Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Egypt almost doubles oil hedges during 2020-21 – Bloomberg

    Egypt almost doubles oil hedges during 2020-21 – Bloomberg

    December 10, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp

    News wire — Egypt has almost doubled its oil hedges during the 2020-21 fiscal year ending in June, Bloomberg reported on Wednesday, citing an interview with the country’s Finance Minister Mohamed Maait.

    Egypt has bought more derivative contracts to protect itself against a rise in oil costs, as some importers seek to take advantage of this year’s price rout, the report said.

    Crude prices collapsed to historic lows earlier this year, as coronavirus-led lockdowns drained demand for fuel and related products. Benchmark Brent crude has rebounded to almost $50 a barrel, but still remains down 25% this year.

    “We did a huge number of hedging contracts,” Maait said in the interview with Bloomberg, without disclosing the size of the programme or other details.

    (Reporting by Lasya Priya M in Bengaluru; Editing by Amy Caren Daniel)

    Follow us on twitter

    Related News

    HSBC, Goldman Sachs see Brent oil hitting $80-110/b

    Oil falls nearly 4% as Iran’s retaliation focuses on regional US military bases

    Trump tells everyone to keep oil prices down after Iran attacks

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    Shell faces legal storm over pollution after N/Delta onshore exit

    June 23, 2025

    HSBC, Goldman Sachs see Brent oil hitting $80-110/b

    June 23, 2025

    Oil falls nearly 4% as Iran’s retaliation focuses on regional US military bases

    June 23, 2025

    Trump tells everyone to keep oil prices down after Iran attacks

    June 23, 2025

    Golar LNG reaches crucial milestone for Greater Tortue Ahmeyim project

    June 23, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.