Comparative study on financial derivatives employed in the large international petroleum corporations' risk management

摘要

Most international petroleum corporations have established fine risk management system. They make risk management with financial derivatives, but there is great difference in the scale among them. Also, as a whole, most of them have conservative attitudes and use derivatives for hedging. Only a few firms speculate, such as BP. For the petroleum corporations that have not managed risk with financial derivatives, it is helpful to promote the ability of risk management if they employ some financial derivatives reasonably. But they have to control the conditions and scales to avoid extra risks.