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Derivatives exposures up 26% at BP

Oil giant posts fourth consecutive yearly increase in 2021

The gross mark-to-market value of derivatives contracts held by BP rose over 26% in 2021 to the highest level in at least eight years.

Total gross derivatives assets and liabilities stood at $26.7 billion at end-December 2021, compared with $21.2 billion the previous year. It was the largest quarterly increase since 2014.

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