Crude oil imports are substantial, with a significant portion coming from abroad. A major player in this industry has developed a strategy to manage foreign exchange risks. By exporting petroleum products, the company generates earnings that can be used to pay for imports, creating a form of protection against currency fluctuations.

This approach has proven successful, thanks in part to the company's advanced refining capabilities. The ability to process crude oil into usable products has been key to its success. Further information on this topic is available from the source, which discusses the nuances of the oil business and the importance of refining capabilities.