These kids make £12m profit’ for BP on global oil market
PUBLISHED: 18:32 08 July 2009 | UPDATED: 14:32 05 October 2010
SCHOOLKIDS from London’s East End have made a cool £12m profit buying and selling oil on the world market. Or so they wish! The 14-year-olds have been acting as oil traders’ testing a new trading’ game
SCHOOLKIDS from London’s East End have made a cool £12 million profit buying and selling oil on the world market.
Or so they wish! The 14-year-olds have been acting as oil traders’ testing a new trading’ game being distributed to schools in September.
The pupils from Bethnal Green’s Oaklands Secondary visited the offices of BP’s Supply & Trading division at Canary Wharf—where real life oil buying and selling is carried out.
The new Enterprise Trading Game which BP releases to schools for the new term simulates live commodity dealing.
The Year-9 whiz-kiddies worked in company’ teams deciding whether to trade oil, depending on price and market conditions, with news bulletins throughout the game giving fresh information to base their decisions on.
Judgement calls were made against threatened tanker strikes, pipeline sabotage, a civil war in Africa, extra oil being pumped by Middle Eastern oil rivals and the US vacation season.
The winning team, Lina, Sabina, Iftekhar and Majed (pictured with BP executive Brian Gilvary and their trading’ board), ended with a profit’ of £12.4m. No-one made a loss.
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