Международный научно-образовательный электронный журнал «образование и наука в XXI веке». Выпуск №25 (том 3)

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654 
Product Name 
Plan 
Fact
Change, 
% 
Natural gas (billion 
cubic meters) 
33,1 
33,9 
2,4 
Oil (thousand tons) 
109 
116,1 
6,5 
Polyethylene 
(thousand tons) 
130 
135,2 
4 
Sulfur(thousand tons) 
206 
258 
25 
According to Table 1, in 2021, the planned indexes for the production and 
processing of oil and gas were exceeded, which indicates the effective activity of the 
country's oil and gas enterprises. [2] 
Today, Uzbekistan is also an exporter of gas to neighboring countries, so the 
issue of hedging the risks of its assets is relevant and justified for the oil and gas 
industry. 
Risks hedging in the oil and gas industry involves insuring an asset, that is, oil 
or gas, in the event of the sale or purchase of an asset in the future on pre-agreed terms. 
Hedging also has a set of tools with which oil and gas companies use to insure their 
assets. The most common instruments are swaps, options, forwards and futures, which 
have important features. These instruments enable oil and gas companies to create a 
hedging policy effectively and protect their assets from adverse consequences that may 
arise in the market. [3] 
The importance of hedging lies in a significant reduction in the price risk 
associated with the procurement and supply of ready products; guarantees of long-term 
protection without the need to change the inventory policy or enter into long-term 
forward contracts; simplification of the attraction of credit resources. 
An illustrative case of hedging usage is Mexico. The government acquires put 
options on oil and after a while this oil can be sold at a fixed price, for example, in 
2020 the price per barrel was $ 49. From 2001-2017, the country earned $ 2.4 billion 
from oil put options, and its profit during periods of low oil tariffs amounted to $ 14.1 

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billion, and the cost of buying options from brokers and banks amounted to $ 11.7 
billion. Due to the fall in world oil prices in 2015-2016, the hedging devices brought 
Mexico benefits in the amount of 0.3-0.6% of GDP, and in 2020 the state had the 
opportunity to receive more than $ 6 billion - 0.5% of GDP.[1]
Thus, risk hedging in the oil and gas industry serves as the principal factor in 
protecting and ensuring the stability of the company's activities in the market, which 
has a high degree of volatility, given the current situation in the world economic 
system. 
REFERENCES: 
1.
"Mexican 
insurance".
[Electronic 
resource] 
- 
Access 
mode: 
https://www.rbc.ru/economics/22/07/2020/5f1877069a7947f82116a223 
(accessed: 
16.01.2022) 
2.
 “Uzbekneftegaz-2021
” [Electronic resource] - Access mode: 
https://rublog.ung.uz/rubeVLd4vck
(accessed: 17.01.2022) 
3.
Risk hedging: essence, concept, meaning.
[Electronic resource] - Access 
mode: 
https://investim.guru/wiki/hedzhirovanie
(accessed: 17.01.2022) 

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