Mexico sees return to normality for oil hedging
Banks’ ability to act as a counterparty is “back to a very normal situation” after the credit crunch, according to one of the designers of Mexico’s oil price hedging programme.
Gerardo Rodriguez, deputy undersecretary for public debt at Mexico’s Ministry of Finance and Public Credit, is one of the government appointees charged with designing and implementing Mexico’s oil price hedging strategy, which netted the government a $5 billion profit in 2009.
In an interview with Energy Risk, due to be published in the February issue of the magazine, Rodriguez said hedging was not necessarily more expensive during the credit crunch, but he acknowledged there were some indirect
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