) - The manufacturing sector in Japan continued to expand in April, and at a faster rate, ...Full Story>>

Japan Manufacturing PMI On Tap For Monday

04/22/2018 - 18:00 PM (RTTNews)
(RTTNews) - Japan will on Monday see preliminary April results for the manufacturing PMI from Nikk ...Full Story>>

ARGENTINA: Merval Drops 0.39%, Falls 1.4% In The Week

04/22/2018 - 16:38 PM (RTTNews)
(RTTNews) - Merval, the main index of the Buenos Aires Stock Exchange, fell 0.39%, closing at 31,1 ...Full Story>>

COLOMBIA: Colcap Falls 0.70% Friday, Weighed By Bancolombia

04/22/2018 - 16:21 PM (RTTNews)
(RTTNews) - Colcap, the main index of the Colombian Stock Exchange, dropped 0.70% Friday, closing ...Full Story>>

ARGENTINA: Country Promotes PPP At World Bank Meeting

04/22/2018 - 16:09 PM (RTTNews)
(RTTNews) - Public-Private Partnerships (PPP) are a way to solve infrastructure problems, and in A ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.