BP joins Shell in helping Mexico execute oil hedge

BP helped Mexico execute its $1.26 billion 2018 oil hedge, the biggest in the industry, becoming the second oil major after Royal Dutch Shell to participate in the program, multiple industry sources say.

Big Wall Street banks such as Goldman Sachs, Citigroup and J.P. Morgan have dominated Mexico’s program for years but their role has diminished with tighter regulations on bank commodity trading, including a near total ban on proprietary trading.

Source: Reuters