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Financial risk management at Galp: assessing market exposures of in integrated Oil & Gas compan
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| 1.76 MB | Adobe PDF |
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This thesis examines the financial risk management practices of Galp, a leading integrated oil and gas company. It quantifies market exposure to key variables and explores their interactive effects before assessing the effectiveness of the company’s current hedging strategies. Leveraging these insights - along with Galp’s Two-Year Cash Flow at Risk (EUR 376m), obtained through a separately developed proprietary Cash Flow at Risk model - this study proposes a gasoline-based collar hedging strategy. The recommended approach is shown to
mitigate cash flow volatility cost-effectively, ensuring sufficient liquidity for strategic investments and dividend payments, thereby enhancing Galp´s financial resilience
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Risk management Financial risk management Hedging Simulations Oil and Gas industry