Egypt Said to Choose Citi, JP Morgan for Oil Price Hedging Plan
CAIRO (Capital Markets in Africa) – Egypt has selected Citigroup Inc. and JP Morgan Chase & Co. to hedge against fluctuations in global oil prices, two Egyptian officials said. Egypt announced several weeks ago that it was seeking to protect itself against sudden increases in the price of crude oil and was negotiating with global banks. It expects to begin hedging at the end of this year or early in 2019, the officials said, speaking on condition of…
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