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ABSTRACT
The past half decade has seen sweeping changes in the global oil market. This necessitates a study of risk management practices within the oil industry. This research work examines corporate risk management in Nigerian indigenous oil and gas companies, with focus on financial derivatives. Data for the study was obtained using questionnaires, with respondents drawn from a sample of the indigenous oil and gas firms. The stated hypotheses were tested using t-test statistics and Pearson Coefficient of Correlation. The study reveals that corporate risk management is fairly recognized and practiced by the firms and shows some variations in the approaches adopted in managing financial risk exposures and the degree to which each approaches are adopted.
