组合措施应对石油企业资金市场风险

Combined measures to confront treasury risks for oil companies

石油企业的资金管理面临着流动性风险、利率风险和汇率风险等市场风险。根据石油企业特点,利率与油价挂钩、交叉货币掉期、替代性对冲等都是石油企业应对资金市场风险的措施。石油企业应对资金市场风险需要注意几个方面:资金风险管理服务于企业主业经营,而非以盈利或投机为目的;原油市场有着世界范围的、交易活跃的相关金融市场和产品,可以将不同的市场风险联系起来,综合考虑权衡;不同的管理方法或者工具的使用,都涉及实施时间的问题。

The treasury risk management of oil companies faces liquidity risk, interest rate risk and foreign exchange rate risk. Based on the characteristics of oil companies, effective measures for oil companies such as pegging interest rate to oil price, cross currency swap, and replacement hedging can in place against financial market risks. Oil companies should pay attention to several aspects, for example, the treasury risk management work for operations but not be used for profits generation or market speculation; on account of the worldwide and active trading financial markets and products of crude oil market, the different markets risks can be connected to provide company an integrated view for evaluation and consideration; implementation and execution timing is associated with different management strategies and measures.