BP’s massive global exposure to just about every type of risk has meant the energy giant has honed its risk management skills to a sharp point over the past decade and more. Georges Tijbosch, senior risk manager, Europe at BP in London, says: “We see a lot of imbalances in terms of volumes, locations, grades, timing of product delivery, right down to quality of crude oil or oil products. So we’ve had physical trading floors for at least 10 years to hedge these exposures.” Other integrated energy
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