Ann: Annual Report 2018, page-305

Why does that matter?... Each company manages their own book independently and has their own risk appetites and capital structures to support any positions. I suspect FAR will sell forward for Financing arrangements (at least for first few years mostly fixed discount price or some formula linked) & WPL would manage any volume/price exposures within their own approved limits and probably take fixed and spot oil positions regardless of where it comes from physically, that's just portfolio management.