{"title":"28. Price Protection Strategies for an Oil Company","authors":"E. Medova, A. Sembos","doi":"10.1137/1.9780898718799.ch28","DOIUrl":null,"url":null,"abstract":"Crude oil price volatility has a significant impact on the planning decisions and budgets of oil companies. Taking account of such major activities as supply, storage, transformation and transportation toge ther with trading on the commodity markets, we investigate the influence of random prices and demands. Such problems may be formulated as dynamic stochastic programmes with robust first stage solutions in the face of future price and demand uncertainties. In this paper we describe the trading environment and investigate hedging policies in coordination with the logistics planning problem.","PeriodicalId":403781,"journal":{"name":"Applications of Stochastic Programming","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applications of Stochastic Programming","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1137/1.9780898718799.ch28","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
Abstract
Crude oil price volatility has a significant impact on the planning decisions and budgets of oil companies. Taking account of such major activities as supply, storage, transformation and transportation toge ther with trading on the commodity markets, we investigate the influence of random prices and demands. Such problems may be formulated as dynamic stochastic programmes with robust first stage solutions in the face of future price and demand uncertainties. In this paper we describe the trading environment and investigate hedging policies in coordination with the logistics planning problem.
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