On hedging, BP and Shell set different timelines

Oil giants BP and Royal Dutch Shell both reported billions in outstanding derivatives at end-2018, though Shell has a far higher share of its portfolio due to expire over the next year.

Shell posted gross derivatives assets of $7.8 billion for the year, of which 93% were listed as current assets – meaning they are expected to mature within one year. Gross derivatives liabilities hit $8.6 billion, 84% of which were designated current. 

In contrast, BP reported $9 billion of derivatives assets,

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